Why is coinbase stock going down

why is coinbase stock going down

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Coinbase CEO Brian Armstrong on SEC ETF decision: We'll see new pools of capital come into bitcoin
Coinbase stock, as well as Marathon Digital and Riot Platforms, went up in anticipation of a big move for Bitcoin, only to crash back down. Early Tuesday, COIN stock tumbled more than 3% after JPMorgan downgraded the stock from neutral to underweight, with an 80 price target. Shares. The crypto downturn throughout dealt a huge blow to Coinbase (NASDAQ: COIN) and its fortunes. Last year, revenue declined 59%.
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Coinbase's transaction fee varies, with a max of 0. A Coinbase spokesperson told CNBC in an emailed statement that, in addition to custody fees, the company will make money by providing services such as agency trading, matching and settlement, and financing to ETF issuers. In the weeks ahead, Coinbase will help shepherd some of the biggest names in asset management, including BlackRock , Franklin Templeton, and WisdomTree, into the digital asset ecosystem as their custodial partner of choice.