Coinbase Shares Sink 9% on Report CME to Consider Listing Spot Bitcoin
The stock was the second worst performing among crypto stocks on Thursday.
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The stock was the second worst performing among crypto stocks on Thursday.
Coinbase is expected to report strong revenue numbers, given an uptick in crypto trading volume towards the end of 2023.
Analyst Own Lau noted higher trading volume, the recent approval of the spot bitcoin ETFs, and a potential win in the company’s lawsuit against the SEC as the main drivers for the upgrade.
A “flash crash” in thin trading Sunday evening, saw bitcoin’s price plunge nearly 10% from the $44,000 level in the space of a few minutes.