{
  "ticker": "COIN",
  "company": "Coinbase Global, Inc.",
  "cik": "0001679788",
  "exchange": "NASDAQ",
  "gics_sector": "Financials",
  "industry": "Financials",
  "logo_url": "https://www.google.com/s2/favicons?domain=coinbase.com&sz=128",
  "from_state": "DE",
  "to_state": "TX",
  "effective_date_iso": "2025-12-15",
  "actual_effective_date_iso": "2025-12-15",
  "proposed_effective_date_iso": null,
  "source_confidence": "VERIFIED_EFFECTIVE",
  "is_legal_precedent": 0,
  "vote_mechanism": "WRITTEN_CONSENT",
  "approval_basis": "Written consent (no Item 5.07 tabulation)",
  "threshold_result": null,
  "event_type": null,
  "two_attempt_flag": 0,
  "prior_failed_vote_flag": 0,
  "governance_concession_redo_flag": 0,
  "subsequent_event_flag": 0,
  "subsequent_event_type": null,
  "subsequent_event_date_iso": null,
  "subsequent_event_note": null,
  "public_tier": "VERIFIED_TRACKER",
  "event_study_announcement_json": "{\"event_date\":\"2025-10-28\",\"event_tag\":\"announcement\",\"estimation_window\":\"2024-11-11 to 2025-10-27 (240 days)\",\"specifications\":[{\"name\":\"Synthetic control (11-donor Financials peer pool)\",\"day0_ar\":0.0058534625400000345,\"p_value\":null,\"p_label\":\"no inference (point estimate)\",\"extra\":{\"pre_rmspe\":0.02849029755699816,\"n_donors\":11,\"top_weights\":{\"HOOD\":0.3465,\"GBTC\":0.2119,\"MSTR\":0.1665,\"RIOT\":0.1379,\"CLSK\":0.1144},\"r2_pre\":-4.1045113257208445}},{\"name\":\"Market model (SPY benchmark)\",\"day0_ar\":-0.02360901382564793,\"p_value\":0.5744595279017157,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":0.0009590252856995188,\"beta\":2.0588342289892005,\"r2\":0.2729809700470872}},{\"name\":\"Sector-augmented model (SPY + Bank sector ETF (KBE))\",\"day0_ar\":-0.021028837404872686,\"p_value\":0.6152604847061784,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":0.0011812029916971089,\"beta_mkt\":1.6715078674792057,\"beta_sector\":0.37922630317866857,\"r2\":0.28000833496673416},\"is_headline\":true},{\"name\":\"Matched pair (vs HOOD, market-model-adjusted)\",\"day0_ar\":-0.013748331656950438,\"p_value\":0.801547400223944,\"p_label\":\"two-sided p-value\",\"extra\":{\"se\":0.054699049606128605,\"t\":-0.2513449823342094}},{\"name\":\"Raw differential vs HOOD\",\"day0_ar\":-0.019855519571711833,\"p_value\":null,\"p_label\":\"no inference\",\"extra\":{}}],\"robustness\":{\"pretrend_test\":{\"slope_pct_per_day\":0.002200684856491026,\"p_slope\":0.6310573771104473,\"verdict\":\"no_pretrend_detected\"},\"sign_test\":{\"n_same_direction\":9,\"n_total\":11,\"binomial_p_two_sided\":0.0654296875},\"synth_fit\":{\"pearson_corr\":0.7760312865768252,\"r_squared_levels\":-4.1045113257208445,\"durbin_watson\":1.7605999091134839}},\"per_window\":[],\"_source\":\"Source A: phase4v cohort runner (5 specs + robustness, 2026-04-28 yfinance pull); joined into data.json by phase5z_join_full_battery.py\",\"event_kind\":\"announcement\",\"t0_source_field\":\"announcement_date_iso\"}",
  "announcement_date_iso": "2025-10-28",
  "meeting_date_iso": "2025-11-04",
  "vote_result": "APPROVED",
  "status_label": "COMPLETED",
  "market_cap_usdmm": 54486.6,
  "bucket_class": "B1",
  "public_bucket_code": "C",
  "public_bucket_label": "Post-SB29 DExit completed (Texas)",
  "public_bucket_subcode": "C-TX",
  "panel_eligibility": "PANEL_A_post_SB29",
  "transaction_status": "COMPLETED",
  "audit_status": "VERIFIED_EDGAR",
  "audit_notes": "VERIFY: Coinbase effective 2025-12-15 (post-SB 29); must be excluded from Panel B. | Effective date present but no Accession URL in v6 rev78; retrieve from EDGAR. | [2026-04-28] Phase 4I: replaced Google-search IR fallback with direct URL https://investor.coinbase.com/ | [2026-04-28] Phase 4N: synthesized event_study_announcement_json from existing scalar CAR cells (phase4a_v2 join). Reviewer can extend with multi-spec analysis.\n[2026-04-29] phase5g: vote_source set DEF 14C acc=0001679788-25-000218 url=https://www.sec.gov/Archives/edgar/data/1679788/000167978825000218/coin-pre14cinformationstat.htm (written-consent transaction; reviewer: https://www.sec.gov/Archives/edgar/data/1679788/000167978825000218/coin-pre14cinformationstat.htm PRE 14C information statement filed 2025-12 confirming COIN reincorporation approved by majority shareholder written consent (no shareholder meeting). 'Meeting' date 2025-12-09 in xlsx is the consent execution date. Note: this is PRE 14C; if a DEF 14C was subsequently filed it would be the legally-final document.)\n[2026-04-29] phase5g: vote_source set DEF 14C acc=0001679788-25-000218 url=https://www.sec.gov/Archives/edgar/data/1679788/000167978825000218/coin-pre14cinformationstat.htm (written-consent transaction; reviewer: https://www.sec.gov/Archives/edgar/data/1679788/000167978825000218/coin-pre14cinformationstat.htm PRE 14C information statement filed 2025-12 confirming COIN reincorporation approved by majority shareholder written consent (no shareholder meeting). 'Meeting' date 2025-12-09 in xlsx is the consent execution date. Note: this is PRE 14C; if a DEF 14C was subsequently filed it would be the legally-final document.)\n[2026-04-29] phase5q: COIN meeting_date_iso 2025-12-09 -> 2025-11-04 (written-consent execution date, not a meeting date); vote_mechanism None -> WRITTEN_CONSENT; primary source: 8-K filed 2025-12-15 (acc 0001679788-25-000247) at https://www.sec.gov/Archives/edgar/data/1679788/000167978825000247/coin-20251215.htm stating 'On November 4, 2025, stockholders of the Company holding a majority of the voting power of outstanding capital stock approved the reincorporation' (written consent in lieu of meeting; consistent with PRE 14C/DEF 14C info statement structure); bug found 2026-04-29 via WebSearch validation pass (Tier-1 self-validation)\n[2026-04-29] phase5r: bucket 'C' -> 'B1' (DE->TX effective 2025-12-15 >= SB29 -> bucket B1)\n[2026-04-29] phase5t: row independently validated by external Reviewer A; bucket and key dates match current dataset (v3.55)\n[2026-04-29] phase5u: row independently validated by external Reviewer (full-residual pass, 78/276 substantive answers); validations applied: V_DATE_ANN=CONFIRM; V_BUCKET=WRONG=B1; primary-source URLs all under https://www.sec.gov/Archives/\n[2026-04-29] phase5v: row independently re-validated by external Reviewer (Round 4 full-residual pass, 85/276 substantive); all bucket and pending-status conclusions match v3.57\n[2026-04-29] phase5w: comprehensive validation by external reviewer across tranches v5 (4-version full residual walk, 269 substantive answers across 52 firms, 0 bucket drifts vs v3.58) | [2026-04-29] v3.75: written-consent transaction; approval_pct NULL by design per protocol \u00a73.7. Standard derived from DGCL \u00a7228. Per-firm consent threshold pincite pending PRE 14C / 8-K review. | [2026-04-29] v3.75: PINCITE-VERIFIED via PRE 14C acc 0001679788-25-000218: 'stockholders holding approximately 78.40% of the voting power approved the reincorporation via written consent on November 4, 2025.' Standard: DGCL \u00a7228 (action by written consent in lieu of meeting) requires holders of at least the minimum number of votes that would be necessary at a meeting \u2014 here, majority of voting power of outstanding shares.",
  "edgar_accession": "0001679788-25-000247",
  "edgar_accession_note": null,
  "links": [
    {
      "label": "IR",
      "url": "https://investor.coinbase.com/",
      "link_type": "ir"
    },
    {
      "label": "EDGAR",
      "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001679788&type=&dateb=&owner=include&count=40",
      "link_type": "search"
    },
    {
      "label": "Proxy",
      "url": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001679788&type=DEF+14A&dateb=&owner=include&count=40",
      "link_type": "search"
    }
  ],
  "car": {
    "value": -0.02149057945382907,
    "pvalue": 0.4210526315789473,
    "significant_5pct": 0,
    "specification": "synthetic_control",
    "event_date": "2025-04-02",
    "event_tag": "filing_date",
    "confound": "HIGH",
    "placebo_ratio": 0.988533155457351,
    "pre_rmspe": 0.02416823015776329,
    "source": "Event_Studies/results/per_firm_event_study.csv",
    "status": "ESTIMATED",
    "pooled_3primary": 0.2413534289264218,
    "t0_a": 0.2721283075897094,
    "t0_b": 0.03128993919645085,
    "t0_c": -0.06206481785973843,
    "announce": {
      "value": -0.02149057945382907,
      "pvalue": 0.4210526315789473,
      "specification": "synthetic_control",
      "event_date": "2025-04-02"
    },
    "vote": {
      "value": 0.03128993919645085,
      "pvalue": null,
      "specification": "panel_A_T0_vote",
      "event_date": null
    }
  },
  "votes_for": null,
  "votes_against": null,
  "votes_abstain": null,
  "votes_broker_nonvote": null,
  "approval_pct": null,
  "votes_for_disinterested": null,
  "votes_against_disinterested": null,
  "votes_abstain_disinterested": null,
  "votes_broker_nonvote_disinterested": null,
  "approval_pct_disinterested": null,
  "approval_basis_disinterested": null,
  "announcement_PRE_14A_accession": null,
  "announcement_PRE_14A_url": null,
  "vote_source_8k_accession": "0001679788-25-000218",
  "vote_source_8k_url": "https://www.sec.gov/Archives/edgar/data/1679788/000167978825000218/coin-pre14cinformationstat.htm",
  "vote_proposal_title": null,
  "meeting_type": null,
  "approval_standard": "majority of voting power of outstanding shares of capital stock entitled to vote (written consent under DGCL \u00a7228)",
  "companion_proposal": null,
  "proxy_advisors": null,
  "management_response": null,
  "press_coverage": [],
  "prior_vote": null,
  "panel_a_tx_incumbent": 0,
  "panel_b_dexit_mover": 1,
  "texas_statutory_adoptions": {
    "tboc_21_552": {
      "name": "SB 29 \u2014 TBOC \u00a721.552 derivative threshold",
      "adopted": 0,
      "source": null,
      "url": null,
      "date": null
    },
    "tboc_21_373": {
      "name": "SB 1057 \u2014 TBOC \u00a721.373 shareholder-proposal threshold",
      "adopted": null,
      "source": null,
      "url": null,
      "date": null
    }
  },
  "event_study_outcome_json": "{\"event_date\":\"2025-12-15\",\"event_kind\":\"outcome\",\"event_tag\":\"outcome\",\"t0_source_field\":\"actual_effective_date_iso\",\"estimation_window\":\"trailing 240 days; 240 valid after NaN drop\",\"specifications\":[{\"name\":\"Market model (SPY benchmark)\",\"day0_ar\":-0.060066102352518504,\"p_value\":0.11086208145205334,\"p_label\":\"Patell-z p-value\",\"extra\":{\"alpha\":-0.00038943406070416215,\"beta\":2.154297582165445,\"r2\":0.3396234143601339,\"sigma\":0.037594171711191664},\"is_headline\":true}],\"_meta\":{\"n_valid_pre_days\":240},\"_source\":\"Source B: phase4v3 NaN-safe runner (outcome/vote window, 2026-04-29 yfinance pull); joined by phase5z_join_full_battery.py\"}",
  "announcement_source_type": null,
  "announcement_accession_verified": "N",
  "date_quality_flag": "LOW",
  "controlled": 1,
  "controller_pct_voting_power": 50.0,
  "controller": "Brian Armstrong",
  "controller_source": "Dual-class B (10:1)",
  "event_study_longrun_json": "{\"event_kind\":\"longrun\",\"event_date\":\"2025-12-15\",\"t0_source_field\":\"actual_effective_date_iso\",\"horizons\":[{\"label\":\"BHAR_21d\",\"lay_label\":\"1 month\",\"horizon_days\":21,\"n_days_available\":21,\"bhar_vs_spy\":-0.06439845599491034,\"bhar_vs_sector\":-0.03666606947637663,\"sector_etf\":\"XLF\",\"patell\":{\"car\":-0.04957147845835303,\"z\":-0.2787383760972341,\"p_value\":0.7804456093501262,\"n\":21}},{\"label\":\"BHAR_63d\",\"lay_label\":\"3 months\",\"horizon_days\":63,\"n_days_available\":63,\"bhar_vs_spy\":-0.16671636495206554,\"bhar_vs_sector\":-0.08583513937048715,\"sector_etf\":\"XLF\",\"patell\":{\"car\":-0.042077690983654784,\"z\":-0.13660171952362934,\"p_value\":0.8913456172610734,\"n\":63}},{\"label\":\"BHAR_126d\",\"lay_label\":\"6 months\",\"horizon_days\":126,\"n_days_available\":93,\"bhar_vs_spy\":null,\"bhar_vs_sector\":null,\"sector_etf\":\"XLF\",\"patell\":null},{\"label\":\"BHAR_252d\",\"lay_label\":\"12 months\",\"horizon_days\":252,\"n_days_available\":93,\"bhar_vs_spy\":null,\"bhar_vs_sector\":null,\"sector_etf\":\"XLF\",\"patell\":null}],\"calendar_time_alpha\":{\"vs_spy\":{\"alpha_daily\":-0.005197246606410812,\"alpha_annualized\":-0.7310208512167429,\"t_stat\":-1.1883327924111184,\"p_value\":0.23470232313760198,\"n_days\":93,\"se_type\":\"Newey-West HAC, lag=5\"},\"vs_sector\":{\"alpha_daily\":-0.0020373803004132677,\"alpha_annualized\":-0.4018678500511643,\"t_stat\":-0.4257801803744698,\"p_value\":0.6702680302711115,\"n_days\":93,\"se_type\":\"Newey-West HAC, lag=5\"}},\"estimation_window\":\"trailing 240 days; market-model alpha+beta for Patell-z baseline\",\"_meta\":{\"n_post_days_available\":93,\"elapsed_days\":136,\"as_of\":\"2026-04-30\"},\"_source\":\"phase5z_compute_longrun.py; yfinance pull at run time\"}",
  "_evidence_strength": {
    "badge": "SILVER",
    "score": 75,
    "max": 100,
    "components": {
      "source_confidence": 30,
      "vote_totals": 0,
      "effective_date": 20,
      "car_estimate": 10,
      "edgar_accession": 15
    }
  },
  "_context_callout": "Mid-to-large-cap firm ($54.5B) with sufficient market depth for reliable event-study identification.",
  "_generated_at": "2026-04-30"
}