Thread by @FintechBalerina

1/ While we await @coinbase's listing, #InvestmentBanks are having record earnings. 10x the revenues of Coinbase in Q1. By that metric, given Coinbase is expected to hit 100B, all the #banks have to do is setup #cryptoexchange & volia! Trillion $ Banks:)

au.news.yahoo.com/goldman-sachs-…

2/Lets take @GoldmanSachs first: GS stomping expectations on both its top & bottom lines: $18/share: 510% gain TYoY. Revenues of $17.7B, a 102% YoY & +51% sequentially, leaving in dust the $11.97B estimate

@psb_dc @amitTwitr @thepsironi @cgledhill @ronitA380 @charlesdhaussy

3/@jpmorgan has close to half Trillion $ valuation: Adjusted EPS: $4.50 vs. $3.05 est. Revenue: $32.3 billion vs. $30.4B est. Q1, earned $14.3 billion in net income, up $11.4B YoY. That is 30x coinbase revenues. Markets? Revenue hit $9.1B, up 25%!!
Shine Bright Like a Di(a)mon!!

4/ @WellsFargo Earnings: $1.05 EPS versus $.70 est. This compares to EPS of $0.01 a year ago.
Revenue: $18.06 billion versus $17.5 billion est.
Profits you ask? Profit of almost $5 billion in Q1. Enough to fund the entire @GrabSG's #SPAC & PIPE

5/ If any of these banks decide to setup a #crypto exchange, in lieu with what @dbsbank is doing, I wonder where their valuation will go to??
Profit making: Check
REgulated: Check
Global Presence: Check
Crypto: Soon to be checked.
The Trillion Dollar Bank is not far away.

Oh the irony!#crypto will be a potential enabler to enriching the very institutions @Bitcoin was created to eliminate. @coinbase's listing is the cherry on this ironic cake: Centralised #cryptoexchange serving "#decentralised economy, listing on #wallstreet - funded by mainstreet

@threadreaderapp unroll the Kraken