Streetbeat News

COIN

Coinbase Global, Inc.

https://www.coinbase.com

Industry

Software - Application

Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment. Coinbase Global, Inc. was founded in 2012 and is based in Wilmington, Delaware.

Open

282.51

Mkt cap

77B

Volume

18M

High

306.45

P/E Ratio

52.02

52-wk high

334.86

Low

276.02

Div yield

N/A

52-wk low

94.90

Benzinga's top stories last week include bullish and bearish views on Tesla, Apple, Netflix, AMD, and Nvidia. The market is celebrating the Federal Reserve's decision to hold off on interest rate hikes this month. Tesla's stock surge, Netflix's clamp down on password sharing, and AMD's AI Tech Premiere were among the bullish news, while Apple's downgrade, JPMorgan's warning to the crypto sector, and Nvidia insiders selling shares were among the bearish news.

Portfolio Pulse from Michael Cohen

June 17, 2023 | 1:50 pm

BlackRock, the largest ETF issuer, is entering the Bitcoin market with a proposed iShares Bitcoin Trust, which could solidify cryptocurrency as an investment asset. The trust's shares will be listed on NASDAQ, and Coinbase Global Inc Custody Trust Company will be the custodian for the Trust's Bitcoin holdings.

Portfolio Pulse from Murtuza Merchant

June 16, 2023 | 7:29 pm

Bakkt has removed Solana (SOL), Polygon (MATIC), and Cardano (ADA) from its listings pending further clarity from the SEC. This follows the SEC's lawsuits against Binance and Coinbase, accusing them of providing unregistered securities. Bakkt continues to list eight cryptocurrencies, including Dogecoin, Litecoin, USD Coin, Shiba Inu, Bitcoin, and Ether.

Portfolio Pulse from Murtuza Merchant

June 16, 2023 | 7:13 pm

Coinbase Global Inc (NASDAQ:COIN) has launched a 4% rewards program for USD Coin (CRYPTO: USDC) despite ongoing scrutiny from the U.S. Securities and Exchange Commission (SEC). The program aims to encourage users to expand their funds and explore the cryptocurrency ecosystem.

Portfolio Pulse from Murtuza Merchant

June 16, 2023 | 3:54 pm

Binance announced it will cease operations in the Netherlands due to regulatory hurdles. The company has been unsuccessful in securing VASP registration in the country. This comes amid Binance's ongoing struggles with regulators, including scrutiny from the U.S. SEC.

Portfolio Pulse from Murtuza Merchant

June 16, 2023 | 2:03 pm

BlackRock is filing an application for a Bitcoin ETF, with Coinbase named as the custodian for the Trust's Bitcoin holdings. The iShares Bitcoin Trust shares will be listed and traded on NASDAQ, making the crypto asset class more accessible to institutional investors.

Portfolio Pulse from Jose Rodrigo Safdiye

June 15, 2023 | 9:54 pm

iShares Bitcoin Trust has filed an S-1 with the SEC, indicating that Coinbase Custody Trust Company will be the custodian for the trust's Bitcoin holdings.

Portfolio Pulse from Charles Gross

June 15, 2023 | 9:30 pm

ResearchHub, co-founded by Coinbase CEO Brian Armstrong, has raised $5 million in seed funding to expand its platform and develop new features. The startup aims to revolutionize the scientific community by creating a tokenized social network that rewards scientists for sharing scholarly content using ResearchCoin (CRYPTO: RSC).

Portfolio Pulse from Murtuza Merchant

June 15, 2023 | 6:57 pm

Mizuho analyst Dan Dolev reiterated a Sell rating on Coinbase Global, Inc (NASDAQ:COIN) with a price target of $27.00, believing that COIN is losing its share in retail crypto trading to Robinhood Markets, Inc (NASDAQ:HOOD). COIN's higher fees on small-ticket crypto trades and regulatory pressures are cited as potential reasons for the loss in market share.

Portfolio Pulse from Anusuya Lahiri

June 15, 2023 | 5:59 pm

Binance U.S. affiliate is laying off around 50 employees following SEC charges against the company. This may impact the cryptocurrency market and related stocks.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 5:44 pm

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