Bitcoin seeing a bid, up 2.4%

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Go back to Bitcoin seeing a bid, up 2.4%

Mizuho questions whether Coinbase interest income may be the 'next shoe to drop'

December 9, 2022 12:03 PM EST

Mizuho Securities analyst Dan Dolev downgraded Coinbase (NASDAQ: COIN) to Underperform from Neutral, lowering the firm's price target on the stock to $30 per share from $42.

Dolev said in a note to investors that interest income could be the "next shoe to drop".

"Interest income from Circle's USD Coin (USDC) has been increasingly important for COIN amid deteriorating crypto sentiment and trading... More

Mizuho Securities Downgrades Coinbase Global Inc. (COIN) to Underperform, 'Is Interest Income the Next Shoe To Drop?'

December 9, 2022 4:14 AM EST

Mizuho Securities analyst Dan Dolev downgraded Coinbase Global Inc. (NASDAQ: COIN) from Neutral to Underperform with a price target of $30.00 (from $42.00).

The analyst comments "Downgrading COIN to Underperform from Neutral. Interest income from Circle's USD Coin (USDC) has been increasingly important for COIN amid... More