The FASB's recent accounting rule revisions are poised to provide a more favorable outlook for companies holding digital assets, helping them mitigate the unfavorable optics generated by impairment losses, as stated in the report.
Coinbase is actively exploring opportunities within regions where regulatory frameworks for the cryptocurrency industry are well-defined. In the near future, its primary focus will be on the EU, U.K., Canada, Brazil, Singapore, and Australia.
In response to a sharp drop in trading volumes that have hit a four-year low, crypto exchanges have launched promotions to bolster their revenue streams.
The analyst said that the company earned higher interest income, which is temporary due to the declining USD Coin’s ( USDC-USD) market cap. Moreover, higher staking revenue and alt-coin transaction revenue are also at risk due to the SEC’s crackdown. Dolev rates COIN stock a Sell, while his price target of $27 implies 45.1% downside potential.
If you did not invest in COIN stock IPO and are wondering if it might be a worthwhile investment, read on. Now, analyst Lisa Ellis is calling the stock a “must-own” for investors who have multi-year investment horizons. In detail, she derived her price target by applying a 20 times forward multiple to Coinbase’s projected 2023 revenues.
Shares of COIN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
In response, Coinbase stock surged 7.6%. On June 16, Canaccord Genuity started the stock with a buy rating and a 285 price target. On Sept. 7, Coinbase disclosed it received a Wells notice from the SEC last week.
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