Coinbase Stock (COIN) in Focus as Stablecoin Rewards Face Senate Scrutiny
I'm PortAI, I can summarize articles.
Coinbase Global (COIN) is closely monitoring a significant crypto bill under Senate review that may impose limits on rewards for stablecoin holdings, which are crucial to its business model. The company may withdraw support for the bill if strict regulations are included. Lawmakers are divided, with banks favoring restrictions to protect traditional deposits, while crypto firms like Coinbase argue it would hinder competition. Stablecoin rewards are a vital revenue source for Coinbase, projected to reach $1.3 billion by 2025. Wall Street rates COIN stock as a Moderate Buy with a target price of $361.63, suggesting a 50.19% upside.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: Tip Ranks The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments