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Coinbase Global Inc

Coinbase Global Inc (COIN)

Closed June 24 4:00PM
( 2.09% )
Pre Market: 8:48AM


StrikeBid PriceAsk PriceLast PriceMidpointChangeChange %VolumeOPEN INTLast Trade
185.0027.0127.0127.0127.010.000.00 %017-
190.0021.3524.1523.7022.75-20.37-46.22 %16106/24/2024
195.0017.1520.2017.2018.675-11.75-40.59 %1396/24/2024
200.0013.3515.9014.1814.625-11.26-44.26 %166866/24/2024
202.5013.0513.0513.0513.050.000.00 %02,006-
205.009.9511.2011.0010.575-9.60-46.60 %285616/24/2024
207.508.4010.258.689.3250.000.00 %2,32306/24/2024
210.007.807.807.807.800.000.00 %0943-
212.506.257.106.736.6750.000.00 %1,22106/24/2024
215.005.605.605.605.600.000.00 %0718-
217.504.724.724.724.720.000.00 %0818-
220.003.553.903.823.725-7.58-66.49 %5,9199826/24/2024
222.502.813.802.833.305-7.07-71.41 %3,9803116/24/2024
225.002.552.552.552.550.000.00 %02,103-
227.501.842.152.101.995-5.30-71.62 %9584346/24/2024
230.001.701.801.731.75-4.62-72.76 %4,3941,5696/24/2024
232.501.361.391.371.375-4.03-74.63 %1,2094616/24/2024 %01,572-
237.500.501.051.000.775-2.95-74.68 %95526,1036/24/2024
240.000.770.770.770.770.000.00 %02,829-

Your Hub for Real-Time streaming quotes, Ideas and Live Discussions


StrikeBid PriceAsk PriceLast PriceMidpointChangeChange %VolumeOPEN INTLast Trade
185.000.410.410.410.410.000.00 %02,853-
190.000.700.700.700.700.000.00 %02,031- %2,3646536/24/2024 %10,8624,4856/24/2024
202.502.582.952.802.7650.000.00 %1,16706/24/2024
205.003.453.703.543.5752.06139.19 %2,3401,7576/24/2024
207.504.554.554.554.550.000.00 %0392-
210.005.585.585.585.580.000.00 %02,055-
212.506.506.506.506.500.000.00 %0242- %01,504-
217.5010.7710.7710.7710.770.000.00 %0346-
220.0011.1012.4012.3011.757.15138.83 %1,3261,7336/24/2024
222.5011.4514.5514.1513.007.95128.23 %1774776/24/2024
225.0014.6514.6514.6514.650.000.00 %01,972-
227.5016.2017.7517.9016.9758.7094.57 %823656/24/2024
230.0020.2520.2520.2520.250.000.00 %01,413-
232.5020.4522.2521.9621.358.4963.03 %1282416/24/2024
235.0022.8524.9523.8823.909.7368.76 %9471,6396/24/2024
237.5025.1027.0527.0126.07510.6965.50 %873166/24/2024
240.0027.4529.1026.5528.2759.3554.36 %1506286/24/2024

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COIN Discussion

View Posts
Investors3 Investors3 4 days ago
Coinbase (NASDAQ:COIN) – Coinbase launched a $2 million campaign targeting Latino voters in the US, promoting cryptocurrencies for remittances, highlighting lower fees with USD Coin.

Honeywell Acquires CAES Systems for $1.9 Billion, Sarepta Therapeutics Surges 34%, Gilead Continues Gains
June 21 2024 - 8:00AM
IH Market News

Honeywell (NASDAQ:HON) – Honeywell announced the acquisition of CAES Systems for $1.9 billion, focusing on expanding its aerospace and defense technology operations. Under the leadership of CEO Vimal Kapur since June 2023, Honeywell seeks growth in automation, future aviation, and energy transition, consolidating its third major deal of the year.

Sarepta Therapeutics (NASDAQ:SRPT) – The Food and Drug Administration (FDA) approved expanded indications for Elevidys, Sarepta Therapeutics’ treatment for Duchenne muscular dystrophy. The drug is now approved for both ambulatory and non-ambulatory individuals with confirmed DMD gene mutations, aged four and older. Sarepta Therapeutics surged 33.6% in pre-market trading.

Gilead Sciences (NASDAQ:GILD) – Gilead Sciences closed up 8.5% on Thursday after a study showed its semi-annual antiviral injection, lenacapavir, effectively prevented HIV in all female participants tested in South Africa and Uganda. This could potentially expand the market for HIV pre-exposure prophylaxis (PrEP). Gilead’s shares rose 5.3% in pre-market trading.

Novo Nordisk A/S (NYSE:NVO) – The World Health Organization (WHO) issued a warning about counterfeit batches of Novo Nordisk’s Ozempic, used for diabetes and obesity, found in Brazil, the UK, and the US. These counterfeit products pose health risks due to incorrect ingredients or the presence of harmful substances like insulin.

Nvidia (NASDAQ:NVDA) – Nvidia’s put options trading on Thursday saw significant volume, with 365,000 contracts at a $135 strike price and 250,000 at a $130 strike price. This increased the put-to-call ratio to 0.70 from 0.58 a few days prior. Volatility in Nvidia’s stock led to an intraday movement of over 6%, peaking and then falling 3.5%, closing at $130.78, putting Microsoft’s market capitalization back on top. Nvidia’s recent rise as the world’s most valuable company is driven by its AI chip leadership, with revenues expected to double to $120 billion. Despite risks of overvaluation and competition, investor optimism is sustained by the company’s innovation and profitability potential, with a P/E ratio starting the year at 25, now at 45, modestly above the five-year average of 41. However, not all investors are optimistic. Paul Wick of Seligman Investments has been reducing his Nvidia holdings due to concerns about profit growth prospects and high valuations. He compared Nvidia’s current situation to Cisco’s boom during the dot-com bubble, highlighting dependence on a few large customers as a significant risk. Nvidia shares fell 1.0% in pre-market trading.

Alphabet (NASDAQ:GOOGL) – A judge from Brazil’s Superior Court ended the investigation into Google and Telegram, accused of coordinating opposition to an anti-fake news bill, due to a lack of evidence for criminal proceedings.

Oracle (NYSE:ORCL) – Oracle plans to invest over $1 billion in Spain over 10 years, focusing on artificial intelligence and cloud computing. This investment aims to expand local capabilities, help companies adopt the cloud and comply with European regulations, and strengthen strategic partnerships like Telefónica España.

Autodesk (NASDAQ:ADSK) – Autodesk confirmed its annual shareholder meeting will occur on July 16, after a judge rejected Starboard Value’s attempt to delay it. Starboard sued the company seeking to postpone the meeting to nominate new directors following allegations of lack of transparency about accounting practices.

Micron Technology (NASDAQ:MU) – Micron is developing a project for up to four semiconductor factories in Syracuse but faces delays due to the discovery of endangered bats. This complexity highlights the challenges of combining industrial expansion with stringent environmental requirements, despite strong government support and plans to start construction in 2025.

Advanced Micro Devices (NASDAQ:AMD) – Advanced Micro Devices’ shares rose 4.5% on Thursday, driven by analyst Harsh Kumar’s optimistic outlook from Piper Sandler on its AI server business. Kumar highlighted AMD’s strong chip performance and its direct competition with Nvidia, along with expansion potential with key customers like Microsoft and Meta. AMD shares fell 0.55% in pre-market trading.

LendingTree (NASDAQ:TREE), Snowflake (NYSE:SNOW) – Hackers are auctioning consumer data from LendingTree’s subsidiary QuoteWizard after a data breach in a Snowflake-hosted database. LendingTree is investigating the impact and cooperating with Snowflake and Mandiant to understand the extent of the leak and its causes.

Trump Media & Technology Group (NASDAQ:DJT) – After regulators allowed potential stock dilution, Trump Media’s stock closed down 14.6% on Thursday and declined for five consecutive trading sessions, losing 33.9% during that period. The Securities and Exchange Commission approved the company’s registration statement and resale of shares and warrants this week. The stock rose 2.3% in pre-market trading on Friday.

AT&T (NYSE:T) – California rejected AT&T as the “provider of last resort,” preventing it from ending essential landline services for over 580,000 households. The decision aims to protect continued access to voice and 911 services, requiring AT&T to maintain these services until modern alternatives are available.

American Airlines (NASDAQ:AAL) – The American Airlines flight attendants’ union did not reach an agreement in the latest negotiations, moving closer to a strike. However, a strike requires permission from the National Mediation Board, a lengthy and complex process, making effective strikes difficult.

Southwest Airlines (NYSE:LUV) – The FAA is investigating an incident involving Southwest Airlines flight 4069, which departed from Las Vegas and descended abruptly to a low altitude near Oklahoma City’s airport on Wednesday. The minimum altitude alert sounded, and the crew was notified by an air traffic controller. The investigation follows multiple recent incidents with the airline.

United Airlines (NASDAQ:UAL) – A United Airlines aircraft, an Airbus SE A320, departed Bradley International Airport in Hartford en route to Denver International Airport but had to return to Connecticut after losing part of its engine cowling during takeoff on Thursday. There were no injuries, and the FAA is investigating the incident.

Boeing (NYSE:BA), Spirit AeroSystems (NYSE:SPR) – Boeing is close to finalizing the repurchase of Spirit AeroSystems after progress in negotiations with Airbus over program division. The deal aims to resolve a conflict over Airbus component manufacturing while Boeing seeks to strengthen its supply chain after 737 MAX issues. Additionally, Boeing is shifting engineers from the experimental X-66A project to support the production and delivery of the 737-7, 737-10, 777-9, and 777-8F models. This move aims to accelerate deliveries while maintaining commitments to customers and advancing zero-emission aviation goals with the X-66A in partnership with NASA.

Joby Aviation (NYSE:JOBY) – Joby Aviation received FAA approval to use its in-house software, ElevateOS, to manage air taxi operations, such as pilot workload and passenger coordination. Preparing for a 2025 launch, Joby plans to integrate the software with Uber and Delta Air Lines, facing technological and regulatory challenges.

Hertz Global Holdings (NASDAQ:HTZ) – Hertz plans to raise $750 million through secured notes to strengthen its balance sheet, facing challenges after losses with electric vehicles. The company faces high depreciation pressures and expectations of significant losses, alongside a strategic adjustment to reduce reliance on these vehicles.

General Motors (NYSE:GM) – Cruise, General Motors’ unit, received the maximum penalty for lacking transparency about an accident involving its autonomous vehicle in California. The fine totals $112,500, highlighting rigorous scrutiny of autonomous vehicle safety by regulators.

Ford Motor (NYSE:F) – Jim Farley, CEO of Ford, is tackling high recall costs, amounting to $4.8 billion annually. To improve quality, Farley adopted a strategy of retaining redesigned models for up to six weeks for additional checks, aiming to reduce future failures and warranty costs.

Toyota Motor (NYSE:TM) – Toyota suspended production and delivery of the Grand Highlander and Lexus TX SUVs due to an issue with the driver’s side curtain airbag. This affects 145,000 model year 2024 vehicles in the US, where the airbag may not deploy correctly if the driver’s window is down during certain crashes.

VinFast (NASDAQ:VFS), BYD (USOTC:BYDDY) – Electric vehicle sales are rapidly growing in Southeast Asia, with the Chinese BYD and Vietnamese VinFast leading the way. These brands are entering a market previously dominated by Japanese and Korean manufacturers. According to Counterpoint Research, EV sales in the region doubled in the first quarter compared to the previous year, while combustion car sales fell 7%. In Canada, Prime Minister Justin Trudeau’s government is considering imposing tariffs on electric vehicles made in China. This move aligns with similar policies in the US and the EU, which have already announced or plan to increase tariffs to curb these imports.

Chevron (NYSE:CVX), Hess (NYSE:HES), Exxon Mobil (NYSE:XOM) – An arbitration panel between Chevron and Hess, delayed by the non-appointment of the third arbitrator, is postponing the decision on Hess’s $53 billion sale to Chevron in Guyana. The dispute involves Exxon’s right of first refusal over Hess’s operations in the country, impacting the transaction’s conclusion.

Nikola (NASDAQ:NKLA) – Nikola announced a 1-for-30 reverse stock split to meet Nasdaq requirements, aiming to increase the share price. The move comes after disappointing first-quarter revenues and a significant drop in shares, which hit a historic low of 40 cents.

Mastercard (NYSE:MA), Visa (NYSE:V) – China is negotiating with Visa and Mastercard to reduce foreign card transaction fees in the country, aiming to facilitate payments for international visitors, according to Bloomberg. The proposal is to lower the fee from 2% to 1.5%.

PayPal (NASDAQ:PYPL) – PayPal hired Srini Venkatesan from Walmart as its new chief technology officer to lead advancements in artificial intelligence, information security, and product engineering. He brings significant experience in digital transformation and technology leadership, highlighting the company’s renewed focus on innovation and personalization to drive global commerce.

Upstart (NASDAQ:UPST) – Castlelake, a private credit lender, will acquire up to $1.2 billion in installment loans from Upstart to expand its presence in the retail lending sector. Investors are seizing opportunities in risky loans, driven by less restrictive regulations and high interest rates.

PicPay – The Brazilian mobile banking app with 35 million active customers owned by J&F Investimentos SA, is seeking an initial public offering in the U.S. in collaboration with Citigroup. The company intends to proceed as soon as market conditions allow, after having reported a net profit in 2023 and reached operational breakeven for the first time.

JPMorgan Chase (NYSE:JPM) – JPMorgan sees signs of recovery in the Chinese economy, which could revitalize its business in the country after a slow period. Mary Erdoes, the bank’s CEO of asset and wealth management, noted that despite previous challenges, there is growing optimism, particularly since March.

Citigroup (NYSE:C) – US regulators rejected Citigroup’s recovery plan, known as a “living will,” which outlines procedures in case of bankruptcy. The decision, based on deficiencies in the bank’s data controls, raises doubts about Citi’s ability to reorganize without risks to the financial system. Additionally, Germany fined Citigroup around $13.94 million for failures in its trading system controls after a 2022 incident involving erroneous orders of $1.4 billion. The BaFin regulator criticized Citi for not preventing errors that could disrupt the financial market.

HSBC (NYSE:HSBC) – Danielle Johnson, formerly of Goldman Sachs, was appointed global head of institutional clients at HSBC, bringing over 20 years of experience in relationship management and equity sales in the US. She will strengthen HSBC’s client coverage, based in New York and reporting to global banking coverage directors.

NatWest Group Plc (NYSE:NWG) – J Sainsbury Plc, a London-based supermarket chain, agreed to transfer its banking business to NatWest for $159 million (£125 million), aiming to divest personal loans, credit cards, and deposits. This decision reflects the difficulty supermarkets face in effectively competing in the financial sector against traditional lenders.

BlackRock (NYSE:BLK) – Global Infrastructure Partners (GIP) announced that after being acquired by BlackRock for $12.5 billion, it will retain control of its operations. This comes amid criticism in Malaysia, a Muslim-majority country, against airport privatization due to alleged ties between BlackRock and Israel. Malaysia, which supports Palestine, protested GIP’s participation due to BlackRock’s investments in Israel, currently in conflict with Hamas. The $3.9 billion airport privatization has faced opposition similar to previous boycotts of Western brands.

Coinbase (NASDAQ:COIN) – Coinbase launched a $2 million campaign targeting Latino voters in the US, promoting cryptocurrencies for remittances, highlighting lower fees with USD Coin.

Target (NYSE:TGT) – Target is implementing the generative AI chatbot “Store Companion” in 400 stores to improve operational efficiency and integrate new employees. This growing trend in retail, where AI promises to transform operations from customer service to e-commerce optimization, aims to increase productivity and profitability.

McDonald’s (NYSE:MCD) – McDonald’s is set to launch a $5 meal in select US restaurants. The promotion, starting June 25, includes a McDouble or McChicken, fries, Chicken McNuggets, and a small drink. This initiative aims to attract low-income consumers amid rising inflation and competition in the fast-food sector.

Chipotle Mexican Grill (NYSE:CMG) – Chipotle Mexican Grill shares fell 6.1% on Thursday ahead of its stock split, despite recent strong financial performance with rising revenues and profits. The decline may be attributed to profit-taking by institutional investors after significant gains, while the company faces criticism over smaller portions and higher prices.

MGM Resorts International (NYSE:MGM) – MGM Resorts International will introduce online betting with live dealers at its Bellagio and MGM Grand resorts in Las Vegas, a first for Strip casinos. Local dealers will manage games like roulette and baccarat for online customers outside the US, under the “MGM Live” brand.

Boyd Gaming (NYSE:BYD), Penn Entertainment (NASDAQ:PENN) – Boyd Gaming approached Penn Entertainment for a possible acquisition, according to Reuters. Penn, known for its involvement in online gaming and sports betting, has made strategic partnerships, including renaming Barstool Sportsbook to ESPN Bet.

Nike (NYSE:NKE) – Sam Poser, an analyst at Williams Trading, cut Nike’s price target to $75, matching the lowest on Wall Street, citing company stagnation and a lack of attractive new products. He predicts a more than 20% drop in shares, criticizing current management and product strategy.

FedEx (NYSE:FDX) – FedEx shares have been volatile this year, initially gaining over 20% by March but have since moved to a 0.2% loss for the year. With concerns about profits and sales below expectations, the company focuses on cost-cutting and operational improvements to boost margins and returns to shareholders.

Smith & Wesson Brands (NASDAQ:SWBI) – In the fourth quarter, Smith & Wesson reported earnings per share of 45 cents, above the 34 cents expected by analysts. The company had revenue of $159.15 million, a 10% increase from the last quarter, and 1.50% better than the $156.80 million forecast. Despite outperforming estimates, shares fell 3.96% in pre-market trading.

Algoma Steel Group (NASDAQ:ASTL) – In the fourth quarter, Algoma Steel reported earnings per share of 7 cents, beating analysts’ expectations of a 1 cent per share loss. However, its revenue of $460.44 million was 19.92% below analysts’ estimate of $575.00 million. Shares are flat premarket.

Kroger (NYSE:KR) – In the first quarter, Kroger reported net income of $947 million, equivalent to $1.29 per share, adjusted to $1.43 per share, beating the FactSet expectation of $1.35. Sales reached $45.269 billion, surpassing the $44.867 billion consensus. Sales grew modestly, driven by lower pricing strategies and promotions. Kroger reaffirmed its annual forecasts despite outperforming in the first quarter, expecting 0.25% to 1.75% same-store sales growth, excluding fuel, and earnings per share between $4.30 and $4.50. FactSet consensus forecasts a 1.1% sales increase and $4.44 earnings per share.

Accenture (NYSE:ACN) – In the fiscal third quarter, Accenture PLC (NYSE: ACN) reported net income of $1.934 billion, or $3.04 per share, adjusted to $3.13, close to the FactSet consensus of $3.16. Total revenue was $16.467 billion, slightly below expectations of $16.548 billion. For the fiscal fourth quarter, the company projected revenue between $16.05 billion and $16.65 billion. For the full fiscal year, adjusted earnings per share are expected to be between $11.85 and $12.00.

Darden Restaurants (NYSE:DRI) – Darden Restaurants reported adjusted earnings per share of $2.65, exceeding expectations of $2.61, but its revenue of $2.96 billion was slightly below the forecast of $2.97 billion. Olive Garden faced a 1.5% sales decline, while LongHorn Steakhouse saw 4% growth. Fiscal 2025 projections include 1% to 2% sales growth, $9.40 to $9.60 earnings per share, and net sales between $11.8 billion and $11.9 billion, with 2% to 3% price increases and capital expenditures of $550 million to $600 million.
Minddoc7 Minddoc7 1 week ago
Holding several issues involved with the crypto movement I find a strong stomach is required. The intra day swings by COIN are proof of that. Just look at today's COIN graph. GLTA!
trainer2 trainer2 1 week ago
Coin is tied to damn closely to Bitcoin.
Minddoc7 Minddoc7 1 week ago
The Motley Fool article Jun 15,2024; 3 Reasons Coinbase Is a Star in the Making by RJ Fulton

1. Resilience during the crypto winter

2. Positioned in a rapidly growing industry

3. Diverse and innovative product offerings
👍️ 1
starman2 starman2 2 weeks ago
"Coinbase Global’s expected earnings growth rate for the current year is more than 100%. The Zacks Consensus Estimate for current-year earnings has improved 219.1% over the last 60 days. Coinbase currently sports a Zacks Rank #1"
starman2 starman2 2 weeks ago
Wrong link, sorry.

Right link...
Minddoc7 Minddoc7 2 weeks ago 6/13/2024 article: Coinbase's State of Crypto report: Here's what we learned

" The exchange’s research struck a bullish tone, and noted that ETFs based on Bitcoin’s spot price in the U.S. have mopped up “significant pent-up demand” by allowing investors to gain exposure to the world’s biggest cryptocurrency. Assets under management in these funds now stands at $63 billion, with Coinbase anticipating a healthy appetite for Ether ETFs should they be given the green light by the U.S. Securities and Exchange Commission.

Beyond this, it wasn’t the buoyant recovery in the crypto markets that was the focus of Coinbase’s report, but the high levels of enthusiasm for on-chain projects seen among some of America’s biggest businesses."

" The report also underlines how the tokenization of real-world assets has the potential to transform the global economy in the years to come. Here, top benefits and use cases that fascinate top execs include reduced transaction times, operational efficiencies, greater transparency, streamlined regulatory processes, and the ability to drag loyalty programs into the 21st century — enhancing engagement among target audiences. Coinbase cited figures that suggest the value of tokenized assets could hit $16 trillion by the start of the next decade. Illustrating how significant this is, the exchange pointed out that this is equivalent to the European Union’s GDP. "

" Returning to Coinbase and its report noted that on-chain government securities have emerged as an especially popular use case — with the value of tokenized U.S. Treasury products now hitting $1.29 billion, a 1,000% increase since the start of last year."
Investors3 Investors3 2 weeks ago
Introducing the Coinbase Advanced Trade Go SDK
TL;DR: The Advanced Trade Go SDK is a flexible sample application that allows customers to automate their crypto trading strategies on Coinbase Advanced. This SDK is built on top of Coinbase Advanced REST APIs and simplifies the development process, enabling traders and developers to integrate advanced crypto trading functionalities with ease.

By Jeff Curry Engineering, June 6, 2024

The State of Crypto: The Fortune 500 Moving Onchain
Tl;dr: America’s top public companies are busier onchain than ever. Onchain projects announced by Fortune 100 companies have increased 39% year-over-year and hit a record high in Q1 2024. A survey of Fortune 500 executives finds that 56% say their companies are working on onchain projects. From the biggest legacy brands to small business, stablecoins to tokenized T-bills, trusted names and products in finance are embracing blockchain technology and crypto, driving innovation and providing on-ramps for widespread adoption. The increased activity underscores the urgency for clear rules for crypto that help keep crypto developers and other talent in the US.

By Coinbase Company, June 12, 2024

SwC Manifesto: Making the UK a Leader in FinTech, Digital Assets & Tokenisation
TLDR: The next Government should promote the UK as a world leader in fintech, digital assets and tokenisation to generate investment, innovation and a more digital economy. This will drive productivity, growth and jobs across the UK economy, as well as improvements in the UK’s public services. To get involved with Stand With Crypto UK, visit: https://uk.standwithcrypto. org/

By Policy International, June 13, 2024
starman2 starman2 2 weeks ago
starman2 starman2 2 weeks ago
Minddoc7 Minddoc7 2 weeks ago
Zacks Equity Research article 6/11/2024; Is Coinbase Global ( COIN ) Stock Outpacing Its Finance Peers This Year?

"The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Coinbase Global, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for COIN's full-year earnings has moved 226.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, COIN has moved about 43.6% on a year-to-date basis. In comparison, Finance companies have returned an average of 3.3%. This means that Coinbase Global, Inc. is outperforming the sector as a whole this year."
👍️ 1
starman2 starman2 2 weeks ago
Nothing will stop crypto and Nothing will stop coinbase. There's no going back, it's that simple. $500+ by eoy.
Minddoc7 Minddoc7 2 weeks ago
Investor's Business Daily 6/10/2024 article: Looking Beyond Just Nvidia,Top Funds Bet On This Crypto Stock by Matthew Galgani

"Artificial intelligence powerhouse Nvidia (NVDA), which also pioneered the graphics processing units (GPUs) now used in cryptocurrency mining, dominated this month's list of new buys the best mutual funds. Coinbase Global (COIN), which provides a platform to invest in and use crypto, joins Nvidia stock on the list."
👍️ 1
Investors3 Investors3 3 weeks ago
Robinhood Acquires Bitstamp for $200 Million, Binance Reactivates Mastercard Purchases, and More Crypto News [Coinbase]
June 06 2024 - 3:37PM
IH Market News

Coinbase integrates network alerts in encrypted wallet with Notifi

The mobile wallet of Coinbase Global (NASDAQ:COIN) now offers automated alerts about network activities through the Notifi messaging service. The launch, in partnership with GMX, allows users on Arbitrum and Avalanche to receive notifications about imminent liquidations and governance changes. The integration uses the XMTP protocol, enabling secure communications between wallet users. This new functionality aims to enhance the user experience by providing relevant and timely information directly in the wallet.

Binance reactivates cryptocurrency purchases with Mastercard
Binance, the largest cryptocurrency exchange by volume, has announced the reactivation of Mastercard (NYSE:MA) for cryptocurrency purchases. According to a statement on the X platform, the functionality has been restored with a single purchase limit of up to 5,000 euros, about $5,440, and $20,000 for transactions in U.S. dollars. This return is part of a larger effort by Binance to meet stringent compliance standards, reinforcing trust among users and regulators. The company also plans to expand regulated payment options to further facilitate user transactions.

Robinhood acquires Bitstamp for $200 million to expand crypto operations
Robinhood Markets (NASDAQ:HOOD) has finalized the acquisition of Bitstamp, one of the world’s oldest cryptocurrency exchanges, for $200 million. This acquisition, expected to be completed in the first half of 2025, aims to expand Robinhood’s Bitcoin and cryptocurrency business, increasing its global reach and its ability to serve institutional and retail customers. Bitstamp, known for its resilience and reliability, will complement the services already offered by Robinhood, which sees in cryptography the potential to reorganize the financial system.

Bitdeer acquires Desiweminer in a $140 million transaction
Bitcoin miner Bitdeer (NASDAQ:BTDR) has purchased ASIC chip designer Desiweminer in an all-stock deal valued at $140 million. The transaction, announced on June 3, involves 20 million Class A ordinary shares of BTDR. The Desiweminer team will join Bitdeer’s ASIC design team in Singapore, with combined products ready for immediate launch. This move comes after a $150 million investment from Tether in Bitdeer. In response to the announcement, BTDR shares rose about 6.3%, to $7.45, in Thursday’s trading.

Core Scientific rejects acquisition offer from Coreweave
Core Scientific (NASDAQ:CORZ), a prominent cryptocurrency miner, has declined an acquisition proposal from Coreweave valued at $5.75 per share. The board stated that the offer undervalues the company, considering its recent deals and growth projections. This announcement comes after Core Scientific overcame a bankruptcy petition and demonstrated a robust financial recovery in the first quarter of 2024.

Ark’s Cathie Wood withdraws from Ether ETF due to intense fee war
Cathie Wood of Ark Investment has abandoned the launch of an Ethereum ETF in the U.S., citing the competitive fee war as a decisive factor. At the Consensus conference, Wood revealed that Ark’s spot Bitcoin ETF, with a fee of 0.21%, was not profitable. With Grayscale setting higher fees and losing market leadership, the industry faces a race to offer low fees. Analysts view Ark’s exit as a response to reduced margins and potentially lower demand for Ether ETFs compared to Bitcoin ETFs.

Bitcoin ETFs record record inflows of $1.4 billion in two days
On June 5, Bitcoin ETFs recorded inflows of $488.1 million, marking 17 consecutive days of inflows, a new record. In the past two days, inflows totaled an impressive $1.4 billion. The Fidelity ETF (AMEX:FBTC) led with $220.6 million, followed by the BlackRock ETF (NASDAQ:IBIT) with $155.4 million. The ARK ETFs (AMEX:ARKB) and the Bitwise ETF (AMEX:BITB) registered $71.4 million and $18.5 million, respectively. The Grayscale ETF (AMEX:GBTC) recorded inflows of $14.6 million, but still faces a total net outflow of $17.9 billion.

Bitcoin volatility increases with futures expiration and high projections for 2024
Bitcoin (COIN:BTCUSD) is fluctuating around $71,000 this Thursday, hitting an intraday high of $71,650.56 and trading at $70,956 at the time of writing. Among the top 10 cryptocurrencies, all are experiencing slight declines, except Ether (COIN:ETHUSD), which is up over 1%, and Toncoin (COIN:TONCOINUSD), which is up over 3%. The price of ETH is $3,831, while Toncoin is valued at $7.43.

However, with $2.2 billion in futures options expiring on June 7, Bitcoin could fall below the psychological mark of $70,000. Of these, $1.22 billion are Bitcoin futures options, indicating a “maximum pain point” of $69,500. This expiration may increase Bitcoin’s price volatility, creating a scenario of uncertainty.

Parallelly, Fernando Pereira, analyst at Bitget, highlighted with optimism the positive correlation between the performance of the S&P 500 and the price of Bitcoin. He predicts that “a 2.5% to 5% rise in the S&P 500 in the coming days could drive BTC up about 12%, reaching $80,000”. Additionally, Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered, also shares an optimistic view, predicting that Bitcoin could reach $100,000 before the U.S. presidential elections. Kendrick suggests that, should Trump win, the price could reach $150,000 by the end of the year, attributing this outlook to the political climate, recent regulatory decisions, and potential favorable economic data.

Franklin Templeton plans crypto fund for institutional investors
Franklin Templeton, a $1.6 trillion asset manager, is considering launching a private cryptocurrency fund, according to The Information. The fund, aimed at institutions, will focus on assets beyond bitcoin and ether, with the possibility of passing on staking rewards. The manager has previously taken initiatives in the digital asset sector, including a bitcoin ETF and a tokenized government bond fund.

Tim Draper recommends Bitcoin for treasury diversification after SVB collapse
Venture capitalist Tim Draper suggests that companies diversify their treasuries by including Bitcoin (COIN:BTCUSD) as protection against banking risks. This recommendation follows the collapse of Silicon Valley Bank (SVB) in March 2023, which severely impacted several startups, including cryptocurrency clients. Draper proposes that companies split their capitals between large banks, smaller banks, and Bitcoin to avoid similar challenges in the future. This method offers a safety net, allowing operations to continue even in financial crises.

High short positions in MicroStrategy signal potential volatility
Analyses of net short positions released by Fintel reveal that MicroStrategy (NASDAQ:MSTR) faces high exposure to short selling, representing 23.14% of its market capitalization, indicating strong bearish sentiment. In contrast, Coinbase (NASDAQ:COIN) and Marathon Digital (NASDAQ:MARA) show lower exposure, with 1.77% and 1.68%, respectively. These positions may reflect hedging strategies, especially in contexts where companies maintain long positions in Bitcoin (COIN:BTCUSD), as is the case with Kerrisdale Capital.

SushiSwap expands to Bitcoin’s Rootstock sidechain
The decentralized exchange SushiSwap (COIN:SUSHIUSD) now operates on Bitcoin’s Rootstock sidechain, seeking to integrate DeFi features into the BTC ecosystem. Rootstock, launched in 2018, is one of the first Ethereum Virtual Machine (EVM)-compatible sidechains dedicated to Bitcoin. Its goal is to combine the security of Bitcoin with the flexibility of Ethereum’s smart contracts. SushiSwap’s migration follows the trend of expanding DeFi on Bitcoin, initiated by the Ordinals protocol and other projects seeking to incorporate typical features of networks like Ethereum and BNB Chain into Bitcoin.

B2BinPay launches TRX staking and expands blockchain support
B2BinPay, a leader in blockchain payment solutions, has introduced staking of Tron (COIN:TRXUSD) and expanded its blockchain support in the latest update. Now, in addition to Polygon (COIN:MATICUSD) and Avalanche (COIN:AVAXUSD), the platform includes Optimism (COIN:OPUSD), Arbitrum (COIN:ARBUSD), and Base. The highlight of the version is TRX Staking with an annual yield of 3-5%, allowing users to save on transaction fees by converting staking into bandwidth and energy. These additions reinforce the versatility of B2BinPay, offering more options and efficiency to its customers.

Avalanche and Blockaid join forces to enhance security in blockchain wallets
Avalanche (COIN:AVAXUSD) has announced a partnership with Blockaid to integrate security features into its Core wallet. The initiative aims to combat phishing scams and other attacks, using Blockaid’s threat database to simulate and verify transactions before execution. This measure intends to provide an extra layer of security for Avalanche network users. Despite criticisms about the false positives generated by the system, Blockaid emphasizes that this is a small price to pay to effectively block fraudulent transactions, promoting greater security in the decentralized finance ecosystem.

Web3 developer loses $40,000 after exposing keys on GitHub
Brian Guan, co-founder of Unlonely, lost $40,000 after accidentally making public a GitHub repository containing his secret keys. The incident, disclosed in a post on X on June 5, highlights the security risks in managing digital assets. The cryptocurrency community reacted mixedly, with some offering support, while others criticized his previous views on using ChatGPT for programming. The event raises questions about security practices and developers’ responsibility to effectively protect their digital assets.

Taiko innovates with decentralized sequencing on Ethereum Layer 2
Taiko, an Ethereum Layer 2 project, has launched its mainnet with permissionless sequencing and proof, becoming the first rollup to offer such functionality. This allows anyone to participate in block sequencing and validation, promoting greater decentralization compared to other rollups that use centralized sequencers. Taiko’s co-founder and CEO, Daniel Wang, highlighted the commitment to decentralization and the security inherited from Ethereum’s base layer. With this, Taiko aims to enhance Ethereum’s scalability and efficiency, reducing central dependencies and increasing community participation.

The Sandbox announces $20 million funding for metaverse expansion
The Sandbox (COIN:SANDUSD), a subsidiary of Animoca Brands, has raised $20 million to expand its creative economy in the metaverse. Led by Kingsway Capital and with participation from investors such as LG Tech Ventures, the funds will be used to enhance tools like Game Maker and VoxEdit, and to introduce advanced social interactions. The company is also developing a mobile version, scheduled for 2025, reinforcing its commitment to making the metaverse accessible and inclusive to a global audience.

Roger Ver released on bail in Spain awaiting extradition
Bitcoin investor Roger Ver has been released on bail of $163,000 by a Spanish court while awaiting possible extradition to the U.S. Accused of fraud and tax evasion, Ver must remain in Spain and appear in court every two days.

JPMorgan evaluates regulatory trend against crypto and CBDC in the U.S.
According to a report by JPMorgan (NYSE:JPM), cryptocurrency regulations in the U.S. are taking a restrictive direction, especially against the launch of a central bank digital currency (CBDC) and the adoption of cryptocurrencies by local banks. The report highlights that non-compliant stablecoins, such as tether (COIN:USDTUSD), are also under increasing scrutiny. The Payment Stablecoins Clarity Act, which favors regulated stablecoins, has a better chance of approval before the presidential elections. Other initiatives, including the FIT21 Act and regulations that make it difficult for banks to custody crypto assets, face significant challenges to be implemented.
Minddoc7 Minddoc7 3 weeks ago
Still looking for that $300.00 pps level.
Minddoc7 Minddoc7 3 weeks ago
Of Interest...Last night, Coinbase executive and other crypto company personalities attended President Trump's San Francisco fund raiser and contribute $12 million to his campaign. Know where the politicians stand on crypto currencies.
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Minddoc7 Minddoc7 3 weeks ago
CoinDesk Article 6/6/2024: Coinbase Wallet Adds Crypto Trading Alerts From Notifi By Danny Nelson

" Users of Coinbase's mobile crypto wallet can now get automated alerts of what's happening on-chain via messaging service Notifi.

Perpetuals exchange GMX is the service's first client, according to a press release. Customers of the Arbitrum- and Avalanche-based platform will receive notifications about pending liquidations and governance updates, and can also design their own automated flags."
Minddoc7 Minddoc7 3 weeks ago
UNCHAINED 6/5/2024 article: Coinbase Launches its Smart Wallets, Dubbing It Crypto's 'IPhone Moment" by Sage D. Young

On Wednesday, crypto heavyweight Coinbase announced the rollout of its smart wallets, which it is calling web3’s “iPhone moment” to onboard more than a billion users onchain, said Luke Youngblood, founder of Base-native lending application Moonwell in an interview with Unchained.

Rather than using a traditional wallet typically in the form of an application or browser extension that is reliant on passwords, third-party installations, or seed phrases to recover one’s private key, users can use smart wallets which gain security from passkeys.

A traditional wallet depends on a private key to sign, while smart wallets use passkeys that often depend on biometric identification to sign transactions, such as facial recognition or a fingerprint. The rollout of smart wallets is a move expected to simplify the onboarding experience of new users who are not crypto native.

“Onchain app developers today lose many of their many new users during the onboarding process when they leave the app to go install and fund a separate wallet,” wrote Coinbase senior director of product management Sid Coelho-Prabhu in the announcement.

Smart wallets enable people without crypto wallets to get one quickly and jump into using an application. As part of the effort to bring more users onchain, Base is also supplying gas credits to help developers sponsor the transactions of their application’s users. Of the several ways to earn gas credits, one way a developer can get $15,000 worth of sponsored gas, according to Moonwell’s Youngblood, is putting a “Create Wallet” button on their application.

Alternatively, to gain $1,000 worth of sponsored gas a developer can release a demo of their Coinbase Smart wallet integration, according to information platform

“When the iPhone was launched into the 2000s and the 2010s, it took off. All of a sudden, anyone could use apps without having to buy a computer,” Youngblood added, “We feel really strongly this is going to cross the chasm from DeFi and onchain finance being this niche tool only usable by wealthy people in developed countries like ours to broad mainstream adoption.”
New Login Mechanism

Passkeys were developed by Apple, Google Microsoft, and the FIDO Alliance to act as a new method of logging in.

“Passkeys are generated on your device and are not shared or stored on any server, according to a Coinbase blog post.”The public key is stored securely on Coinbase servers, while the private key is securely stored on your device, protected by your device’s native authentication method, such as biometrics (e.g., Face ID or fingerprint) or a PIN.”

The announcement comes as a different Coinbase initiative is attracting substantial mindshare among those in the crypto ecosystem, namely, its layer 2 blockchain network Base, which has crossed 10 million total users in less than one year since launch and nearly 321,000 daily users on a seven-day rolling average as of Tuesday. Despite the rapid growth, Base’s total number of users is still a fraction of Coinbase’s 110 million.

Moonwell, the fourth largest protocol on Base with a total value locked of almost $95 million, is a day-one launch partner of Coinbase’s smart wallets, meaning users who already have smart wallets can interact with Moonwell onchain without paying gas fees on Wednesday.

Coinbase’s smart wallets is supported on a number of blockchain networks such as Base, Arbitrum, and Avalanche. While the base layer of Ethereum is also supported, it is “not preferred for use, due to gas cost,” according to a website dedicated to smart wallets.
Minddoc7 Minddoc7 3 weeks ago
COINTELEGRAPH 6/5/2024 article: Coinbase rolls out smart wallet with no gas fees and easy onboarding by Derek Andersen

Cryptocurrency exchange Coinbase is launching a smart wallet. The new Coinbase Wallet will offer users greater convenience through onboarding, eliminating gas fees and making recovery phrases unnecessary.

The smart wallet will allow users to create a new wallet and onboard onto a blockchain without downloading a new app or receiving a new recovery phrase. Instead, the smart wallet will integrate with major apps and use Face ID, users’ Google Chrome profile, fingerprint ID or Yubikey to onboard through a passkey that will be stored on users’ devices.

The smart wallet will have self-custody and permit payments from the user’s Coinbase Wallet or Coinbase account. Developers will be able to choose to waive gas fees by sponsoring the transaction through a paymaster.

A companion web app will be the user’s primary platform and will offer asset and identity management, buying, sending, swapping, nonfungible tokens and transaction history. Coinbase promises “a fluid and intuitive experience” throughout those transactions.

At the start, the smart wallet will support the Base, Ethereum, Optimism, Arbitrum, Polygon, Avalanche, BNB Chain and Zora networks. The smart wallet will be free for both users and developers. Coinbase said in a post on its Canadian blog:

“This simplicity, combined with multi-chain support and integration with major applications, will make onboarding to the blockchain as effortless as signing into your favorite website.”

Current users will be able to use the new wallet “in the coming months” after it finalizes all migration tools.
Minddoc7 Minddoc7 3 weeks ago
thank you.
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Investors3 Investors3 3 weeks ago
Station Labs Leadership to Join Coinbase to Make Smart Wallets the Default
Tl;dr: Coinbase is doubling down on smart wallets by bringing onboard the leadership of Station Labs, who have deep expertise in building onchain developer tools.
By Coinbase Company, June 4, 2024

Top talent is one of Coinbase’s core cultural tenets. We believe that having exceptional people in every seat is vital to achieving our mission of increasing economic freedom in the world by bringing the world onchain.

In pursuit of bringing in top onchain talent, today we’re excited to announce that the founders of Station Labs will be joining Coinbase to work on Base, the Smart Wallet, and our onchain developer product suite. As a team of deeply onchain-native builders, Station’s founders will leverage their unique expertise with complex concepts such as smart wallets and account abstraction to help accelerate and expand our onchain developer product suite.

One of the biggest barriers to growing onchain adoption is the complexity of onboarding for both consumers and developers. Station’s founders have extensive experience building tooling for developers and creators to integrate core onchain primitives such as wallets, token-based experiences, and abstracting away gas fees for consumers.

We’re thrilled to bring in the Station team at a critical and exciting time for our onchain product suite. As Base and the broader L2 ecosystem continue to grow, we’re committed to providing developers with easy-to-use tooling to lower the barriers for consumers with phraseless, gasless, onchain experiences. Station’s founders represent some of the brightest minds in the onchain tools space and we look forward to working with them to bring the next generation of builders onchain.
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Ringrock Ringrock 3 weeks ago
Coinbase smart wallet goes live June 5…
Minddoc7 Minddoc7 3 weeks ago
Decrypt Article by Andre Beganski 5/31/2024 Coinbase Accuses SEC of Purposeful Effort to Destroy Crypto

In its efforts to clarify new rules for the crypto industry, Coinbase on Friday accused the U.S. Securities and Exchange Commission (SEC) of trying to smother an emerging industry.

In a court filing, America’s leading crypto exchange described a “Catch-22” that U.S. crypto firms are confronted with. At the same time the SEC is calling on crypto firms to come into compliance with securities laws, the agency has allegedly refused to offer “needed” rulemaking.

Combined with “scorched-earth litigation” against companies that can’t satisfy the SEC’s requests, Coinbase accused the regulator of causing crypto firms intentional harm.
Minddoc7 Minddoc7 4 weeks ago
PYMNTS: Coinbase Diversifies Revenue Sources as Digital Asset Trading Matures

Digital assets have experienced a significant year, with the market moving toward mainstream adoption.

This shift has resulted in a decrease in price volatility, which had been a key attraction for many investors, Bloomberg reported Thursday (May 30).

As a result, the largest U.S. crypto exchange, Coinbase, has experienced a decline in consumer trading volume and a potential shake-up in its revenue sources, according to the report.

Volatility in the digital asset market has significantly decreased in recent times. According to researcher CCData, the average volatility for digital assets dropped to 57% this year, compared to around 79% in 2021, the report said.

This decrease in volatility is seen as a sign of market maturation, as it attracts fewer speculative traders, per the report.

Coinbase, like other exchanges, relies on trading-fee revenue generated from the trading volume of cryptocurrencies. However, the decline in volatility has resulted in lower trading volumes, impacting the revenue of exchanges, according to the report.

Coinbase’s consumer trading volume in the first quarter of this year was $56 billion, compared to a peak of $177 billion in the fourth quarter of 2021. The creation of spot Bitcoin exchange-traded funds (ETFs) and the overall market maturation have contributed to this decline in trading volume.

To mitigate the impact of decreased trading-fee revenue, exchanges like Coinbase have diversified their revenue sources, the report said. Coinbase generated about a third of its sales in the first quarter of this year from sources other than trading fees. These sources include revenue share on USDC stablecoin and revenue from its Base blockchain.

The company also serves as the custodian for most U.S. spot Bitcoin ETFs and is listed as a custodian for spot Ether ETFs that are expected to be okayed by regulators, per the report.

While Coinbase’s trading-fee revenue is expected to be lower than the peak of 2021, the company’s overall outlook remains positive, according to the report.

Net income is projected to increase 20 times this year compared to 2023. The sustainability of the current bull market and Coinbase’s ability to maintain spot market share will be crucial factors in determining its future revenue. Additionally, Coinbase’s diversification efforts and its role as a custodian for ETFs position the company for potential revenue growth in the long term.
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Minddoc7 Minddoc7 4 weeks ago
ZACKS Video 5/31/2024: Bull of the Day: Coinbase Global

Coinbase Global Overview

"Zacks Rank #1 (Strong Buy) stock Coinbase Global (COIN) is the third-largest crypto exchange globally and the leading crypto exchange in the United States in terms of trading volume. Coinbase, which was founded in 2012, has one of the broadest selections of cryptocurrency listings to trade. Clients can choose to trade some ~250 cryptocurrencies, three fiat currencies, and nearly 600 crypto trading pairs."

COIN Fundamentals are Strong

"Even if investors were to assume that the Ethereum ETF does not receive approval, COIN’s fundamental picture paints a pretty picture as total assets have soared in recent quarters."

Bottom Line

"Coinbase is benefitting dramatically from the approval of spot Bitcoin ETFs. However, the stock may just be getting started as a potential Ethereum ETF approval looms."
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BottomBounce BottomBounce 4 weeks ago
Physical Silver, precious metals to see second-highest deficit in 20 years, as record industrial demand rises 9% in 2024 - Silver Institute’s World Silver Survey $COIN
Minddoc7 Minddoc7 4 weeks ago
The Motley Fool: This Is a Huge Win for Coinbase By Travis Hoium – May 29, 2024 at 6:00AM

Very interesting video on COINBASE

Ethereum ETFs will be a long-term tailwind for crypto.

" Coinbase (COIN 3.09%) stock got another win last week when Ethereum (ETH -1.97%) ETFs were approved. Not only will we get another set of ETFs for Coinbase to be the custodian for, the company is also seeing cryptocurrency financial products become more mainstream. In this video, Travis Hoium covers why this is a bullish trend for Coinbase."
Minddoc7 Minddoc7 4 weeks ago
Article:Market Whales and their Recent Bets on Coin Options by Benzinga Insights, Benzinga Staff Writer May 28, 2024

- Delving into the details, we found 42% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $109,429, and 18 were calls, valued at $2,772,589.

Expert Opinions on Coinbase Glb

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $254.8.

An analyst from Canaccord Genuity has decided to maintain their Buy rating on Coinbase Glb, which currently sits at a price target of $280.
Consistent in their evaluation, an analyst from HC Wainwright & Co. keeps a Buy rating on Coinbase Glb with a target price of $300.
Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for Coinbase Glb, targeting a price of $250.
An analyst from Barclays persists with their Underweight rating on Coinbase Glb, maintaining a target price of $204.
An analyst from Keefe, Bruyette & Woods persists with their Market Perform rating on Coinbase Glb, maintaining a target price of $240.

I wonder if the recent increased Options interest is partially causing the wild daily pps swings in COIN.
Investors3 Investors3 1 month ago
Former Democratic Congressman Kendrick Meek to Join the Coinbase Global Advisory Council
Tl;dr: The Coinbase Global Advisory Council is thrilled to welcome a valuable new member who will be instrumental in navigating the complex and evolving crypto industry. This addition will enhance Coinbase's efforts to promote crypto at state, local, and community levels, while strengthening relationships with strategic stakeholders worldwide.

By Coinbase Policy, May 21, 2024
, 3min read time

Strengthening our Defenses with SEAL Wargame Simulations
TL;DR: We conducted a successful SEAL wargame with Base and Optimism (OP), testing our response to a simulated vulnerability in bridge withdrawals.

By Coinbase’s Protocol Security & Security Operations Teams Engineering, May 22, 2024
, 3min read time

Stand with Crypto expands in the UK
TL;DR: Stand with Crypto unites global crypto advocates, forming a passionate community committed to driving sensible crypto innovation and crypto policy. In the United States the movement has reached over 700,000 sign-ups and is continuing to grow. With the passing of FIT21 this week in the House of Representatives, momentum is stronger than ever. The United Kingdom, our largest international market, has over 6 million crypto holders. Now is the time to expand the Stand with Crypto initiative internationally and make these crypto advocates' voices heard. The UK movement begins now.

By Tom Duff Gordon International, May 24, 2024
Minddoc7 Minddoc7 1 month ago
NEWS BYTES by 5/23/2024 Fred Ehrsam Predicts Future Crypto Growth Driven by Demographic Shifts

In a recent social media post, Fred Ehrsam, co-founder of Coinbase and crypto investment firm Paradigm, predicts that the cryptocurrency market will continue to gain momentum due to the growing influence of younger generations. He points out that ownership of crypto assets is currently highest among the 18-45 age group, with a significant drop-off after the age of 65. Similarly, politicians and policymakers who support or oppose crypto holdings follow a similar demographic trend. Ehrsam believes that as these young supporters grow in wealth and political power, the demand for and acceptance of cryptocurrency will only increase, driving its continued growth and adoption.
starman2 starman2 1 month ago
$300 Imminent
Minddoc7 Minddoc7 1 month ago
Zacks Equity Research article 5/22/2024; Zacks Investment Ideas feature highlights: Coinbase, Robinhood, Reddit, GameStop andMicroStrategy

Cash Cow

"Seth Klarman is a legendary value investor, billionaire, and one of the highest-earning money managers in the world. In an interview last year, Klarman stated that he avoids crypto but sees value in Coinbase, saying, “Coinbase is sitting on $5 billion in cash, has less than that in debt, and is doing some smart things.” Well, now that number has grown to more than 7 billion. I bring this to your attention because not many people trading a stock like COIN probably understand how sound the company is fundamentally."

"COIN has beaten expectations for five straight quarters, and not only are they beating them, they are smashing them. Over the past five quarters the average EPS surprise is 364.63%!"
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Minddoc7 Minddoc7 1 month ago
The Block Article: Coinbase to launch gold and oil futures trading by RT Watson 5/21/2024

"U.S.-based cryptocurrency exchange Coinbase announced it will launch retail-sized futures contracts for oil and gold. The new product will launch as of June 3rd, Coinbase Derivatives said on Tuesday.
'While crypto derivatives remain at the core of our business, we're excited to announce the launch of new futures contracts for oil and gold,' the company said in a statement."
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Minddoc7 Minddoc7 1 month ago
A key crypto bill is set for a House vote tomorrow. The Financial Innovation and Technology for the 21st Century Act (FIT21)


Inside the bill that could shape the future of the U.S. crypto industry

Even though nearly 20% of Americans have purchased crypto, and many of the world’s most innovative crypto companies are based here, the United States lags far behind most developed economies when it comes to crypto regulation.

This week, however, Congress is finally poised to vote on a landmark piece of legislation that would create a comprehensive, federal regulatory regime for crypto in the U.S.

The Financial Innovation and Technology for the 21st Century Act (FIT21) has been hailed by cosponsor Rep. Patrick McHenry (R-N.C.) as the “culmination of years of bipartisan efforts to finally provide clarity.” And in a recent town hall meeting, Rep. Ritchie Torres (D-N.Y.) praised the bill for offering “regulatory clarity where none exists. It protects both consumers and investors.”

Among many other things, the bill would clarify questions around which agencies have the responsibility to regulate various aspects of the crypto industry, create consumer protections for the 52 million Americans who own crypto, and give web3 developers looking to launch projects in the U.S. clear rules of the road.

In advance of the vote, which is expected to take place on Wednesday, here’s what you need to know.

Why is FIT21 important?

Given the U.S. is home to both Wall Street and Silicon Valley, it’s unsurprising that it’s grown into a global crypto hub. But the chaotic regulatory picture here — especially as compared to regions including the U.K., the EU, and some parts of Asia that have made significant strides in providing clarity — means crypto companies and innovators are increasingly looking outside the U.S.

An estimated 2% of web3 developers have been leaving the U.S. annually due to potential risks around basing a digital asset project here, and around 4 million blockchain-related jobs are at risk over the next 5-to-7 years.

Coinbase supports FIT21, saying the bill “offers a strong regulatory framework providing clear definitions, consumer protections, and a path for regulation that does not stifle innovation.”

Here are some of FIT21’s major provisions:

FIT21 would clarify which agency has regulatory jurisdiction over different parts of the crypto ecosystem.

Currently, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) both claim jurisdiction to regulate the crypto industry, and the fractured landscape makes it difficult for crypto companies to operate amid limited and confusing guidance and heavy-handed enforcement actions.

FIT21 would clarify that the CFTC has jurisdiction over digital commodities, while the SEC’s jurisdiction would be focused on digital assets offered as part of an investment contract.

How would crypto commodities and securities be defined?

In very basic terms, it comes down to decentralization. As a16z crypto’s FIT21 explainer puts it, the CFTC would regulate a digital asset as a commodity “if the blockchain, or digital ledger, on which it runs is functional and decentralized.” (Disclosure: a16z is a Coinbase investor.)

The SEC would regulate a digital asset as a security “if its associated blockchain is functional but not decentralized.”

The bill also provides a definition for decentralization, including the requirement that no individual can control the blockchain and that “no issuer or affiliated person” controls more than 20% of the project’s digital assets or voting power.

The bill would also create new consumer protections for crypto users.

The legislation helps protect consumers by requiring increased transparency and accountability from the crypto industry.

Digital-asset institutions like crypto exchanges would be required to segregate customer funds from their own, provide appropriate disclosures to customers, and reduce potential conflicts of interest through registration and operational requirements.

The bill would also require digital asset developers to provide accurate information about their project’s operations, ownership, and structure. It also requires lock-up periods for tokens issued to insiders.

Who supports this bill?

FIT21 passed out of two committees last July with bipartisan support, and is now advancing to a full House vote with supporters on both sides of the aisle.

Rep. McHenry, who chairs the House Financial Services Committee, has made passing FIT21 a top priority for 2024 during his final term in Congress before retiring. Meanwhile, a letter from eight House Democrats this week said that the bill would “promote a secure, innovative, and inclusive financial future.”

Can FIT21 pass in the House of Representatives?

Yes, it’s definitely possible. This past Thursday, another crypto-related bill (which would overturn a controversial SEC rule that makes it harder for banks to handle crypto customers) garnered support from 12 Democrats and 48 Republicans in the U.S. Senate, which has some observers hopeful that similar levels of bipartisan support are possible for FIT21.

“There’s still some big names on the Democratic side who haven’t made their thoughts known,” said Rep. Wiley Nickel (D-N.C.). “The advice I’m giving Democrats is, we cannot hand this issue to Republicans.”

What could happen next?

If FIT21 passes in the House, that alone represents a huge step forward. The bill’s next stop would be the Senate, which could approach the legislation in a variety of ways. Aside from a straightforward vote, one possible approach comes from Rep. French Hill (R-Ark.), who is in line to succeed Rep. McHenry as chair of the Financial Services Committee. Hill has suggested tying FIT21 to one of Congress’s larger spending bills before the end of the year.

The bottom line…

There aren’t many issues more important to the future of the U.S. crypto industry than regulatory clarity — and FIT21 would make major strides in that direction.
Minddoc7 Minddoc7 1 month ago
Beautiful intra day reversal. Lets see how COIN closes. GLTA!
boo boo boo boo 1 month ago
She's a custodian with fiduciary responsibility. "She owns" presents a problem because it becomes a "conflict of interest" with regard to fiduciary responsibility.
Minddoc7 Minddoc7 1 month ago
Article: Meta, Match, Coinbase and others team up to fight online fraud and crypto scams by Sarah Perez 5/21/2024

"Hosting scams on your platform is bad for business, which is why on Tuesday, a group of major tech companies including Match Group, Meta, Coinbase and others are jointly launching a new coalition to take on online fraud across dating apps, social media and crypto.

The new coalition, Tech Against Scams, will work together to find ways to fight back against the tools used by scammers and to better educate the public against financial scams."
Minddoc7 Minddoc7 1 month ago
Article Investors Business Daily by Harrison Miller 5/17/2024

" Cryptocurrency prices jumped Friday as bitcoin surged back near $67,000. Institutional investors poured hundreds of millions of dollars into spot bitcoin ETFs this past week. That could propel bitcoin toward its record highs as early as next week, one analyst said. Meanwhile, COIN stock surged after Coinbase received an upgrade and major price target hike from BofA."

" BofA on Friday upgraded Coinbase (COIN) to neutral from underperform, The Fly reported. The current macroeconomic environment has been positive for crypto market cap gains and trading volume growth, the firm wrote. Meanwhile, Coinbase has shown expense discipline and benefited from greater operating leverage after large cost cuts in 2022. BofA expects the greater operating leverage to help maintain profitability. Coinbase's increase in revenue distribution should also dampen earnings volatility, the firm added. BofA hiked its price target to 217 from 110 — a level that Coinbase had run past in November.

COIN stock jumped 4.2% Friday on the upgrade. Shares are trading below their 10-week moving averages after steadily falling from the two-year high of 283.48 in late March. Still, Coinbase stock rallied about 19.4% so far this year."
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Minddoc7 Minddoc7 1 month ago
Decrypt Article: Ethereum ETF Approval Coming Sooner Rather Than Later, Says Coinbase by Mat DiSalvo

" In a note this week, America’s biggest cryptocurrency exchange said that “while there is uncertainty around a timely approval given the SEC’s apparent silence with issuers, it’s only a matter of time before such a product hits the market.

There’s a long list of top asset managers—including VanEck, BlackRock, and Franklin Templeton—who have filed paperwork with the Securities and Exchange Commission to release an Ethereum ETF."
BottomBounce BottomBounce 1 month ago
Precious Metals on WATCH. There is a Deep Worldwide Shortage in Silver Bullion physical #silver $COIN
lilLu lilLu 1 month ago
She deserves a mention since she owns more coin than anyone on the board. DD Sir.
lilLu lilLu 1 month ago
Aaaalrighty thennnn.
Investors3 Investors3 1 month ago
Coinbase to Participate in the J.P. Morgan Global Technology, Media and Communications Conference
May 15 2024 - 4:05PM
Business Wire

Coinbase Global, Inc. announced today that Emilie Choi, President and Chief Operating Officer, and Alesia Haas, Chief Financial Officer, will participate in a fireside chat at the J.P. Morgan Global Technology, Media and Communications Conference on Tuesday, May 21, 2024, at 11:25 a.m. PT / 2:25 p.m. ET.

A live webcast and replay of the virtual session will be available on Coinbase’s Investor Relations website at

Disclosure Information

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boo boo boo boo 1 month ago
She might be strong minded, which could be a bad thing when investing other people's $$.

I'm not impressed with any of their funds performance:

ARK FUNDS > Click on Performance. Since Inception column.

Not sure why you want to talk her up on the COIN thread either.
boo boo boo boo 1 month ago
It's three fold now.

How do you know Cathie Woods is more successful than me?


That Cathie Woods is more successful than 99% of men on the planet?


That Cathie Woods has 10 digits in her bank account?

I can this with 100% certainty. NO ONE OWNS ME!

Go Woke Go Broke.

DEI is bullshit.

COIN is taking a nice hit.
lilLu lilLu 1 month ago
How do I know what? Why ARK dominated last bullrun? Why ARK bottomed? Or why she's more successful than 99% of men on the planet?...
Well, 👇
1. ARK highs. Her investments include highly speculative assets like A.I., Blockchain, Pharmas, etc. All bullruns induce a self imposed confidence on deep pockets and deep pockets invest in tomorrow. As all good traders should. Just like us here in COIN.
2. ARK bottomed because everything did. The higher the risk of any specific asset during a bear market, the more it bleeds. This is a no brainer and comes with experience.
3. Neither you nor me nor anyone on ihub is friends with someone who has 10 digits in their bank account. If you hang out with Billionaires or are one, you're not on ihub. Everyone on this platform will wholeheartedly agree.
Anymore questions then ask your financial advisor.
4. Never underestimate the power of a strong minded woman. SHE WILL OWN YOU!
boo boo boo boo 1 month ago
And how do you know this?
DarkPool DarkPool 1 month ago
Another outage over 2 hours. These dudes are so incompetent. Might have to go short soon. Masses are moving to other exchanges.
lilLu lilLu 1 month ago
There's a reason why ARK dominated all the etf's amidst the height of last bullrun. There's also a reason why they've bottomed out. Your point is mute. Speculative = speculative and as far as i can tell, shes more successful than you and me combined. Next...
Buy To Hold!
Investors3 Investors3 2 months ago
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