ResearchThree Things (3/17)

Three Things (3/17)

Mar 17, 2022

The below content and projections are the opinion of the authors. Any conclusions or takeaways are their own. This should not be considered as investment advice. Investing involves the risk of loss and returns are not guaranteed.

1) Coinbase launches Coinbase Pay, offering users easier wallet access as crypto adoption accelerates

  • Coinbase Pay enables users to add funds to their Coinbase Wallet from a Chrome browser extension.
  • Users in the U.S. and Canada will be able to use bank accounts or debit cards to add funds to their Wallets via Coinbase Pay.
  • Previously, users had to manually enter their Wallet address to transfer funds using the browser extension.

Titan’s Takeaway: Coinbase helping centralize digital asset availability for users may seem antithetical to the decentralized ethos of the space. But initiatives like Coinbase Pay show how the company’s scale enables it to offer more solutions to more users as the crypto economy grows.

2) Fed announces first rate hike since 2018, signals 6 more this year as inflation remains elevated

  • The Federal Reserve raised the target range for its benchmark interest rate by 0.25% to a range of 0.25%-0.50%.
  • Forecasts published Wednesday indicate the Fed thinks inflation will be 4.3% at the end of this year; three months ago, Fed officials expected inflation would be running at 2.6% at year-end.
  • Following this announcement, stocks rallied with the Nasdaq rising over 3.5% on Wednesday.

Titan’s Takeaway: As outlined by Fed chair Jerome Powell on Wednesday, the central bank is making a firm commitment to bringing down inflation this year. And while we don’t think you can pass judgment on a change in the market’s overall direction based on one day of trading, the magnitude of the market’s move on Wednesday certainly has our attention.

3) Netflix to begin charging users who share passwords to people outside their household as streaming market matures

  • Users in Chile, Costa Rica, and Peru will be first to test this new feature.
  • Netflix will charge subscribers in Costa Rica an additional $3/month for account access for up to two users outside a household.
  • The company said its new user profile features for Standard and Premium plans have “created some confusion” around how passwords can be shared.

Titan’s Takeaway: Over the last several years, Netflix has transitioned its primary focus from growing subscribers to more effectively monetizing them. And this turn has transformed password sharing from the butt of a joke about your ex into a key business priority for Netflix.

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