Coinbase, Tron feel the heat as SEC cranks up the pressure
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Coinbase Wells Notice: Oppenheimer cuts; Mizuho says a third of revenue could be affected
March 23, 2023 8:02 AM EDTShares of Coinbase Global (NASDAQ: COIN) are down about 11.5% in pre-market Thursday after the cryptocurrency exchange disclosed it received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) related to its staking services.
This type of notification is usually sent by regulators to inform companies that certain infractions have been discovered. It is usually a precursor to the SEC ultimately suing the company.
SEC staff made a preliminary determination to recommend that the SEC file an enforcement action against the Company alleging violations of the federal securities laws, including the Securities... More
Citi Defending Coinbase Global Inc. (COIN), 'we continue to be positive on Coinbase's position and strategy', Keeps Buy and $80 PT
March 23, 2023 8:00 AM EDTCiti analyst Peter Christiansen reiterated a Buy rating and $80.00 price target on Coinbase Global Inc. (NASDAQ: COIN).
The analyst comments "To the broad extent that the SECs Wells Notice appears to cover (an undefined portion of Coinbases listed digital assets, its staking service Coinbase Earn,... More
