Is Cathie Wood's Favorite Crypto Stock a Buy?

Trading exchange Coinbase Global (NASDAQ: COIN) has suffered during the broader cryptocurrency sell-off as asset prices in popular cryptocurrencies have declined due to waning investor sentiment when compared to prior periods. Generally speaking, since its initial public offering a year ago, Coinbase's stock price has traded in lockstep with Bitcoin. While the company primarily serves as an exchange to buy and sell crypto tokens, Coinbase has a variety of other products and services, including non-fungible tokes (NFTs), crypto wallets, and advanced trading features like derivatives.