Coinbase Director Sells Shares, Analysts Weigh In on Stock
Director Kathryn Haun of Coinbase Global, Inc. (NASDAQ:COIN) sold 1,758 shares, totaling $368,142.78. The company’s stock opened at $205.77 on Friday, with a market cap of $49.85 billion. In its quarterly earnings, Coinbase Global reported $1.04 EPS, surpassing estimates. Analysts have adjusted their price targets and ratings for COIN, with various brokerages offering different perspectives on the stock.
Coinbase Shares Surge as Bitcoin Rally Continues
Coinbase Global, Inc. (COIN) shares are trading higher on Monday as several crypto-related stocks move up, propelled by the rise in the price of Bitcoin. In the past month, Coinbase shares have surged by 48% as Bitcoin’s recent rally continues. This surge comes in the wake of the approval of several spot Bitcoin ETFs in January, as institutions make substantial purchases and the acceptance of the cryptocurrency grows.
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Pixels Announces 20 Million PIXEL Token Airdrop for Ronin Network Users
Pixels announces a 20 million PIXEL token airdrop for Ronin network users who have staked RON tokens, aiming to reward the platform’s loyal community. The airdrop will be executed in two phases, with a total of 20 million PIXEL tokens to be distributed among stakers. Despite challenges with user retention post-airdrop, initiatives like the PIXEL token airdrop are crucial in nurturing a loyal and engaged user base within the blockchain gaming space.
Senator Elizabeth Warren’s Win in Battle with Cryptocurrency Industry
Senator Elizabeth Warren secures a win as former Rep. Sean Patrick Maloney pledges to cease involvement in crypto matters if confirmed as President Joe Biden’s ambassador to the OECD. Maloney’s commitment to resign from private-sector advisory work and recuse himself from crypto decision-making has garnered Warren’s support for his confirmation, pending Senate consideration. This development reflects Warren’s influence on administration personnel and her efforts to address the intersection of Washington and corporate America, particularly in relation to the crypto industry.
NBA Faces Lawsuit Over Cryptocurrency Exchange Promotion
The NBA is facing a lawsuit from investors over its ties with the now-defunct cryptocurrency exchange Voyager Digital Holdings Inc., resulting in $4.2 billion in financial damages. The partnership involving Voyager and Mark Cuban has come under scrutiny, with accusations of negligence being leveled against the NBA. The legal action follows a previous lawsuit against Cuban for his endorsement of what is now considered a fraudulent venture. The outcome of the lawsuit against the NBA and its implications for future promotional activities with cryptocurrency entities will be closely watched by investors and industry observers alike.
Ark Invest Makes Significant Changes to ETF Holdings
Ark Invest, led by Cathie Wood, is making significant changes to its ETF holdings, selling off shares of Coinbase and reinvesting in other stocks. The move comes as Coinbase’s stock has seen a remarkable surge in value, prompting Ark to…
Coinbase awaits approval for bitcoin ETF
Coinbase, a popular cryptocurrency exchange, is currently awaiting approval for a bitcoin exchange-traded fund (ETF), which could have a significant impact on its valuation. The valuation of Coinbase, a leading platform for buying, selling, and storing various cryptocurrencies, is closely…