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

257.67

Mkt cap

68B

Volume

17M

High

273.50

P/E Ratio

45.66

52-wk high

283.48

Low

257.15

Div yield

N/A

52-wk low

88.62

Coinbase Global, Inc (NASDAQ:COIN) stock is trading higher after receiving registration from France's AMF as a virtual asset service provider (VASP). This allows Coinbase to offer a range of digital currency services in France, aligning with the EU's upcoming Markets in Crypto Assets (MiCA) regulation. The expansion is seen as strategic amid a tougher U.S. regulatory environment, with the SEC targeting crypto companies. France's tech-forward stance under the 'France 2030' plan and growing crypto adoption make it an attractive market for Coinbase.

Portfolio Pulse from Anusuya Lahiri

December 21, 2023 | 5:23 pm

Cathie Wood's Ark Invest made significant trades on Wednesday, buying shares of Tesla (TSLA) and Meta Platforms (META), while selling shares of Coinbase (COIN) and Grayscale Bitcoin Trust (GBTC). The purchases were made through various Ark ETFs, including ARKK, ARKW, and ARKF. The trades reflect Wood's confidence in Tesla and Meta as tech innovators and her strategic adjustments to market volatility and potential regulatory changes in the crypto space.

Portfolio Pulse from Benzinga Neuro

December 21, 2023 | 2:49 am

Coinbase Global Inc. (NASDAQ:COIN) has seen its shares surge by over 381% in 2023, outperforming Bitcoin's 161% and Ethereum's 81% gains. ARK Invest, led by Cathie Wood, sold 34,261 COIN shares from its ARKK and ARKW ETFs. Coinbase co-founder Fred Ehrsam also sold 97,836 shares. Despite legal challenges with the SEC, Coinbase reported a 14% revenue increase in Q3 and is expanding globally, including PayPal integration in Germany and the U.K.

Portfolio Pulse from Khyathi Dalal

December 20, 2023 | 10:16 pm

Benzinga's options activity scanner has identified unusual options activity in the Financials sector, highlighting trades in 10 different stocks. The activity includes a mix of bullish, bearish, and neutral sentiments, with varying expiration dates and strike prices. Notable trades were observed in COIN, C, AFRM, WFC, RKT, HOOD, NYCB, BX, SQ, and GGAL, with significant total trade prices and volumes compared to open interest.

Portfolio Pulse from Benzinga Insights

December 20, 2023 | 5:35 pm

Ark Invest, led by Cathie Wood, sold shares of Coinbase Global Inc (COIN) and Robinhood Markets Inc (HOOD) amid crypto market volatility. The sales were conducted through ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). The firm also bought shares of Zoom Video Communications (ZM) and reduced holdings in UiPath Inc (PATH). These trades reflect Ark's strategy to adapt to market trends, especially in the tech and crypto sectors.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 4:33 am

Coinbase CEO appeared on CNBC to discuss the state of crypto regulation and the potential for a Bitcoin ETF. The conversation likely covered the regulatory environment for cryptocurrencies, Coinbase's position in the industry, and the implications of a Bitcoin ETF for investors.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:42 pm

Senator Elizabeth Warren has sent letters to Coinbase, the Blockchain Association, and Coin Center, questioning their hiring of former defense and national security officials. Warren is concerned about the crypto industry's use of these officials to gain legitimacy while opposing regulations aimed at preventing crypto from being used for terror financing. The industry defends its actions, stating that hiring experts is for bolstering legal compliance and innovation, and not to undermine bipartisan efforts in Congress.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:14 pm

Crypto-linked stocks Coinbase Global Inc (COIN), Riot Platforms Inc (RIOT), and CleanSpark Inc (CLSK) are trading higher due to an increase in Bitcoin's price, optimism about a potential spot ETF, and expectations of Federal Reserve rate cuts in 2024. Bitcoin crossed $40,000 and is currently moving upwards. Coinbase shares rose nearly 2%, Riot's by over 4.25%, and CleanSpark's by about 3.3%.

Portfolio Pulse from Adam Eckert

December 19, 2023 | 1:51 pm

Coinbase Global Inc. (NASDAQ:COIN) has submitted a petition to a federal appeals court, challenging the SEC's rejection of their proposal for new cryptocurrency regulations. The SEC, led by Chair Gary Gensler, voted 3-2 against establishing new rules tailored to the digital asset industry. Coinbase's legal action comes after an 18-month period without a response from the SEC. The issue highlights the ongoing debate over regulatory jurisdiction in the cryptocurrency sector, with differing views from various officials.

Portfolio Pulse from Murtuza Merchant

December 18, 2023 | 7:20 pm

Coinbase has filed a petition in a federal appeals court to review the SEC's decision to deny the crypto exchange's request for new digital asset sector rules. The SEC, with a 3-2 vote, declined to propose new rules, stating disagreement with Coinbase's claim that current regulations are 'unworkable' for the crypto industry.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 6:05 pm

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