![]() ![]() Coinbase reported earlier this year first-quarter revenue that was up 22% from the prior quarter. That said, the analyst noted that leading asset managers recently have entered into surveillance sharing agreements with Coinbase in their BTC ETF applications, which could bolster the stock. The SEC has alleged that Coinbase engaged in the unregistered offer and sale of securities, while Coinbase denies that it has listed crypto asset securities. The latest opinion, which could have broad implications for crypto legislation and litigation, now further complicates the Securities and Exchange Commission's litigation with Coinbase. Ripple Labs, which Vafi had pointed to as a positive for Coinbase, as it had ruled that a cryptocurrency may or may not be a security depending on who's buying it. The opinion contradicts another ruling in SEC v. A Manhattan federal judge said in an opinion Monday that cryptocurrencies are considered securities regardless of how they are sold. Coinbase has faced its fair share of legal issues recently. "While Coinbase remains a crypto lightning rod in many respects, we cannot but see the company gaining material momentum across a variety of different fronts," Canaccord analyst Joseph Vafi said in a Monday note. The firm maintained its buy rating on Coinbase and hiked its forecast on the stock to $140 per share from $70, suggesting a nearly 42% upside from Monday's closing price. Personal Loans for 670 Credit Score or LowerĬanaccord Genuity sees a stronger future for Coinbase, doubling its price target on the stock even as the crypto industry navigates legal troubles. Personal Loans for 580 Credit Score or Lower ![]() Best Debt Consolidation Loans for Bad Credit ![]()
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