Cobie says Coinbase lost crypto-native focus

• Crypto investor Cobie said Coinbase has lost touch with its crypto-native user base.
• He argued the exchange has shifted its focus towards institutional clients and mainstream finance.
• The comments have reignited debate over Coinbase's long-term strategy in the digital asset market.

Crypto investor Cobie said Coinbase has drifted away from its crypto-native community as the exchange expands its focus on institutional clients and traditional finance.

Cobie argued Coinbase has prioritised products for large investors while reducing its emphasis on features valued by long-time cryptocurrency users.

He made the comments during a discussion about Coinbase's strategy, saying the company has become more aligned with Wall Street than the early crypto ecosystem.

Coinbase has recently expanded into tokenised assets, derivatives, payments and other financial services as it seeks new sources of revenue.

The company has also increased its institutional offerings, including custody, trading and infrastructure services for asset managers and corporate clients.

Despite the criticism, Coinbase remains one of the world's largest cryptocurrency exchanges and continues to broaden its product range across digital assets.

The debate highlights the challenge facing major crypto exchanges as they balance institutional growth with the needs of retail and crypto-native users.