SummaryCoinbase Global is a leading crypto company, but it faces both fundamental headwinds and a challenging crypto market.Coinbase's recent results were very negative, and short-term prospects aren’t much better.Its shares aren’t particularly cheap, thus I do not even see COIN stock as compelling for trading.As I've covered in previous articles, I'm a long-term investor and my portfolio is spread within a few secular growth trends, including digital payments, so I decided to take a look at Coinbase Global (COIN) as an alternative to other stocks that I own in this investing theme, namely PayPal (PYPL) and Block (SQ). However, I'm not impressed by its business fundamentals and the crypto winter is leading to very bad results, thus Coinbase is not a compelling investment right now.Coinbase OverviewCoinbase's core business is the offering of technology and financial infrastructure products and services that enable its customers to transact and engage with crypto assets. It serves clients worldwide and has close to 90 million customers, in more than 100 countries. Its aim is to be the leading financial services provider for retail and institutional users in the crypto asset ecosystem.Coinbase has been listed since 2021 and has nowadays a market value of about $20 billion, a much lower value than when it was listed. Indeed, its shares are down by more than 75% from its all-time high reached last November, due to a lower valuation...
