Coinbase Is Really A $100 Billion Crypto Cult

(Bloomberg Opinion) — Coinbase Global Inc. plans to go public under a direct listing that values the largest U.S. digital-asset exchange at almost $100 billion. The service the company offers is the same basic principle as a stock brokerage, giving retail investors access to the cryptocurrency markets, but that’s where the similarities end. Coinbase has frequent service outages, nonexistent customer service and sky-high transaction…