Is Coinbase a stock to avoid? No, quite the opposite says this leading tech-focused investment house
If this is the crypto winter, then Coinbase may be one of the last businesses standing once the thaw comes, Wedbush reckons
Company
NASDAQ:COIN
Coinbase is a digital currency exchange headquartered in San Francisco, California, United States. They broker exchanges of Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Tezos, and many other cryptocurrencies, with fiat currencies in approximately 32 countries, and bitcoin transactions and storage in 190 countries worldwide.
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If this is the crypto winter, then Coinbase may be one of the last businesses standing once the thaw comes, Wedbush reckons
COIN shares fall 10% after US1bn in losses disclosed
While second-quarter revenues will likely decline, recent announcements bode well for Coinbase
Investments and investor services
An estimated US$77mln was offloaded by the fund manager
At least nine crypto assets in the SEC’s cross hairs
Cryptocurrency markets rallied over 12% in the past week
Binance recently flipped Coinbase’s Bitcoin reserves, though Coinbase’s institutional clients also went bullish
DeFi markets continue to add value, though not all platforms on a roll
In June, one of its largest rival exchanges, Binance, also obtained consent in Italy
Monthly audits to be conducted by Big Four firm KPMG
Bitcoin’s recent slump has put pressure on firms across the cryptoverse
Crypto exchange boss says the business over-hired in 2021
Fortune 500 says further revenue declines could cause Coinbase to fall off the prestigious list this year
This was all sparked by a torrid start to the year for crypto, which has shaken investors’ confidence and seen both Bitcoin and Ethereum shed over 55% in value from their November all-time highs
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Comment of the DayVideo commentary for May 12th 2022A link to today's video commentary is posted in the Subscriber's Area. Some of the topics discussed include: Dollar breaks higher, Yen strengthen, Bond yields contract. bitcoin tests secul
Coinbase chief executive Brian Armstrong took to Twitter in an attempt to reassure investors that their funds were safe
It expects trading volume and monthly users to continue to decline in the second quarter
Other reports are expected from Sage Group, Balfour Beatty, Palantir and Rivian
Coinbase said it wants the platform to be 'more than just buying and selling'
Many experts are claiming that the country may try to escape the West's sanctions with crypto