ALDO: CoinDesk's Consensus Magazine presents its latest special feature, highlighting 19 notable blockchain, cryptocurrency, and Web3 projects to keep an eye on in 2023.
Since its start in February 2020, the force's criminal asset confiscation command has seized more than $600 million in illegal gains.
Based on an independent investigation, Binance's security team found two people who may have been behind the theft of $265,000 worth of virtual currency on KyberSwap.
Considering this, we have revised our price estimate for COIN stock from around $300 per share to about $240 per share. However, we still remain bullish on Coinbase, with our price estimate standing at about 35% over the current market price.
Coinbase is the leading US cryptocurrency exchange. Notably, it has been under pressure this year as cryptocurrency prices collapse. Historically, Coinbase has had a close correlation with cryptocurrencies. The stock is trading at its lowest level on record. The decline happened as investors focused on the collapse of FTX and Alameda Research.
Coinbase (NASDAQ:COIN) was a big beneficiary of the crypto boom, with revenues in Q1 rising over 9x year-over-year to about $1.8 billion, as users flocked to its platform to cash in on soaring cryptocurrency prices. However, cryptocurrencies now appear to be in a bear market.
Similarly, Coinbase was one of the first companies to provide an easy, safe, and intuitive way for retail customers to buy bitcoin and other cryptocurrencies, and will continue to do so, in our opinion. Our bear case scenario assumes Coinbase will continue to grow as an exchange but does not attribute any value to future products or services.
2023 LNY Giveaway: Fund your Tiger Brokers 'account between 18th -31st Jan with ANY amount to win the lucky draw chance.
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