Coinbase CEO Celebrates New Pro-Crypto Governors in Virginia and New Jersey
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Benzinga
- Pro-Crypto Victory: Coinbase CEO Brian Armstrong celebrated the election of Abigail Spanberger and Mikie Sherrill as governors, framing it as a milestone moment for pro-crypto politicians, highlighting the growing influence of cryptocurrency in politics.
- Spanberger's Mixed Stance: As Virginia's first female governor, Spanberger has a complex record on crypto policy, supporting the FIT21 bill while opposing the CBDC Anti-Surveillance State Act, indicating a cautious approach to cryptocurrency regulation.
- Sherrill's Legislative Support: New Jersey's first female Democrat governor, Sherrill, also backed the FIT21 bill and voted for the CLARITY Act, which aims to establish a clear regulatory framework for cryptocurrency markets, promoting industry growth.
- Coinbase's Legislative Engagement: Despite withdrawing support for the cryptocurrency market structure bill just before the vote, Armstrong noted that the White House has been constructive in advancing crypto policies, indicating potential for collaboration with the government.
Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for COIN is 361.63 USD with a low forecast of 230.00 USD and a high forecast of 440.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 241.150
Low
230.00
Averages
361.63
High
440.00
Current: 241.150
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the cryptoeconomy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
