{"id":3218,"date":"2026-06-19T16:28:14","date_gmt":"2026-06-19T16:28:14","guid":{"rendered":"https:\/\/www.bettingjobs.com\/?p=3218"},"modified":"2026-07-04T17:19:54","modified_gmt":"2026-07-04T17:19:54","slug":"all-about-that-base","status":"publish","type":"post","link":"https:\/\/www.bettingjobs.com\/bettingjobs-earningsandmore-partnership\/all-about-that-base\/","title":{"rendered":"All about that \u2019base"},"content":{"rendered":"<p><strong>I can shake it, shake it, like I\u2019m supposed to do:<\/strong> Coinbase has launched pre-IPO perpetual futures, letting retail customers take long or short positions on private companies before they list, while at the same time talking up its new sports-centric prediction market combos.<\/p>\n<ul>\n<li>Speaking during the company\u2019s system update event this week, Max Branzburg, head of consumer, said perps offer exposure to companies before they go public, naming SpaceX, Anthropic and OpenAI as available or imminent.<\/li>\n<li>\u201cYou can trade instantly without waiting for an allocation, go long or short 24\/7 like any other perpetual future,\u201d he said.<\/li>\n<\/ul>\n<p><strong>I got that boom boom that all the boys chase:<\/strong> Liz Martin, VP of product and head of derivatives and markets, set the launch against the backdrop of a wider derivatives push. She said crypto derivatives \u201cdrive 80% of global crypto volume\u201d and positioned Coinbase as the venue to repatriate that activity.<\/p>\n<ul>\n<li>\u201cIt started with us being the first to launch perpetual futures in the US last year,\u201d Martin said.<\/li>\n<li>\u201cThe majority of volume remains offshore,\u201d she added, saying that customers should not need a VPN to reach it.<\/li>\n<li>Two weeks ago, she said, Coinbase became the first US company to \u201cconnect American customers to our global crypto derivatives markets.\u201d<\/li>\n<\/ul>\n<p><strong>And all the right junk in all the right places: <\/strong>On prediction markets, the news was Coinbase\u2019s push into combos. \u201cWe\u2019re launching Combos, the ability to roll up multiple predictions into a single, much more powerful position,\u201d Branzburg said.<\/p>\n<ul>\n<li>The sports orientation of the product was explicit. Branzburg referenced \u201cpicking Scottie Scheffler this week in the US Open\u201d and listed live \u201cin-game scores and plays\u201d among the data the redesigned product surfaces.<\/li>\n<\/ul>\n<p><strong>One way or another: <\/strong>Alongside Combos, Coinbase announced \u201chundreds of new crypto binary markets,\u201d including 15-minute contracts or short-duration, high-frequency products that echo in-play betting more than investing.<\/p>\n<ul>\n<li>Branzburg attached no volume, handle or user figure to the prediction markets business, calling it only a source of \u201cexplosive growth.\u201d<\/li>\n<\/ul>\n<p><strong>Kalshi \u2665\ufe0f Coinbase: <\/strong>Recent data captures Coinbase\u2019s footprint, and suggests it is substantial. EKG\u2019s Prediction Markets Monitor this week found that Coinbase\u2019s January 2026 integration with Kalshi \u2013 through which Coinbase distributes Kalshi\u2019s event contracts \u2013 strengthened Kalshi\u2019s position as a \u201chybrid sports-and-financial-event platform.\u201d<\/p>\n<ul>\n<li>Following that integration, EKG reported, crypto\u2019s share of Kalshi\u2019s execution volume expanded materially, with the growth led by short-duration Bitcoin contracts.<\/li>\n<li>The analysts read the demand for those high-frequency, rapidly resolving markets as evidence of an appetite for gamified event trading.<\/li>\n<li>\u201cWhile sports remains the dominant driver of activity, crypto has emerged as the clearest source of incremental diversification, led by rapid growth in short-duration Bitcoin contracts,\u201d EKG wrote.<\/li>\n<li>In an inaugural prediction market report this week, Stifel\u2019s analysts said prediction markets were \u201cstarting to expand into crypto, accelerating diversification away from sports and deepening integration into the financial ecosystem.\u201d<\/li>\n<\/ul>\n<p><strong>15 minutes of fame:<\/strong> Given Coinbase has been a core driver of Kalshi\u2019s crypto volume, the 15-minute crypto binaries it announced last week look like the in-house version of the very product format its Kalshi partnership helped scale.<\/p>\n<ul>\n<li>Hence, combos and crypto binaries are less a new departure than a move to internalize volume Coinbase has been routing to a partner.<\/li>\n<li>EKG\u2019s separate observation that short-resolution crypto markets may become to financial event trading what parlays became to sportsbooks fits the same pattern.<\/li>\n<\/ul>\n<p><strong>Armstrong\u2019s stretch: <\/strong>Between pre-IPO perps, crypto binaries and combos, Coinbase is assembling a suite that borrows heavily from the leverage and parlay mechanics of regulated betting, routed through a securities-to-derivatives wrapper.<\/p>\n<ul>\n<li>Whether that wrapper holds, and how the CFTC and SEC view 15-minute binaries and correlated parlays on sporting outcomes, is not a question the update addressed.<\/li>\n<li>But there can be no doubting the scale of Coinbase\u2019s ambitions. Opening up the event, CEO Brian Armstrong said Coinbase was \u201chere to help.\u201d<\/li>\n<li>\u201cWe\u2019re here to help you take control of this dynamic world and own a piece of the upside.\u201d<\/li>\n<li><strong>Buzzword bingo:<\/strong> This was at least less controversial than Armstrong\u2019s performance during the company\u2019s Q3 earnings call last November where he landed in hot water over a <a href=\"https:\/\/earningsandmore.substack.com\/i\/177869844\/buzz-word-bingo\">sorry\/not sorry incident<\/a> related to mention markets.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><a href=\"https:\/\/earningsandmore.substack.com\/p\/all-about-that-base\">Like what you are reading? CLICK here to read the FULL article!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I can shake it, shake it, like I\u2019m supposed to do: Coinbase has launched pre-IPO perpetual futures, letting retail customers take long or short positions on private companies before they list, while at the same time talking up its new sports-centric prediction market combos. Speaking during the company\u2019s system update event this week, Max Branzburg,&hellip;<\/p>\n","protected":false},"author":13,"featured_media":3220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","footnotes":""},"categories":[24],"tags":[],"class_list":["post-3218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bettingjobs-earningsandmore-partnership"],"acf":[],"post_author_name":"","post_authors_type":"","post_authors_from_team_members":false,"_links":{"self":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts\/3218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/comments?post=3218"}],"version-history":[{"count":1,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts\/3218\/revisions"}],"predecessor-version":[{"id":3221,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/posts\/3218\/revisions\/3221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/media\/3220"}],"wp:attachment":[{"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/media?parent=3218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/categories?post=3218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bettingjobs.com\/af-api\/wp\/v2\/tags?post=3218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}