As of today, Bank of America said it will be shifting its rating on Coinbase shares from buy to neutral. Since its all-time high of $357.39 on November 9, 2021, the price of COIN has fallen 86%, trading at $45.36 right now, a decrease of 7% over the last 24
CEO and founder of Coinbase, Brian Armstrong, has spoken out about the cryptocurrency market’s current collapse. When asked about his feelings about the current crypto landscape, Coinbase’s CEO made it obvious that he is still positive despite the recent collapse of his competitor exchange, FTX. When asked about the former
Ripple, a blockchain payments firm, was sued by the SEC in December 2020. The lawsuit has been ongoing for over two years now. Ripple has gained support from a wide range of firms. A significant side issue in the continuing lawsuit between Ripple and the U.S. Securities and Exchange Commission
Coinbase’s newest wave of layoffs is an indication that the exchange may still be seeking to reduce expenses in the current crypto bear market. According to Thursday’s report by The Information, more than sixty employees in Coinbase’s recruitment and institutional onboarding divisions will be let go. Just five months ago,
420,949 shares of Coinbase (COIN) were acquired by Ark Invest, an investment company led by protracted Bitcoin advocate Cathie Wood, for just around $21.4 million, as reported by the firm’s daily transaction brief. About 33,000 of the total bought shares went to ARKK, the company’s flagship exchange-traded fund (ETF) that
Following Binance’s announcement that it will acquire FTX, Coinbase CEO Brian Armstrong went to Twitter to address customers’ worries about the exchange’s impact on his company. Armstrong began by expressing his empathy for everyone affected by the present FTX issue. In a series of Twitter threads, Armstrong cleared out a
BaFin, Germany’s Federal Financial Supervisory Authority, has mandated that Coinbase’s German subsidiary get its house in order. BaFin, Germany’s financial regulator, has said that it has discovered irregularities in how Coinbase Germany operates. The company’s corporate structure was criticized for allegedly violating applicable regulations. Moreover, after conducting an audit, the
Coinbase’s transaction revenue has decreased by 44% from the second quarter. Transaction revenue had dropped from $655.2M in the second quarter to $365.9M. Coinbase, the US-based cryptocurrency exchange platform’s transaction revenues, dramatically decreased in the third quarter amid the global crypto market collapse. On Thursday, Coinbase (COIN) stated that the
10,880 Coinbase shares have been added to ARKF’s holdings. ARK owns 7.7M COIN shares & added about 2M shares to its holdings in the last year. ARK Fintech Innovation, a leading exchange-traded fund (ETF) is increasing its holdings on the Coinbase trading platform. According to recent reports, ARK Invest’s Fintech
The USDC is a third of the treasury supporting Maker’s Peg Stability Module. The DAO will receive up to 1.5% rewards on the assets. After being presented by Coinbase Institutional on September 6, the proposal passed with 75% approval on Monday afternoon. The USDC is a third of the treasury
