Thursday, December 16, 2021

Watchman Report Dec. 16, 2021 "Coinbase Is Buried In British Pilgrims Slime"

 

New post on Patriots for Truth

Coinbase is buried in British Pilgrims slime

by Our Spirit

Coinbase is an incestuous, interlocked association of directors and investors of the British Pilgrims Society and its American Silicon Valley and Wall Street sycophants

It is buried in British Pilgrims Society slime.

Coinbase went public on Mar. 23, 2021. This information is obtained from their S-1/A public offering disclosure at the SEC.

Coinbase Global, Inc. (COIN) (Mar. 23, 2021). S-1/A Public Offering Disclosure, No. 333-253482, EIN 46-4707224. SEC Edgar.

Fenwick & West LLP was the corporate securities lawyer. Fenwick was a Leader Technologies attorney working with James P. Chandler III when Chandler and Fenwick provide Leader’s invention of social networking to IBM.

Satoshi Nakamoto, the mythical inventor of Bitcoin, is listed on the tombstone first page. This offering reinforced the false, fraudulent propaganda narrative.

Goldman Sachs, J.P. Morgan [Rothschild], Allen & Co., and Citigroup (British Pilgrims Society members) are the interlocked underwriters. These interlocked banks also funded Google, Facebook, Twitter, Time Warner, LinkedIn, Microsoft, Walmart, Yahoo!, Columbia Pictures, Bill Gates, Warren Buffet, Rupert Murdoch, Barry Diller, Michael Eisner, Oprah Winfrey, Andy Grove, etc.

Directors and Officers are a massively interlocked group of British Pilgrims Society sycophants. Facebook principals and their interlocked financiers represent a central controlling group:

Brian Armstrong, CEO. Deloitte & Touche, ResearchHub

Surojit Chatterjee, Chief Product Officer. Google, Symantec, Indian Institute, MIT

Emilie Choi. LinkedIn, Microsoft, Warner Bros., Naspers, ZipRecruiter, Johns Hopkins, Wharton

Paul Grewal, Chief Legal Officer. Facebook, Howrey LLP, Federal Circuit, Epiq, MIT, Chicago Law

Alesia J. Haas. Sculptor Capital, Och Ziff Capital, OneWest Bank, CIT Group, ANGI, Sears

Marc L. Andreessen (also Director). Facebook, Andreessen Horowitz, Loudcloud, HP, AOL, Netscape, eBay, UnivofIllinois

Frederick Ernest Ehrsam III (also Director). Paradigm, Goldman Sachs, Duke

Kathryn Haun (also Director). Andreessen Horowitz, Stanford Law, CFR, Sidley Austin LLP, DoJ

Kelley A. Kramer (also Director). Cisco, GE Healthcare, Gilead, Snowflake, Purdue

Gokul Rajaram (also Director). DoorDash, Square, Facebook

Fred Wilson (also Director). Union Square Ventures, Flatiron Partners, Etsy, MIT, Wharton

Beneficial investors. Officers and over 5% shares.

The institutional investors are:

Andreessen Horowitz interlocked with 45 companies including Facebook, Groupon, Twitter, Zynga, Foursquare, Oclulus VR, BuzzFeed, Square, Larry Summers

Paradigm Fund Cypto $2.5 billion fund, including locations in the British Grand Cayman Islands

Ribbit Capital … “to change money” Officers and directors

Denise Gilbert, Yahoo

Nick Shalek, Sutter, Yale

Meyer “Micky” Malka, Bitcoin Fndn, Banco Bracce

Nikolay Kostov, Morgan Stanley, Oxford University

Rebekah Murphy, pretty face in the office

Tessa Savakus, Abercrombie & Fitch, UC Berkeley

Cindy McAdam, Postini/Google, Fenwick & West, UC Berkeley

Nick Huber, J.P. Morgan

Ray Chua, Bloomberg, Univ of Chicago

Zack Rosen, J.P. Morgan, Apollo Global, Michigan

Matt Wong, CB Insights, Northwestern, Peking U

Marisa Cannon, Battery Ventures, Highland Capital

Sigal Mandelker, U.S. Treasury, Proskauer Rose LLP, UPenn

Sal Gala, Goldman Sachs, Carnegie Mellon

Max Montgomery, Goodwin, NYU Law,

Eva Alonso, Goldman Sachs, Millicom (UK), London School of Economics (communism)

Alli London, Morgan Stanley, J.P. Morgan, Southeby’s, Paramount Pictures

Brian McGrath, Jeffries, Royal Bank of Scotland/NatWest

Veronica Boubnova, J.P. Morgan, Blackstone Group, PriceWaterhouseCoopers

Ben Paull, Blackstone Capital, Lehman Brothers, Magnetar Capital, Goldman Sachs, 20th Century Fox

Jessi Brooks, U.S. Attorney, Washington D.C., Stanford Law

Jordan Angelos, Accel Partners (Facebook), James W. Breyer

Amy Hawkins, Tandem, Univ. of North Carolina

Gabe MennessonEvercore, Genzyme, Lexicon (UK), Dell, Titanium Metals, AstraZeneca, DuPont, Qualcomm, Dow, Abbott, Level 3, Tesla, Coach, Whole Foods, Amazon, Aetna, T-Mobile, Sprint

Nicole MacDougall, Bill Gates Ventures Chief of Staff, House, Senate

Justin Saslaw, Goldman Sachs, Raptor Capital, Notre Dame

Tiger Global Alibaba, DST Global (Moscow), Facebook, Credit Karma, LinkedIn, Softbank, Square

Union Square Ventures Twitter, Etsy, Zynga, AT&T Vetures, Flatiron Partners, XO Group

https://en.wikipedia.org/wiki/Coinbase

History

Coinbase was founded in June 2012 by Brian Armstrong, a former Airbnb engineer. Armstrong enrolled in the Y Combinator startup incubator program and received a $150,000 cash infusion.[6] Fred Ehrsam, a former Goldman Sachs trader, later joined as a co-founder.[7][8][9] British programmer and Blockchain.info co-founder Ben Reeves was originally supposed to be part of the Coinbase founding team but parted ways with Armstrong just before the Y Combinator funding event, due to their different stands on how the Coinbase wallet should operate.[6] The company is named after coinbase transactions, which are special transactions that introduce cryptocurrency into circulation in proof of work cryptocurrencies.[10]: ch. 8  In October 2012 the company launched the services to buy and sell bitcoins through bank transfers.[11]

In May 2013, the company received a US$5 million Series A investment led by Fred Wilson from the venture capital firm Union Square Ventures.[12] In December the same year, the company received a US$25 million investment, from the venture capital firms Andreessen HorowitzUnion Square Ventures (USV), and Ribbit Capital.[13] Olaf Carlson-Wee, a graduate from Vassar College, was hired as the first employee in the same year.[14]

Andreessen Horowitz = Facebook, Instagram, Groupon, Zynga, Airbnb, Oculus VR, BuzzFeed, Larry Summers

In 2014, the company grew to one million users, acquired the blockchain explorer service Blockr and the web bookmarking company Kippt, secured insurance covering the value of bitcoin stored on their servers, and launched the vault system for secure bitcoin storage.[15][16][17] Throughout 2014, the company also partnered with OverstockDellExpediaDish Network, and Time Inc. allowing those firms to accept bitcoin payments.[18][19][20][21] In the same year, company also added bitcoin payment processing capabilities to the traditional payment companies StripeBraintree, and PayPal.[22][23] In January 2014, Coinbase Global, Inc. was incorporated in Delaware as a holding company for Coinbase and its subsidiaries. The corporate reorganization that saw Coinbase become a subsidiary of Coinbase Global was completed in April that year.[2]

In January and then March 2017, Coinbase obtained the BitLicense and licensed to trade in Ethereum and Litecoin from the New York State Department of Financial Services (DFS).[30][31] In November, Coinbase was ordered by the US Internal Revenue Service to report any users who had at least $20,000 in transactions in a year.[32] On December 19, Coinbase listed Bitcoin Cash, and the Coinbase platform experienced price abnormalities that led to an insider trading investigation.[33]

In January 2021, Coinbase parent Coinbase Global took a step towards an initial public offering, and in late February of the same year the company filed for a direct listing to go public with the Securities and Exchange Commission.[2][61] In March, the company fell under review by the U.S Office of Foreign Assets Control, with concerns that the company may have provided their blockchain service to blacklisted individuals or companies, noting that the nature of blockchain technology makes it "technically infeasible" to prevent specific users from making transactions.[62][63] Also in March, the company agreed to pay $6.5 million to settle regulatory claims that it had reported misleading information about its trading volumes.[64][65] Also in March, Coinbase announced that it was establishing a business presence in India and hiring employees for IT services, including engineering, software development and customer support operations. The company also announced plans to open a physical office in Hyderabad.[66][67] In April, with its final earnings release before its April 14 direct listing, the company reported a nine-fold increase in Q1 revenue, to $1.8B, up from $190.6M the previous year. The jump was attributed to the increase in the price of Bitcoin over that time period.[68] Before the listing, Nasdaq set a reference price of $250.00 a share, giving the company an estimated value of $47 billion.[69] At the end of its first day of trading, Coinbase closed at a price of $328.28 per share.[70] In May, the company's Chief People Officer published a blog post announcing that Coinbase was eliminating salary and equity negotiations during recruiting, citing salary disparities with women and minorities. The announcement said that "all employees in the same position, in the same location, receive the same salary and equity offer."[71] In June, Coinbase added Dogecoin to its tradable assets for Coinbase Pro users.[72][73] In September, the Securities and Exchange Commission reportedly threatened to sue Coinbase if the company decided to launch a cryptocurrency lending product called Lend.[74] The company initially responded in a blog post that it was confused for being singled out by the SEC, but later announced it had canceled the planned launch. Technology publication TechCrunch covered the story and noted the existence of similar cryptocurrency lending products already on the market.[75] In November, Coinbase made its first acquisition in India by purchasing AI-powered support platform Agara for an estimated $40-50 million. The company stated that it would utilize Agara's technology to automate its customer experience tools.[76]

Operations

Coinbase operates as a remote-first company, and has no physical headquarters.[1] As part of its SEC filing to go public, the company reported 43 million verified users, 7,000 institutions and 115,000 ecosystem partners in over 100 countries. It also reported net revenue of $1.14

https://www.sec.gov/Archives/edgar/data/1679788/000162828021004939/coinbaseglobalincs-1a1.htm#i86a9d9b35e45447ea6eb369e5dcf1e6a_40

Directors at the IPO:

If an officer, shown below.

Christopher V. Dodds.

Barry Schuler

Executive Officers at IPO:

Brian Armstrong, CEO. Deloitte & Touche, ResearchHub

Surojit Chatterjee, Chief Product Officer. Google, Symantec, Indian Institute, MIT

Emilie Choi. LinkedIn, Microsoft, Warner Bros., Naspers, ZipRecruiter, Johns Hopkins, Wharton

Paul Grewal, Chief Legal Officer. Facebook, Howrey LLP, Federal Circuit, Epiq, MIT, Chicago Law

Alesia J. Haas. Sculptor Capital, Och Ziff Capital, OneWest Bank, CIT Group, ANGI, Sears

Marc L. Andreessen (also Director). Facebook, Andreessen Horowitz, Loudcloud, HP, AOL, Netscape, eBay, UnivofIllinois

Frederck Ernest Ehrsam III (also Director). Paradigm, Goldman Sachs, Duke

Kathryn Haun (also Director). Andreessen Horowitz, Stanford Law, CFR, Sidley Austin LLP, DoJ

Kelley A. Kramer (also Director). Cisco, GE Healthcare, Gilead, Snowflake, Purdue

Gokul Rajaram (also Director). DoorDash, Square, Facebook,

Fred Wilson (also Director). Union Square Ventures, Flatiron Partners, Etsy, MIT, Wharton

Shares Beneficially Owned Prior to the Effectiveness of the Registration StatementPercent of Total Voting Power %Shares of Class A Common Stock Registered
Class AClass B
Number%Number%
Named Executive Officers and Directors:
Brian Armstrong(1)2,753,924 9.4 36,851,833 21.6 21.5 36,851,833 
Surojit Chatterjee(2)2,002,036 7.0 — — *5,344 
Paul Grewal(3)915,331 3.3 — — *3,808 
Marc Andreessen(4)5,516,037 20.8 23,961,498 14.1 14.1 — 
Frederick Ernest Ehrsam III(5)2,570,459 9.7 15,114,503 8.9 8.9 15,114,503 
Kathryn Haun(6)181,000 *286,854 **467,854 
Kelly Kramer— — — — — — 
Gokul Rajaram— — — — — — 
Fred Wilson(7)— — 13,902,324 8.2 8.1 — 
All executive officers and directors as a group (11 persons)(8)15,998,205 46.8 91,947,012 53.5 53.5 52,768,137 
Other 5% Stockholders:
E Entities affiliated with Andreessen Horowitz(9)5,516,037 20.8 23,961,498 14.1 14.1 29,477,535 
E Entities affiliated with Paradigm(10)2,570,459 9.7 — — *2,570,459 
E Entities affiliated with Ribbit Capital(11)— — 11,995,949 7.0 7.0 — 
Ti Tiger Global Private Investment Partners XI, L.P.(12)2,624,880 9.9 — — *— 
E Entities affiliated with Union Square Ventures(13)— — 13,902,324 8.2 8.1 13,902,324 
Vi Viserion Investment Pte Ltd.(14)1,381,518 5.2— — *— 
Other Registered Stockholders:
N Non-Executive Officer and Non-Director Current and Former Service Providers(15)17,111,799 42.915,991,864 9.09.411,768,185 
All Other Registered Stockholders(16)4,224,755 15.93,870,923 2.32.44,364,129 

__________________

*Represents beneficial ownership of less than 1% of our outstanding shares of common stock.

(1)Represents (i) 2,753,924 shares underlying options to purchase Class A common stock that are exercisable within 60 days of March 15, 2021; (ii) 25,959,129 shares of Class B common stock held by The Brian Armstrong Living Trust; (iii) 2,215,422 shares of Class B common stock held by the Brian Armstrong 2018 Grantor Retained Annuity Trust; (iv) 7,726,792 shares of Class B common stock held by the Brian Armstrong 2020 Grantor Retained Annuity Trust; and (v) 950,490 shares of Class B common stock held by The Ehrsam 2014 Irrevocable Trust, of which Mr. Armstrong is trustee.

(2)Represents (i) 5,344 shares of Class A common stock and (ii) 1,996,692 shares underlying options to purchase Class A common stock that are exercisable within 60 days of March 15, 2021.

(3)Represents (i) 3,808 shares of Class A common stock and (ii) 911,523 shares underlying options to purchase Class A common stock that are exercisable within 60 days of March 15, 2021.

(4)Represents (i) 5,516,037 shares of Class A common stock and (ii) 23,961,498 shares of Class B common stock held by entities affiliated with Andreessen Horowitz, as reflected in footnote 9 below. Mr. Andreessen, a member of our board of directors, is a general partner of Andreessen Horowitz, and therefore, may be deemed to share voting and investment power with regard to the shares held directly by Andreessen Horowitz. The address for Mr. Andreessen is c/o Andreessen Horowitz, 2865 Sand Hill Road, Suite 101, Menlo Park, CA 94025.

(5)Represents (i) 8,425,831 shares of Class B common stock held by The Frederick Ernest Ehrsam III Living Trust; (ii) 2,997,461 shares of Class B common stock held by The Frederick Ernest Ehrsam III 2020 Grantor Retained Annuity Trust; (iii) 601,637 shares of Class B common stock held by the Brian Armstrong Legacy Trust, of which Mr. Ehrsam is trustee; (iv) 3,089,574 shares of Class B common stock held by The Armstrong 2014 Irrevocable Trust, of which Mr. Ehrsam is trustee, and (v) 2,570,459 shares of Class A common stock held by Paradigm Fund L.P., as reflected in footnote 10 below. Mr. Ehrsam, a member of our board of directors, is a managing member of Paradigm Fund L.P., and, therefore, may be deemed to have voting and investment power with regard to the shares held directly by Paradigm Fund L.P.

(6)Represents (i) (A) 181,000 shares of Class A common stock and (B) 19,000 shares of Class B common stock held by EZT Trust; (ii) 150,000 shares of Class B common stock held by Gheradesca Annuity Trust; and (iii) 117,854 shares of Class B common stock held by Gheradesca LLC, of which 6,223 shares are unvested and subject to repurchase by us.

(7)Represents 13,902,324 shares of Class B common stock held by entities affiliated with Union Square Ventures, as reflected in footnote 13 below. Mr. Wilson, a member of our board of directors, is a general partner of Union Square Ventures, and therefore, may be deemed to share voting and investment power with regard to the shares held directly by Union Square Ventures. The address for Mr. Wilson is c/o Union Square Ventures, 915 Broadway, 19th Floor, New York, NY 10010.

(8)Represents (i) 8,281,992 shares of Class A common stock; (ii) 90,436,463 shares of Class B common stock; (iii) 7,693,188 shares underlying options to purchase shares of Class A common stock that are exercisable within 60 days of March 15, 2021;

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(iv) 1,510,549 shares underlying options to purchase shares of Class B common stock that are exercisable within 60 days of March 15, 2021; and (v) 23,025 shares of Class A common stock subject to RSUs that are settleable within 60 days of March 15, 2021. As of March 15, 2021, executive officers and directors as a group held an aggregate of (i) 16,987,099 shares underlying options to purchase shares of Class A common stock; (ii) 1,510,549 shares underlying options to purchase shares of Class B common stock; and (iii) 689,433 shares of Class A common stock subject to RSUs.

(9)Represents (i) 27,630 shares of Class A common stock and 21,714,684 shares of Class B common stock held by Andreessen Horowitz Fund III, L.P., for itself and as nominee for Andreessen Horowitz Fund III-A, L.P., Andreessen Horowitz Fund III-B, L.P., and Andreessen Horowitz Fund III-Q, L.P., which are collectively referred to as the “AH Fund III Entities”; (ii) 4,618,842 shares of Class A common stock held by Andreessen Horowitz LSV Fund I, L.P., for itself and as nominee for Andreessen Horowitz LSV Fund I-B, L.P. and Andreessen Horowitz LSV Fund I-Q, L.P., which are collectively referred to as the “AH LSV Fund I Entities”; (iii) 1,817,334 shares of Class B common stock held by AH Parallel Fund III, L.P., for itself and as nominee for AH Parallel Fund III-A, L.P., AH Parallel Fund III-B, L.P., and AH Parallel Fund III-Q, L.P., which are collectively referred to as the “AH Parallel Fund III Entities”; (iv) 429,480 shares of Class B common stock held by a16z Seed-III, L.L.C., which is referred to as “a16z Seed”; and (v) 869,565 shares of Class A common stock held by CNK Fund I, L.P., for itself and as nominee for CNK Fund I-B, L.P. and CNK Fund I-Q., L.P, which are collectively referred to as the “CNK Fund I Entities”. AH Equity Partners III, L.L.C. (“AH EP III”), the general partner of the AH Fund III Entities, may be deemed to have sole voting and dispositive power over the shares held by the AH Fund III Entities. The managing members of AH EP III are Marc Andreessen and Ben Horowitz, and each of them may be deemed to hold shared voting and dispositive power over the shares held by the AH Fund III Entities. AH Equity Partners LSV I, L.L.C. (“AH EP LSV I”), the general partner of the AH LSV Fund I Entities, may be deemed to have sole voting and dispositive power over the shares held by the LSV Fund I Entities. The managing members of AH EP LSV I are Marc Andreessen and Ben Horowitz, and each of them may be deemed to hold shared voting and dispositive power over the held by the AH LSV Fund I Entities. AH Equity Partners III (Parallel), L.L.C. (“AH EP III Parallel”), the general partner of the AH Parallel Fund III Entities, may be deemed to have sole voting and dispositive power over the shares held by the AH Parallel Fund III Entities. The managing members of AH EP III Parallel are Marc Andreessen and Ben Horowitz, and each of them may be deemed to hold shared voting and dispositive power over the shares held by the AH Parallel Fund III Entities. The AH Fund III Entities are the members of a16z Seed, and each of them may be deemed to hold shared voting and dispositive power over the shares held by a16z Seed. AH EP III, the general partner of the AH Fund III Entities, may be deemed to have sole voting and dispositive power over the shares held by a16z Seed. The managing members of AH EP III are Marc Andreessen and Ben Horowitz, and each of them may be deemed to hold shared voting and dispositive power over the shares held by a16z Seed. CNK Equity Partners I, L.L.C. (“CNK EP I”), the general partner of the CNK Fund I Entities, may be deemed to have sole voting and dispositive power over the shares held by the CNK Fund I Entities. The managing members of CNK EP I are Marc Andreessen and Ben Horowitz, and each of them may be deemed to hold shared voting and dispositive power over the shares held by the CNK Fund I Entities. Shares held by each of these entities include shares that may be subsequently sold by each of Marc Andreessen, Ben Horowitz and Kathryn Haun following in-kind distributions of shares by these entities. The address for each of these entities is 2865 Sand Hill Road, Suite 101, Menlo Park, CA 94025.

(10)Represents 2,570,459 shares of Class A common stock held by Paradigm Fund L.P. Paradigm Fund GP LLC, the general partner of Paradigm Fund L.P. has sole voting and investment power with regard to the shares held by Paradigm Fund L.P. The Frederick Ernest Ehrsam III Living Trust and Matt Huang are the managing members of Paradigm Fund GP LLC. Mr. Ehrsam is the trustee of The Frederick Ernest Ehrsam III Living Trust. Shares held by Paradigm Fund L.P. include shares that may be subsequently sold by each of Frederick Ernest Ehrsam III Living Trust and Matt Huang following in-kind distributions of shares by such entity. The address for this entity is c/o Maples Corporate Services Limited, Ugland House, PO Box 309, George Town, Grand Cayman E9 KY1-1104.

(11)Represents (i) 1,020,672 shares of Class B common stock held by CB-D Ribbit Opportunity I, LLC; (ii) 10,089,161 shares of Class B common stock held by Ribbit Capital, L.P.; (iii) 560,610 shares of Class B common stock held by CB Ribbit Holdings, LLC; and (iv) 325,506 shares of Class B common stock held by CB Ribbit Opportunity I, LLC. The address for this entity is 364 University Avenue, Palo Alto, CA 9430.

(12)Represents 2,624,880 shares of Class A common stock held by Tiger Global Private Investment Partners XI, L.P, an affiliate of Tiger Global Management, LLC. The address for this entity is c/o Tiger Global Management, LLC, 9 West 57th Street, 35th Floor, New York, NY 10019.

(13)Represents (i) 11,626,100 shares of Class B common stock held by Union Square Ventures 2012 Fund, L.P., or USV 2012 Fund; (ii) 449,762 shares of Class B common stock held by USV Investors 2012 Fund, L.P., or USV Investors 2012 Fund; (iii) 1,738,007 shares of Class B common stock held by USV Opportunity 2014, LP, or USV Opportunity 2014 Fund, and (iv) 88,455 shares of Class B common stock held by USV Opportunity Investors 2014, LP., or USV Opportunity Investors 2014 Fund. Union Square 2012 GP, L.L.C., or Union Square 2012, is the general partner of USV 2012 Fund and USV Investors 2012 Fund, and has sole voting and investment power with regard to the shares held by USV 2012 Fund and USV Investors 2012 Fund. USV Opportunity 2014 GP, LLC, or USV Opportunity 2014, is the general partner of USV Opportunity 2014 Fund and USV Opportunity Investors 2014 Fund, and has sole voting and investment power with regard to the shares held by USV Opportunity 2014 Fund and USV Opportunity Investors 2014 Fund. We refer to Union Square 2012 and USV Opportunity 2014 and affiliated entities as Union Square Ventures. Fred Wilson, Brad Burnham, Albert Wenger, John Buttrick, and Andy Weissman are partners at Union Square Ventures and, therefore, may be deemed to have shared voting and investment power with regard to the shares held directly by Union Square Ventures. Shares held by each of these entities include shares that may be subsequently sold by each of Fred Wilson, Brad Burnham, Albert Wenger, John Buttrick, and Andy Weissman following in-kind distributions of shares by these entities. The address for each of these entities is 915 Broadway, 19th Floor, New York, NY 10010.

(14)Represents 1,381,518 shares of Class A common stock held by Viserion Investment Pte Ltd. Viserion Investment Pte. Ltd. shares the power to vote and the power to dispose of these shares with GIC Special Investments Pte. Ltd., or GIC SI, and GIC Private Limited, or GIC, both of which are private limited companies incorporated in Singapore. GIC SI is wholly owned by GIC

Our Spirit | December 16, 2021 at 9:42 pm | Categories: BankingCryptocurrency | URL: https://wp.me/p9v0KQ-2rf

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