The COIN stock price dropped to $224.35 a share in late May, coinciding with a cryptocurrency market sell-off, and then continued to follow the price trend, climbing to its peak of $368.90 in November when bitcoin ( BTC) climbed to its all-time high. Coinbase stock follows crypto markets lowerĬoinbase went public on the Nasdaq Stock Exchange in April 2021 and initially traded above the early indicated price range at around $100, closing at $342 in the first session. the projected loss of $2.40 per share expected by analysts at Refinitiv.ĭespite the plummeting revenue, however, user numbers exceeded analysts’ expectations.Īs of 6 January, the stock has plunged by more than 85% since the same date a year ago, mirroring a disastrous 12 months for cryptocurrency.Ĭan the stock claw back its value, and what is the latest Coinbase stock forecast? Here we take a look at what factors shape the crypto exchange’s share price forecasts in the current market environment. The loss of earnings stood at $2.43 per share, adjusted, vs. Q3 transaction revenue fell to $366m, down 44% compared to Q2, driven by lower trading volume. However, it is alleged that Coinbase plans to participate in the FTX bankruptcy proceedings to seek a claim on those deposits.Ĭoinbase’s third-quarter results were also underwhelming, as the industry is braced for intensifying “macro headwinds”. We have no exposure to Alameda Research, and we have no loans to FTX.” In a blog post, Coinbase stated: “Currently we have $15m worth of deposits on FTX to facilitate business operations and client trades. FTX, formerly the world’s third-largest cryptocurrency exchange by volume, recently filed for bankruptcy, highlighting the liquidity struggles the industry faces. The fine and the resulting price drop come soon after the collapse of FTX sent shockwaves through the markets. The exchange will also have to spend a further $50m on improving its compliance, and will have to work with a third-party monitor. As a result of the news, the price of COIN shares fell from $37.70 at close of trading on 4 January to $34.71 when markets opened the following day. It said: “We took NYDFS’s concerns seriously and have taken substantial measures to address these historical shortcomings.” That failure exposed the Coinbase platform to potential criminal activity.”Ĭoinbase acknowledged the fine and, in a blog post, said that the investigation was based on the company’s compliance programme in 2018-2019, as well as the compliance backlogs that built up as the exchange grew in 2021. NYDFS superintendent Adrienne Harris said: “Coinbase failed to build and maintain a functional compliance program that could keep pace with its growth. The exchange was given the penalty by the New York Department of Financial Services (NYDFS) on 4 January after the regulator found that Coinbase treated its onboarding requirements for customers as a “simple check-the-box” and had not carried out sufficient background checks. The share price of US-based cryptocurrency exchange Coinbase ( COIN) has dropped after the company was fined $50 by regulators in the United States. Will COIN survive the crypto winter? – Photo: Iryna Budanova/Shutterstock

Possible coinbase coins