Coinbase shares are up 35% since the SEC sued the crypto exchange for allegedly selling unregistered securities
But Coinbase stock has bounced back, rising some 35% after dropping to a low of about $50 on the day that the SEC sued the U.S.’s largest crypto exchange. As of Wednesday morning, shares were trading near $70, and the publicly traded company’s market capitalization has risen to about $16.5 billion.
The resurgence of Coinbase mirrors the broader boomerang of the crypto market in June, riding a Wall Streetfueled fever for Bitcoin that has lifted other cryptocurrencies and injected optimism into an industry that was reeling from a battery of enforcement from the federal government.
The Coinbase stock has been rallying, the price of Bitcoin has been rallying, and then these two things usually play off of each other. Specifically, Bitcoin’s resurgence is tied to BlackRock’s recent filing of an application for Bitcoin spot exchange-traded fund, a surprising vote of confidence from the US.’s largest asset manager in the world’s largest cryptocurrency by market capitalization.
Shortly after BlackRock’s application became public, the price of Bitcoin soared, notching its highest price in more than a year as a slew of other asset managers filed applications for Bitcoin spot ETFs, potentially opening up the cryptocurrency to trillions in dollars from brokerage accounts and pension funds.
And where Bitcoin goes, so goes the broader market, as the total market capitalization of all cryptocurrencies jumped from just about $1 trillion to now about $1.17 trillion.
BlackRock’s ETF filing was not only a vote of confidence in Bitcoin but also Coinbase. Its application listed the publicly traded crypto exchange as the custodian for holding the trust’s underlying Bitcoin.
For them to continue and list Coinbase as a custodian for their ETF was a strong signal that these SEC allegations are not that big of a deal
I think the market is telling us…the worst is behind us, as far as U.S. regulatory crackdown is concerned
But Coinbase stock has bounced back, rising some 35% after dropping to a low of about $50 on the day that the SEC sued the U.S.’s largest crypto exchange. As of Wednesday morning, shares were trading near $70, and the publicly traded company’s market capitalization has risen to about $16.5 billion.
The resurgence of Coinbase mirrors the broader boomerang of the crypto market in June, riding a Wall Streetfueled fever for Bitcoin that has lifted other cryptocurrencies and injected optimism into an industry that was reeling from a battery of enforcement from the federal government.
The Coinbase stock has been rallying, the price of Bitcoin has been rallying, and then these two things usually play off of each other. Specifically, Bitcoin’s resurgence is tied to BlackRock’s recent filing of an application for Bitcoin spot exchange-traded fund, a surprising vote of confidence from the US.’s largest asset manager in the world’s largest cryptocurrency by market capitalization.
Shortly after BlackRock’s application became public, the price of Bitcoin soared, notching its highest price in more than a year as a slew of other asset managers filed applications for Bitcoin spot ETFs, potentially opening up the cryptocurrency to trillions in dollars from brokerage accounts and pension funds.
And where Bitcoin goes, so goes the broader market, as the total market capitalization of all cryptocurrencies jumped from just about $1 trillion to now about $1.17 trillion.
BlackRock’s ETF filing was not only a vote of confidence in Bitcoin but also Coinbase. Its application listed the publicly traded crypto exchange as the custodian for holding the trust’s underlying Bitcoin.
For them to continue and list Coinbase as a custodian for their ETF was a strong signal that these SEC allegations are not that big of a deal
I think the market is telling us…the worst is behind us, as far as U.S. regulatory crackdown is concerned
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Cathie Wood’s ARK dumps 237K Coinbase shares at $140 per stock
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we are 100% up since this analysis too
2024 will be such a crazy year
2024 will be such a crazy year
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Ark Invest sold an additional 180,422 shares of Coinbase worth approximately $24.3 million on Wednesday; it also sold 99,595 shares of GBTC worth $3.5 million. Ark has sold $59 million worth of Coinbase stock from its funds this week. Last week it sold $15 million worth of Coinbase stock
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Crypto exchange Coinbase benefitted from a market rebound during the fourth quarter, seeing its revenues rise 41% quarter over quarter to $954 million.
Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume.
Trading volumes totalled $154 billion in Q4, including $125 billion in institutional volume.
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300% up since our first free signal
300% up since our first free signal
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Coinbase surpassed PayPal in market value today for the first time ever
Coinbase: $64 billion
PayPal: $63.8 billion
Coinbase: $64 billion
PayPal: $63.8 billion
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The United States Court of Appeals for the Second Circuit ruled in favor of Coinbase, confirming that secondary sales of cryptocurrencies on its platform do not violate the Securities Exchange Act.
Q2 earnings show improvements in cost control, with a reduction in operating expenses driven by reduced headcount, G&A, and technology and development expenses.Coinbase will have increased custodial fee revenue from its surveillance sharing agreements with the 7 pending Bitcoin ETF applications, if approved.