Citron Advises Investors to Short Coinbase (COIN) Stock
The prominent researcher, however, remains optimistic about Bitcoin.
Coinbase is one of the veteran cryptocurrency exchanges. It was founded in June 2012 and since then allows its users to transact between FIAT and digital currencies. The company is based in San Francisco, USA.
Coinbase was established by Fred Ehrsam and Brian Armstrong, who’s also the current CEO. It has grown substantially since its launch, and it is currently the leading regulated US-based cryptocurrency exchange.
Apart from providing a platform for individuals, Coinbase also offers a solution for institutional investors. It’s called Coinbase Prime. The Prime platform offers more robust and complex trading tools, geared toward larger investors.
Besides, the company launched in 2018 a custody service, which provides its clients with an institutional-grade offline storage solution. It is also regulated by the New York Department of Financial Services (NYDFS) and operates as an independently capitalized entity.
It’s safe to say that Coinbase is working towards the establishment of an entire ecosystem where traders can purchase, store, and sell cryptocurrencies in a secure and regulated manner.
The prominent researcher, however, remains optimistic about Bitcoin.
Coinbase had trouble dealing with high volume of traffic on its platform, after Bitcoin's price briefly reached nearly $64,000.
The market capitalization of the involved digital currency exploded to an all-time high of over $1 billion.
The market capitalization of the involved cryptocurrency briefly surpassed the $350 million mark.
Coinbase has announced its support for Grayscale in the process of converting its Ethereum trust into a spot Ethereum ETF.
Institutional crypto activity is ramping up with Coinbase’s international exchange and several spot Bitcoin exchange-traded funds seeing surges in daily
Coinbase's Bitcoin reserves hit lowewst point in years amid whale activity.
Their quarterly report was positive for the first time in 2 years.
Circle’s policy rep says the company has seen evidence that Tether is contributing to terrorist financing.
Coinbase (COIN) is up 37% since JPMorgan downgraded the stock last month.