Crypto Exchange Coinbase (COIN) Launches Super App
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The 'Base App,' as it is being called, replaces the Coinbase Wallet and combines wallet, trading, and payment functions as well as social media, messaging, and support for mini-apps. Coinbase says the new app runs on the company's public blockchain network called 'Base,' which is built on the Ethereum (ETH) ledger.
The crypto exchange is the first U.S.-based company to launch what are known as super apps. Popular versions of super apps, such as Alipay, already exist in China. Typically, these everything apps bundle several different services and functionalities into a single mobile app. They have long been viewed as the ultimate goal of financial technology companies and mega-cap tech concerns.
Reaching Consumers
Meta Platforms (META) has attempted to integrate payments, messaging, and social content into a single app, and Elon Musk has mused about creating a super app for social media platform X. However, Coinbase Global appears to be the first U.S. company to launch such an app for consumer use.
In a news release, Coinbase said that it is aiming to reach consumers who aren't necessarily interested in trading cryptocurrencies, which remains the company's core business. The new super app arrives as the crypto industry embraces a boom in product launches thanks to the pro-crypto policies of U.S. President Donald Trump, who is himself invested in digital assets. COIN stock is up 64% this year.
Is COIN Stock a Buy?
The stock of Coinbase Global has a consensus Moderate Buy rating among 25 Wall Street analysts. That rating is based on 13 Buy, 11 Hold, and one Sell recommendations issued in the last three months. The average COIN price target of $319.01 implies 21.62% downside from current levels.
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24 minutes ago
- Yahoo
Brazil's Top Court Defies Trump, Signals No Retreat on Bolsonaro
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Just after Trump threatened 50% tariffs on Brazil on July 9, this group advocated for the court to issue a statement challenging the US president's assertion of a 'Witch Hunt,' according to two people with knowledge of how the events unfolded. In the end, Chief Justice Luis Roberto Barroso agreed in a call with President Luiz Inacio Lula da Silva that the first response should come from the political sphere, a third person said, all of them asking not be named discussing private deliberations. Lula then made the point, in a statement that evening, that Brazil is 'a sovereign country with independent institutions.' The reaction was calibrated to underline the division between the executive and the judiciary in Brazil, and how the US demands had overstepped that mark. Yet it also shows a shared determination to fight back rather than give in to his demands that the Bolsonaro case be dropped. 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No Tax On Tips Explained
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Analyst updates S&P 500 forecast in mid-year outlook originally appeared on TheStreet. There weren't many beating the bullish drum on the stock market in early April. The S&P 500 and tech-laden Nasdaq Composite were mired in a brutal downturn following harsher-than-hoped tariff announcements and growing economic concerns on jobs and inflation. The S&P 500 retreated 19% from its mid-February highs before finding its footing on April 9. That near-bear market had everyone a bit antsy, particularly given President Donald Trump's mounting trade war. Nevertheless, stocks' decline was fast and steep enough to cause most sentiment measures to signal oversold, suggesting that those willing to step into the fray could be rewarded for buying the dip. And boy, have they been rewarded. 💵💰💰💵 The S&P 500 has marched 25% higher, and the Nasdaq has surged over 30%. President Trump's pause on most reciprocal tariffs fueled the gains on April 9. 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