After becoming the first major US crypto company to be listed on an exchange almost four years ago through a direct listing, shares of Coinbase jumped some 260% in the past two years, valuing the company at roughly $53 billion. Those gains belie a roller-coaster ride for investors following a series of scandals hitting the sector and bankruptcies such as the collapse of the FTX exchange in 2022. More recently, the stock slumped almost 17% this year, weighed down by lackluster earnings and in contrast to an almost 10% gain for Bitcoin.