Coinbase Global Inc (COIN) Quote

Thank you for that posting.

Coinbase article on Investors business daily
HARRISON MILLER 08:00 AM ET 04/26/2024

It's been a historic year for bitcoin, and Coinbase Global (COIN) has been a key player in it. As a result, Coinbase stock has leapt nearly 25% thus far this year.

Cryptocurrency prices and related stocks are running hot after the launch of spot bitcoin exchange traded funds in January. That sparked renewed interest in digital assets and propelled bitcoin to a record high in mid-March.

Some of that rally appears to have cooled in the wake of bitcoin's recent halving event, which cut the amount of rewards doled out to cryptocurrency miners by 50%. Still, analysts are bullish on the near-term prospects for Coinbase, with first-quarter results due next week.

How The Halving Event Affected Bitcoin

Bitcoin is trading around $63,000, about 14% below its all-time high of $73,798 from March 14. But it's still up 50% in 2024. Its price is essentially flat after bitcoin's fourth halving event, held April 19,

The halving events occur after every 210,000 bitcoins are mined. The idea is to help control the rate at which new bitcoins are created, which takes roughly four years. The total supply is capped at a maximum of 21 million bitcoins.

During the last three halvings, bitcoin averaged a 3,108% price increase in the 12 months following the event, Cathie Wood's ARK Invest (ARKK) noted in a recent email to investors.

After the April 19 event, bitcoin's supply growth fell to an annual rate of about 0.9% from 1.8%. That's below the supply growth of gold on a long-term basis, which was estimated at a 1.7% clip in 2023, according to ARK Invest.

A Divergence Of Opinion

However, analysts are conflicted about the impact this halving will have on bitcoin's price. Some predict the supply shock will propel bitcoin higher. Others believe the market has already priced in this year's halving.

And where bitcoin goes, other cryptos tend to follow. Bitcoin's market cap of $1.26 trillion represents half of the total global cryptocurrency market cap. Its performance can heavily influence other cryptocurrencies and related stocks.

Bitcoin is vital to exchanges like Coinbase as it represented 34% of its total trading volume in fiscal 2023 and 35% of transaction revenue.

Goldman Sachs recently cautioned that current macroeconomic conditions and the high-interest-rate environment are different from previous halving cycles, one report said.

Bitcoin's price in the midterm will depend on supply-demand dynamics and continued demand for spot bitcoin ETFs, Goldman said.

Coinbase Stock: Its Role As Custodian

Coinbase has a central role to play as custodian for the majority of the spot bitcoin ETFs.

Custodial banks in traditional finance settle trades and manage regulatory reporting, dividends and other shareholder services. Custodians keep and manage client assets, such as stocks, which is why stock traders rarely see any of the actual shares they purchase.

Cryptocurrency custodians fulfill a similar role. But there are some key differences that make the process more complex, such as technological, security and storage requirements specific to bitcoin and other digital assets.

Custodians typically charge a fee for assets under custody, or AUC, similar to the traditional finance world. The AUC charges are usually some basis-point charges on the assets that they're contracted to custody.

Who Coinbase Serves

Coinbase is serving as the custodian for eight of the new bitcoin exchange traded fund entrants, including the BlackRock iShares Bitcoin Trust (IBIT), the ARK 21Shares Bitcoin ETF (ARKB) and the Bitwise Bitcoin ETF (BITB).

It also is custodian for the Valkyrie Bitcoin Fund (BRRR) as well as the Grayscale Bitcoin ETF (GBTC), which converted its bitcoin trust to a spot bitcoin ETF. Also, the VanEck Bitcoin Trust ETF (HODL) named Coinbase as its backup custodian in its prospectus.

"We've always said that ETFs would be a win-win for Coinbase, and we're starting to see that play out on our platform," Coinbase Chief Executive Brian Armstrong said on the company's fourth-quarter earnings call in February. He noted that Coinbase custody accounted for 90% of the $36 billion in bitcoin ETF assets at the time.

"We're earning revenue, not just on custody but also on trading and financing. We've already seen great demand as bitcoin is now the second-largest ETF commodity in the U.S., surpassing silver," Armstrong went on to say.

Meanwhile, spot bitcoin ETF assets under management have ballooned to around $53 billion as of April 24, according to data from The Block.

Coinbase recorded $19.7 million in custodial fee revenue for its fourth-quarter ending in December, prior to the ETF launches. FactSet analysts predict the company's custodial fee revenue will increase to $31 million in the first quarter and grow to $52 million in the fourth quarter this year.

Coinbase Earnings Turn Positive

Even though bitcoin's recent drivers haven't shown up in results yet, Coinbase has steadily reported improving financials.

With its fourth-quarter results, Coinbase reported diluted earnings of $1.04 per share, turning positive for the first time since the fourth quarter of 2021. Losses had narrowed during the three quarters leading up to the Q4 report.

Total revenue spiked 51% to $953.8 million, marking the exchange's second consecutive increase after six straight quarters of double-digit declines.

Consumer transaction revenue leapt nearly 60% year over year to $492.5 million and improved from $274.5 million during the third quarter. Institutional transaction revenue increased 173% to $36.7 million, also climbing from $14.1 million last quarter.

Total subscription and services revenue climbed nearly 33% to $375.4 million.

Outlook For Coinbase Stock

Meanwhile, all signs are pointing to a strong first quarter for Coinbase.

Transaction revenue is already accelerating. Coinbase recorded $320 million in transaction revenue through Feb. 13, which is about halfway through the quarter, Chief Financial Officer Alesia Haas said during the February earnings call. The company generated a total of $374.7 million during the first quarter of 2023.

Coinbase predicted subscription and services revenue will range from $410 million to $480 million, compared with $361.7 million for the year-ago period.

Analysts polled by FactSet predict Coinbase will report earnings of $1.05 per share, swinging from a loss of 34 cents per share the year prior. They see revenue jumping 71% to $1.32 billion.

Price-Target Hikes For Coinbase Stock

A number of firms hiked their price targets on Coinbase stock this month, generally based on the booming crypto adoption and heightened activity after the spot bitcoin ETF approvals.

Oppenheimer predicts Coinbase's first-quarter trading volume could increase as much as 107% year over year to $300 billion, one report said. The brokerage is cautious about some near-term volatility but is bullish on long-term blockchain technology adoption, from which Coinbase should benefit.

Oppenheimer hoisted its price target on Coinbase stock to 276 from 200 and maintained an outperform rating on shares.

In its note to clients, Piper Sandler agreed that the new bitcoin ETFs seemed to help drive retail traders back into the market. That should fuel strong first-quarter results for U.S. crypto exchanges and brokers, a report said. Piper Sandler lifted its price target on Coinbase to 245 from 225 but kept a neutral rating on the stock.

Compass Point said in a note that it expects Coinbase to report revenue and adjusted earnings "considerably" above estimates, a report said. That's based on significant volume growth in March and during the first quarter. Compass Point raised its price target by $90 to 325 and maintained a buy rating on Coinbase stock.

Long-Term Challenges

Meanwhile, Mizuho expects Coinbase could top first-quarter revenue estimates by 40%, it was recently reported. Mizuho based that on an influx of retail investors and strong spot cryptocurrency volumes. The firm recently lifted its price target on Coinbase stock to 145 from 84. It maintained an underperform rating on the shares.

Long-term fundamental concerns remain, such as pressure on retail fee rates, Mizuho said. There's also a heavy reliance on lower-quality and cyclical revenue streams like altcoins, staking and interest income, the brokerage said.

Meanwhile, another report said Bernstein has hiked its Coinbase price target to 200 from 80. The brokerage kept a market perform rating on the stock.

"It is simply hard not to be bullish on Coinbase in the very near-term given the high beta to crypto asset prices, especially bitcoin," Bernstein wrote in a note. The firm warned that it believes Coinbase is a "net loser" in the medium term due to ETF approvals potentially pulling some business from Coinbase.

But Coinbase CEO Armstrong is more optimistic about the impact spot bitcoin ETFs have on crypto markets as a whole.

"We want fees to come down and make it lower friction for people to get into crypto through all kinds of different vehicles. ETFs are a massive way to get more capital to come in," Armstrong said during the company's February earnings call. "We're seeing elevated engagement and net inflows on both retail and institutional Q1 to date. So in my view, the ETFs are just a totally positive thing."

Coinbase Stock After The Halving

COIN stock has retreated about 23% from its March 25 peak of 283.48. That marked its highest level since December 2021.

Shares attempted a rebound above their 50-day line on Tuesday but that failed to develop. Coinbase climbed about 3% during the week after falling 14% last week prior to the halving.

COIN stock has a 97 Composite Rating out of a best-possible 99. The Composite Rating combines various technical indicators into one score.

The stock's relative strength line has fallen from its late-March highs but Coinbase is still outperforming the broader market with a perfect 99 Relative Strength Rating.

https://www.investors.com/research/the-new-america/coinbase-coin-stock-spot-bitcoin-etfs-crypto-interest/?src=A00220

Earnings will blow it out
of the water 🤑

Zacks Equity Research 4/25/2024: Zacks Ranks COIN #1 ( STRONG BUY )

" The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 45.37% higher. Currently, Coinbase Global, Inc. is carrying a Zacks Rank of #1 (Strong Buy)."


https://finance.yahoo.com/news/coinbase-global-inc-coin-stock-214518173.html

Article by Gamza Khanzadaev: Dogecoin ( DOGE ) Listing on Coinbase ( COIN ) likely.

" The long-awaited listing of futures for the popular meme cryptocurrency Dogecoin (DOGE) on leading U.S. exchange Coinbase appears increasingly likely, as mysterious transfers totaling nearly 557 million DOGE, equivalent to $68.7 million, were detected earlier today by Whale Alert. The transfers, originating from previously inactive wallets "DFBx6" and "DCTpB," signal potential developments in the near future."

Read more on U.Today https://u.today/dogecoin-doge-listing-on-coinbase-might-be-imminent-as-these-mysterious-transfers-hint

Your efforts are appreciated, but ' nickypicky ' isn't interested in the facts which why I have him on IGNORE!

https://help.coinbase.com/en/coinbase/other-topics/legal-policies/how-is-coinbase-insured

Mr.Google knows all.

How crypto helps Americans keep their share of the pie

Tldr: Frustration over fees and delays are the top reasons why nearly 9 in 10 Americans want an updated financial system. People and businesses lose tens of billions of dollars in transaction fees and countless hours in delays to the current system that they wouldn’t with crypto. Just in time for the NBA Finals, a new Coinbase ad campaign uses pizza to explain how crypto is helping to update the system so it’s cheaper and faster.

By Coinbase Company, April 24, 2024, 3 min read time

https://www.coinbase.com/blog/how-crypto-helps-americans-keep-their-share-of-the-pie?__cf_chl_rt_tk=BgrCBxaQ92nBwh1jsvLRxXtvf4a5tCqO23o7MoTUgi8-1714070797-0.0.1.1-1727

Thx for replying. Where do you see the insurance? Will is future.

Coinbase is FDIC insured. The fiat value of your Coinbase wallet will be insured up to $250,000 in the same way that a traditional bank insures your deposits.

Yes, Barron's had an article today by Paul LaMonica discussing Fund ownership of Coinbase and the reasons why.

I didn't write the article just posted it. Quoting it:
"We bring all this up because six months after our first correct prediction that China's spike in FX outflows would send bitcoin surging, it's time to do it again."

the flight of capital from China is mainly due to China restricting capital outflows to maximum of $50,000./year. bitcoin movement is mostly these ETF bitcoin and pension funds and mutual funds having it as .005% of their portfolio like gold. or commodity. they don't know the risk of it. it could all disappear if gov't crackdown. like China ban crypto.

bitcoin is traded like 'currencies' speculation and type of trading. and viewed by institutions as an legit 'asset' like currency, oil contracts, or any 'commodity asset hence the trading volume. look at the hundreds of bitcoin etf and so many of the bitcoin mining companies? I still don't get this bitcoin thing where you pay millions to in bitcoin farming and using industrial computers to 'mine' bitcoin.

It's not individuals who boosting values of crypto coins, the main catalyst is the institutions like pension funds, blackstones, and the hundreds of ETF in every exchange who own it and making the 3% management fees and 10% flow commission to the bitcoin exchanges. why SEC even waste time saying to approve, in some exhanges 10% of the daily volume is now bitcoin etf, there is even bitcoin futures.

"China's Capital Flight Could Fuel Bitcoin’s Next Rally"

https://oilprice.com/Finance/the-Markets/Chinas-Capital-Flight-Could-Fuel-Bitcoins-Next-Rally.html

Today's Article: " Coinbase’s earnings will “blow out estimates.”

" Researcher for crypto research company Messari, Kunal Goel, explained that over the last three quarters, his Coinbase revenue estimates “have handily beaten consensus analyst estimates.”

“I estimate Coinbase will generate a whopping $1.5 billion in net revenue for Q1 2024 growing by 65% for the quarter. My estimate is much higher than consensus estimate of $1.2 billion for gross revenue,” he explained in a recent X post. "

https://cointelegraph.com/news/crypto-exchange-coinbase-wall-street-traders-earnings-report

Today's article by Soumya Eswaran " Should You Hold Coinbase Global ( COIN )?

" Patient Capital Opportunity Equity Strategy stated the following regarding Coinbase Global, Inc. (NASDAQ:COIN) in its first quarter 2024 investor letter:

'This quarter we benefited from our exposure in the cryptocurrency space. The approval of 11 new spot Bitcoin ETFs dramatically opened Bitcoin to new investors for the first time. Investors’ interest was material, with assets under management growing to $55B over a single quarter. Coinbase Global, Inc. (NASDAQ:COIN) was a beneficiary of these events as we believe it is building the foundation of the crypto-ecosystem. We continue to believe COIN has the potential to be the platform for crypto as it has continued to widen its moat by investing throughout the most recent crypto winter.' "

https://finance.yahoo.com/news/hold-coinbase-global-coin-065338674.html

From today's Article by Jose Lanz on Decrypy

Further revenues from trading to be expected.

"The price surge comes after Coinbase International, the global branch of the largest U.S. crypto exchange, announced the listing of PEPE perpetual contracts. This move is significant as it adds liquidity and increases the asset's exposure."

"The opening of Coinbase's 1000PEPE-PERP market was originally planned for April 18, but was delayed for technical reasons. Trading will now begin on Tuesday, April 23.

And of course, such an event was met with enthusiasm—and memes—all over Crypto Twitter. Coinbase also announced perpetual futures around Dogwifhat (WIF), a leading Solana meme coin, with trading set to begin on April 25."

https://decrypt.co/227538/ethereum-meme-coin-pepe-surges-16-percent-coinbase-futures

IMO, it looks like they're blocking any run and holding down the pps prior to earnings report next Thursday. Time will tell if I am correct. GLTA!

bought some today

The Motley Fool Article by Jon Quast – Apr 22, 2024 at 4:37AM
Key Points:
- Coinbase generates revenue from a stablecoin, and adoption levels for this coin have been rising during the last four months.
- Transactions on the company's platform are also surging, which could contribute to a blowout quarter next month.
https://www.fool.com/investing/2024/04/22/heres-the-good-news-for-coinbase-stock-that-nobody/

BTC goes to Sun

Halving is ready ! Start the New High Up to the $ 85000 Level 1 !!!

Coinbase Announces Date of First Quarter 2024 Financial Results
April 18 2024 - 4:05PM
Business Wire

Coinbase Global, Inc. (the “Company” or “Coinbase”) announced today that it will publish its first quarter 2024 shareholder letter, including financial results, on its Investor Relations website at investor.coinbase.com on Thursday, May 2, 2024, after market close. The Company will hold a question and answer session to discuss its financial results at 2:30 p.m. PT that same day.

Starting on April 25 at 9:00 a.m. PT, all shareholders will be able to submit and upvote questions for Coinbase management by visiting here. This Q&A platform will remain open until 24 hours before the earnings call. Shareholders can email support@saytechnologies.com for any support inquiries.

To register for the webcast, please use this link. A live webcast of the call will be available on the Investor Relations website at investor.coinbase.com. Following the call, a replay of the call, as well as a transcript, will be available on the same website.

Disclosure Information

Coinbase uses the investor.coinbase.com and blog.coinbase.com websites, as well as press releases, public conference calls, public webcasts, our X feed (@coinbase), our Facebook page, our LinkedIn page, our YouTube channel, and Brian Armstrong’s X feed (@brian_armstrong) as means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD.

About Coinbase

Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase (NASDAQ: COIN) is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.



View source version on businesswire.com: https://www.businesswire.com/news/home/20240418898747/en/

Press:
press@coinbase.com

Investor Relations:
investor@coinbase.com

https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/93682346/coinbase-announces-date-of-first-quarter-2024-fina

Article: Crypto analyst Will Clemente believes Coinbase is “the biggest kind of venture style bet in public markets” since Tesla.
https://cointelegraph.com/news/coinbase-coin-stock-price-plummets-undervalued-base-ethereum-layer-2-blockchain

Article: Coinbase's SMART WALLET will DISRUPT the Financial Sector
https://www.thestreet.com/crypto/innovation/coinbases-smart-wallet-will-disrupt-the-financial-sector

"Don't be sore, buy some more" Old saying before you youngsters got in.

nickypicky = IGNORE

Why do they hide from a main headquarters and a land line? At least Enron had a headquarters.

They do not have a headquarters or main phone number or need it. Wow.

What's the name of their accounting firm? I can't find that either.

Running To The Sun !!!

Low is End - High Score is beginning !

Missed today's cellar, but was able to add at $210.00. GLTA!

Last Chance !To The Hype !!!

Your needle seems to be stuck. Time to try another vinyl.
BTW, I'll be adding again at this level.
GLTA!

Why do people feel comfortable putting their money here?

Liberals lose silly

Why is this crashing? I just started looking at it.

Coinbase Derivatives has successfully launched Bitcoin Cash and Litecoin futures contracts as it gears up to launch Dogecoin futures later this month
Tl;dr

* Coinbase Derivatives has become the first CFTC-regulated exchange to offer margined Bitcoin
Cash and Litecoin futures contracts, which launched earlier this month and are performing well.
* Bitcoin Cash and Litecoin contracts launched on April 1, with Dogecoin futures launching later this
month.
* These contracts will be available for trading via our broker and FCM partners.

By Boris Ilyevsky Company, April 11, 2024, 3 min read time

https://www.coinbase.com/blog/coinbase-derivatives-has-successfully-launched-bitcoin-cash-and-litecoin?__cf_chl_rt_tk=Log6RqCy17taMQrOKd3JsLODjxDh4IVyNVuVUxVEvVI-1713211066-0.0.1.1-1791

And now I see on the bottom of their press release that the investor relations contact has no name or firm mentioned just investor@coinbase...More and more red flags here....wow

Thx Marble.....I gave it to her.... let's see what happens.

Coinbase is notorious for high fees, where do they make their money, thanks for the milk out the nose laugh this morning.

https://thestrategystory.com/2022/05/28/how-does-coinbase-make-money-business-model/

Share this with your friend

1 888-908-7930

This number is Coinbase Customer Service. You will speak to a real person and the few times I spoke to them they were extremely polite and helpful.

You can google the phone number to ensure I'm not trying to scam you by trusting a stranger on ihub.

Ok I read some but don't understand why they don't have a real human being to talk to with 3000 employees working from home? No corporate offices? My friend is stuck locked out of her account with 10 Bitcoin for 3 months and only ai email responses that don't help. Why would anyone put money here?

How interesting. You're new on this board yet post with a skeptical attitude although, based on your last message, know nothing about the company. I am highly suspect of your motives for being here, buy in case I am mistaken, why not do some research starting with this link. Good reading!
https://finance.yahoo.com/news/2-reasons-buy-coinbase-stock-204100343.html

Where does this company get their revenue from? Do they charge a commission to buy crypto?

I'm wondering why anyone would put their money in an account with them with no one to actually talk to? Anyone have an answer for safety or insurance?

My friend can't get into her account and no human to talk to. Why put money with them?