Coinbase Targeted In Bear Cave Report: Why Increased Competition, Brian Armstrong''s Leadership Could Be Bad For Business Cryptocurrency exchange Coinbase Global (NASDAQ: COIN ) is the latest subject of a bearish report from The Bear Cave, a subscription newsletter service that says it exposes “bad companies.” Here’s the highlights of the report. What Happened: The report highlights the key points of Coinbase losing over $1 billion in the last reported fiscal quarter and what could happen if the company goes bankrupt. Bear Cave said that Coinbase warned that if it declares bankruptcy, “customers could be treated as our general unsecured creditors.” The report also highlights increased competition in the crypto space and “failing leadership.” Among competitors in the space, Bear Cave name checks many crypto specific platforms like Binance, Crypto.com and FTX, along with stock trading platforms like Robinhood Markets (NASDAQ: HOOD ), WeBull, eToro and others that also allow crypto transactions. “Two days ago, Schwab, Citadel Securities, Fidelity’s Digital Asset division and Virtu Financial formed EDX Markets, a new crypto exchange,” the report said. “Because many of Coinbase’s new competitors have services beyond cryptocurrency trading, they can offer crypto trading at no cost as …