Coinbase’s shares dropped 3.1% on Tuesday following the downgrade, which marks JPMorgan’s first sell-equivalent rating on the stock since initiating coverage in May 2021.
(Bloomberg) The biggest US cryptocurrency exchange could fall victim to a slump in Bitcoin and waning enthusiasm for exchange-traded funds that invest directly in the digital token, according to JPMorgan Chase & Co.Most Read from BloombergChina Weighs Stock Market Rescue Package Backed by $278 BillionIndia Tops Hong Kong as World’s Fourth-Largest Stock MarketAn Isolated Israel Doubles Down on War in Gaza — At All CostsNetflix Pays $5 Billion for ‘Raw’ in Bet on Live EventsHong Kong Stocks at
Waning Bitcoin ETF Hype Set to Drag on Coinbase, JPMorgan Says bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.