Coinbase Joins TrumpAccounts Initiative to Boost Financial Literacy
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Benzinga
- Support for Trump Initiative: Coinbase CEO Brian Armstrong announced the company's participation in the TrumpAccounts initiative, pledging to match a $1,000 contribution for eligible employee children, emphasizing the importance of early investments in financial security and literacy for kids.
- Wealth Growth Potential: Under the TrumpAccounts program, American babies born between 2025 and 2028 will receive a $1,000 government contribution, which will be automatically invested in U.S. companies, expected to grow in value over time, aiding in wealth building for children.
- Tax Challenges: While the government's initial contribution and charitable donations are secure, parental contributions currently lack a crucial exemption from federal gift tax laws, which may affect parents' willingness to invest and the long-term growth of the accounts.
- Stock Price Dynamics: Coinbase shares fell 0.66% to $209.43 during Wednesday's regular trading session and dropped another 0.29% in after-hours trading, indicating a weak price trend in the short term and reflecting market caution regarding its future performance.
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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: 210.830
Low
230.00
Averages
361.63
High
440.00
Current: 210.830
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.
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