Weil sich die Kryptobörse in New York nicht ordentlich registriert hat, wird die Handelsplattform nun mit einem Betriebsverbot für den Bundesstaat belegt.
Coinbase may be losing retail crypto traders to Robinhood: Mizuho
- Mizuho analyst says Coinbase may be losing share in retail crypto trading.
- Dan Dolev continues to see downside in the crypto exchange to $27 a share.
- Coinbase stock is currently down 35% versus its year-to-date high in March.
Coinbase Global Inc remains at the risk of having its stock price cut in half, says Dan Dolev. He’s a Senior Analyst at Mizuho.
Coinbase stock could crash to $27
Dolev maintained his “underperform” rating on the crypto exchange today. His $27 price objective suggests shares could tank an alarming 50% from here.
The analyst is super bearish on Coinbase stock partially because he suspects that it’s losing share in retail trading to peer Robinhood Markets Inc.
Our analysis suggests that COIN’s share of combined COIN retail + Hood crypto volumes trended lower in April vs. the approx. 65% ratio in the prior three quarters.
Part of it may be related to the lawsuit the U.S. Securities and Exchange Commission filed against the crypto company last week.
Coinbase has increased trading fees
Dan Dolev also cited trading fees as a possible reason why Coinbase Global Inc is losing to Robinhood.
The crypto exchange has resorted to higher fees for small-ticket traders to offset volume declines which may have pushed them to Robinhood as it has refrained from increasing fees so far, the Mizuho analyst told clients in a research note today.
If we assume that COIN maintained share and retail take rate held constant at 168bps in April … this would imply $117 million of retail transactions for April.
In comparison, the company recently reported a lower $110 million of total transaction revenue in April. Coinbase stock is currently down 35% versus its year-to-date high.
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Bitcoin (BTC) fängt sich nach dreimonatigem Tief in Seitwärtsbewegung
Ein Krypto-Experte meint, dass die jüngsten Ankündigungen von US-Zentralbankchef Powell nur „viel Lärm um nichts“ waren.
Europäische Union (EU) verabschiedet KI-Gesetz
Das neue KI-Gesetz der EU hat erfolgreich das Parlament durchlaufen und geht als nächstes in die Einzelverhandlungen über.
Coinbase partners with Bitkey Wallet to promote Bitcoin self-custody
- Coinbase’s partnership with Bitkey, Block’s self-custody bitcoin wallet, will span six continents.
- The platforms will integrate Coinbase Pay to allow users buy/sell or transfer Bitcoin to their Bitkey self-custody wallet.
- Coinbase said the collaboration will allow customers to easily buy, store and manage their BTC.
Coinbase and Bitkey, the self-custody Bitcoin (BTC) wallet built by the Block, Inc., have announced a global partnership that will see the two companies promote self-custody usage.
The partnership, which will span six continents, will see Bitkey users buy and sell BTC on Coinbase, as well as transfer their holdings to their self-custody Bitkey wallets. The wallet includes a mobile app, hardware device and set of recovery tools, the companies said in a blog announcement on Thursday.
According to the announcement, Coinbase and Bitkey will leverage Coinbase Pay to allow customers easy access to fiat-to-crypto onramps, the US-based crypto exchange noted in the blog post. It is a key component to powering the next adoption phase of the Bitcoin economy.
“At Bitkey, we’re building a self-custody bitcoin wallet designed to empower the next 100 million people to truly own and manage their Bitcoin – safely and easily,” Lindsey Grossman, Business Lead at Bitkey said.
“Partners play a key role in bringing self-custody to a wider group of people around the world, and we are incredibly proud to have partnered with leading companies like Coinbase to make self-custody both secure and easy to use.”
Bitkey launches global beta program
The collaboration between Coinbase and Bitkey is kicking off as the self-custody wallet launches its global beta program.
Customers in the beta program will be able to transfer their Bitcoin from centralized exchanges to Bitkey’s self-custody wallet. Buying and selling as well as direct transfers between Coinbase and Bitkey will be enabled when the wallet launches to the public later this year.
As noted above, Bitkey and Coinbase will offer the service to customers in six continents. Some of the countries include the US, Canada, the UK, Brazil, and Australia.
The post Coinbase partners with Bitkey Wallet to promote Bitcoin self-custody appeared first on CoinJournal.