Latest news with #CoinbaseOneCard
Business Insider
6 days ago
- Business
- Business Insider
Why Coinbase's (COIN) 30% Slide is a Blessing in Disguise
Coinbase Global (COIN) is down about 30% from its 52-week high of ~$445, with the market fretting over a big miss in its Q2 revenues and a costly data breach. Yet, the company notched some impressive wins, such as growing stablecoin revenue and its derivatives business. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. With crypto adoption surging, especially among institutions, and Bitcoin and Ethereum hovering near record highs, Coinbase's momentum looks strong. The valuation today isn't crazy either. Thus, I'm still Bullish on COIN stock. Headwinds Hitting Coinbase Hard To be fair, the market wasn't thrilled with Coinbase's latest results, and it's easy to see why. The company reported EPS of $5.14, seemingly beating market expectations of $1.25. However, COIN's adjusted EPS was actually $0.12 — down a breathtaking 89% year-over-year, while revenue of $1.5 billion missed forecasts by about $97 million. Trading volumes tanked, with consumer spot trading down 45% to $43 billion and institutional volumes dropping 38% to $194 billion, as crypto market volatility dipped 16%. A $307 million expense tied to May's data theft incident didn't help either and, in fact, raised concerns about security and costs. It's not hard to see why those figures rattled investors. Trading volumes have been sliding, pointing to a broader market slowdown. While Bitcoin (BTC) managed a ~10% price bump last quarter, other digital assets together shed about 11% of their total value. Add to that the steady drip of regulatory pressure, which is never a friend to margins in an already cutthroat industry, and you've got a recipe for skepticism. In that context, the market's doubt over whether the company can steady itself feels almost inevitable. Still, it's not all doom and gloom. Coinbase's challenges are real, but they're certainly not the whole story. The company is grappling with a cyclical industry, and the data breach, while costly, is a one-off setback. In fact, I believe that the bigger picture shows a company adapting to a rapidly evolving market, which brings us to the brighter side of things. Bright Spots in a Stormy Quarter Despite the top and bottom-line misses, Coinbase pulled off some serious wins in Q2 that merit a closer look. Stablecoin revenue, tied to USDC, jumped 12% quarter-over-quarter to $332.5 million, fueled by a 13% increase in USDC balances to $13.8 billion. Furthermore, the company's push into financial services, including integrating USDC with Shopify Payments and launching the Coinbase One Card, is definitely gaining traction. These are just some examples of how Coinbase is building real-world utility for crypto, beyond just trading fees. Coinbase also flexed its muscle in derivatives, launching CFTC-regulated perpetual futures in the U.S. and acquired Deribit, a leading crypto options exchange with $30 billion in open interest. Derivatives trading volume hit all-time highs, and the company listed over 300 spot crypto assets, with plans to integrate decentralized exchanges into its app for access to millions of tokens. These steps align with CEO Brian Armstrong's vision of an 'everything exchange,' positioning Coinbase to capture a broader slice of the financial pie. Then you have the broader trend of institutional crypto adoption, which is another tailwind. Coinbase powers over 80% of custody for crypto ETFs and partners with heavyweights like BlackRock (BLK) and J.P. Morgan (JPM). With the GENIUS Act signed into law in July, providing regulatory clarity for stablecoins, Coinbase is well-placed to ride the wave of institutional interest as crypto becomes a mainstream asset class. Valuing a Crypto Pioneer The fact is that assigning a fair value to Coinbase is tricky because crypto is unlike any traditional industry. Its revenue swings with market volatility, and its growth hinges on regulatory shifts and adoption trends, making standard metrics like P/E feel a bit like fitting a square peg into a round hole. Now, with a P/E of around 40 based on this year's projected EPS of $7.81, the stock might seem pricey. However, for a leader in a booming industry, it's not outrageous. Today, the market feels unusually charged as Bitcoin trades near $118,500 and Ethereum hovers close to $4,200, both brushing against all-time highs and hinting at strong underlying confidence. Meanwhile, Wall Street's growing involvement in crypto, from the launch of ETFs to companies adding digital assets to their treasuries, is fueling demand for established and trusted platforms such as Coinbase. In fact, COIN's partnerships with over 240 businesses, like Stripe and PayPal (PYPL), and its role in custody for 150+ government agencies, cement its reputation as the go-to player in crypto. This trust factor justifies a premium, as institutions will likely lean on Coinbase as they dive deeper into digital assets. So I believe the stock's valuation reflects its potential to dominate a market where tokenized assets and stablecoin payments could redefine finance. Is Coinbase Global a Good Investment? There are 29 analysts offering price targets on COIN stock via TipRanks, with a fairly bullish consensus. Today, the stock carries a Moderate Buy consensus rating based on 14 Buy, 13 Hold, and two Sell ratings over the past three months. COIN's average stock price target of $374.85 suggests more than 20% upside over the next twelve months. COINing the Future Amid Crypto Volatility Coinbase's latest quarter was a reminder of just how volatile and unpredictable the crypto space can be. Even so, the company's widening range of products, strong relationships with institutions, and leading position in custody and derivatives suggest it is built for the long haul. More explicit rules and a continued wave of adoption, particularly from large investors, could give growth an extra push even if market conditions remain uneven. For investors who can stomach short-term swings, I think that Coinbase offers a rare blend of scale, trust, and innovation that could make today's turbulence a compelling entry point into crypto's next growth phase.
Yahoo
16-06-2025
- Business
- Yahoo
Coinbase Connection – And This Telltale Clue
Set to launch the Coinbase One Card later this year exclusively on the American Express network, AmEx stock eyes a breakout.
Yahoo
14-06-2025
- Business
- Yahoo
Crypto Currents: Coinbase, Shopify partner for USDC payments
As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter COINBASE, SHOPIFY PARTNER FOR USDC PAYMENTS: On Thursday, Coinbase (COIN) announced a partnership with Shopify (SHOP). The company said, 'We are working together to bring commerce onchain by making it easy for all merchants on Shopify Payments to accept USDC payments on Base. We're rolling this out with early access merchants today, and will expand to all stores around the globe running Shopify Payments later this year. The future of payments is here. Shopify chose Base to bring crypto payments mainstream because it offers fast, cheap, and secure onchain transactions everywhere around the world. This partnership represents a significant step toward Base's mission to bring a billion people onchain.' Additionally at its State of Crypto Conference, Coinbase announced that it(AXP) Network. The Coinbase One Card will offer up to 4% bitcoin back on every purchase, offered by Coinbase and Cardless, and issued by First Electronic Bank. Will Stredwick, SVP, global network services at American Express, said, 'In today's world, we see real potential in the combination of Coinbase and crypto with the Powerful Backing of American Express, and what the card offers is an excellent mix of what customers are looking for right now…The Coinbase One Card will offer crypto rewards alongside unique benefits, offers, experiences, and protections through the American Express Network.' The company also announced Thursday that it will be launching a Coinbase Business financial platform later this year. The company said, 'At Coinbase, we've spent over a decade building the trusted foundation for the cryptoeconomy to increase economic freedom around the world. Now, we're bringing that same security, scale, and compliance to everyday businesses with Coinbase Business, a modern financial stack built with the speed and scale of crypto. Coinbase Business is purpose-built for modern operations and designed to streamline financial workflows for small-to-medium-sized businesses and startups. Whether you're looking to send and receive payments, manage crypto assets, or automate payouts, Coinbase Business allows you to do it all in one secure account.' On Friday, BofA raised the firm's price target on Coinbase to $259 from $216 and kept a Neutral rating on the shares. With the GENIUS and CLARITY Acts through committee, the firm thinks that regulatory clarity will be achieved over the near-term, which would broaden crypto participation, and it is raising its multiple and revising up volume estimates for Coinbase's institutional business in order to embed the benefit of greater regulatory clarity. However, while positive on the regulatory front, the firm also views the retail trading backdrop as 'peakish' and views Coinbase's valuation as 'full' relative to its long-term growth prospects, the analyst said. Meanwhile on Wednesday, William Blair initiated coverage of Coinbase with an Outperform rating. The firm views the crypto industry as 'nascent, rapidly evolving, and poised for durable above-average growth,' measured by token market capitalization and transaction volume. Crypto's 'time on the fringe is ending,' replaced by an era of consistent regulation and expanding use-cases with the ultimate potential to supplant the traditional global financial system, the analyst said. Blair believes Coinbase's leadership creates an inherent advantage, and views the stock as the best way for growth investors to participate in a 'crypto renaissance.' It believes the company's solutions constitute the most comprehensive crypto services portfolio, underpinned by security and trust. BITCOIN DEPOT ACQUIRES ASSETS OF PELICOIN: Bitcoin Depot (BTM) announced Wednesday it has acquired the assets of Pelicoin, a crypto ATM operator based in New Orleans, Louisiana. The deal will add kiosk locations across Louisiana, Mississippi, Tennessee, Alabama, and Texas, strengthening Bitcoin Depot's presence in the Gulf South. Pelicoin's ATM network will be fully integrated into Bitcoin Depot's platform in the coming weeks, with all locations transitioning to Bitcoin Depot branding. The financial terms of the transaction were not disclosed. 'Pelicoin is a strategic addition to our footprint in a region where we see real opportunity,' said Brandon Mintz, CEO. 'Pelicoin's locations give us a stronger presence in the Gulf South, and we can immediately apply our scale and experience to operate their machines more efficiently. This acquisition is part of our broader effort to consolidate a fragmented market and extend our leadership in cash-to-crypto access nationwide. As the industry matures, we believe our ability to integrate and optimize smaller networks is a key advantage.' Following the news, Northland raised the firm's price target on Bitcoin Depot to $8.50 from $7 and kept an Outperform rating on the shares. While this 'appears to be a relatively small acquisition,' the firm views it as 'a testament' to management executing on its kiosk acquisition roll-up strategy, the analyst said. STRATEGY BUYS MORE BITCOIN: Strategy (MSTR) announced Monday updates with respect to its at-the-market offering programs and bitcoin holdings. The company raised $112.2M and purchased 1,045 bitcoin for an aggregate purchase price of $110.2M during the period of June 2 to June 8. As of June 8, the company's aggregate bitcoin holdings were 582,000. JPMORGAN UPDATES BITCOIN MINER PRICE TARGETS: On Friday, JPMorgan raised the firm's price target on Riot Platforms (RIOT) to $14 from $13 and kept an Overweight rating on the shares. The firm updated bitcoin miner price targets and models to reflect the Q1 results and changes in bitcoin price and the network hashrate. JPMorgan applied a sum-of-the-parts valuation framework, which values miners based on their mining operation, land and power portfolio, and bitcoin holdings. The analyst also raised the firm's price target on Mara Holdings (MARA) to $19 from $18 and kept a Neutral rating on the shares as well as on CleanSpark (CLSK) to $14 from $12 and keeps an Overweight rating on the shares. WALMART, AMAZON MULL ISSUING STABLECOINS: Walmart (WMT), Amazon (AMZN), and other multinational companies as well as Expedia Group (EXPE) and airline companies have explored whether to issue their own stablecoins in the U.S., the Wall Street Journal's Gina Heeb, AnnaMaria Andriotis, and Josh Dawsey reported Friday, citing people familiar with the matter. Stablecoins could allow merchants to get around traditional payment restrictions and offer the possibility for a quicker process. OTHER CRYPTO NEWS: Riot Platforms reports beneficial ownership of 14.3% in Bitfarms (BITF) Stablecoin 'quietly become' second largest miner, says BTIG PayPal (PYPL) plans to make its stablecoin available on the Stellar network TeraWulf (WULF) price target raised to $6 from $4.50 at Rosenblatt CRYPTO STOCK PLAYS: Publicly traded companies in the space include Bit Digital (BTBT), Coinbase, Core Scientific (CORZ), Greenidge Generation (GREE), Mara Holdings, Strategy, Riot Platforms and TeraWulf. PRICE ACTION: As of time of writing, bitcoin was roughly flat this week at $104,990 in U.S. dollars, according to CoinDesk. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See the top stocks recommended by analysts >> Read More on COIN: Disclaimer & DisclosureReport an Issue Spetz says Sonic blockchain's native token $S set to be listed on Coinbase USDC Comes to Shopify, Coinbase Deal Could Boost SHOP Stock Coinbase price target raised to $259 from $216 at BofA Coinbase Launches First-Ever American Express Credit Card with 4% Bitcoin Cashback Coinbase Global: Hold Rating Amid Strategic Growth and Market Uncertainties
Yahoo
14-06-2025
- Business
- Yahoo
Coinbase and American Express to launch 4% bitcoin reward card
Coinbase has announced it will launch its new Coinbase One Card later this year in partnership with American Express. The card will run on the American Express network while being issued by First Electronic Bank. With up to 4% bitcoin back on purchases, this is welcome news for cryptocurrency enthusiasts seeking more competition in the crypto credit card market. However, it's too early to tell if this offering is better than what's currently available with crypto-based Gemini Credit Card or even an everyday cash-back credit card. The Coinbase One Card launches in fall 2025 — you can sign up now for the early-access waitlist using the Coinbase website. Earn between 2% and 4% bitcoin back on every purchase — you can unlock the higher earning rates by holding more assets with Coinbase. It's only available with a Coinbase One subscription, which will soon be available to all customers starting at $49.99 per year. The Coinbase One Card is only available in the U.S. (excluding U.S. territories). While more details will be released in the fall, here's what we know about the Coinbase One Card for now. Cardholders will earn 2%, 2.5%, 3%, or 4% bitcoin back on purchases, depending on their Coinbase assets. The more Coinbase assets you hold (we don't know specific numbers yet), the higher your earnings rate. It isn't explicitly stated whether the Coinbase One Card has an annual fee. Our assumption is that it won't because you have to pay for a Coinbase One subscription to qualify for the card. One of the FAQs on the landing page also states that 'the Coinbase One Card is exclusively available to Coinbase One members at no added charge.' Apart from the rewards rate, there are no foreign transaction fees. Cardholders also receive Coinbase One and American Express benefits.$0 trading fees on the first $500 per month in trades (a spread applies) 4.5% APY on USDC rewards (on the first $10,000, then 4.1%) 5% more staking rewards on ETH, SOL, and other eligible assets $120 ($10 per month) transaction credits on BaseAccess to Amex Offers and Amex Experiences (perks only available on American Express credit cards) Car rental loss damage Emergency assistance Extended warranty Lost luggage insurance Retail protection Return protection Roadside assistance Trip cancellation and trip interruption The Coinbase One Card is only available to eligible applicants who are Coinbase One members located in the U.S. (excluding U.S. territories). Coinbase One is a monthly subscription that provides different benefits depending on which subscription tier you sign up for. For example, the Basic tier provides zero trading fees on simple trades (a spread applies) up to a certain dollar amount per month. However, the Premium tier has no set dollar amount, giving you unlimited simple trades with zero trading fees. Coinbase One Basic currently costs $29.99 per month or $299.88 per year. Coinbase One Premium costs $299.99 per month. You can pay for Coinbase One with a linked bank account, linked debit card, linked PayPal account, fiat wallet, or crypto. On the topic of Coinbase One subscriptions, Coinbase has stated that 'annual memberships starting at $49.99/year will be available to all customers soon.' We don't yet have all the information for the Coinbase One Card, but based on what we do know, here's how it compares to the Gemini Credit Card. If earning BTC is your priority, the Coinbase One Card looks like the better option because you can earn up to 4% back on every purchase. We don't currently know if there's a limit to how much you can earn at this rate, but we do know the 4% rate on the Gemini Credit Card has a limit of $300 in spend per month, then the rate drops to 1% for the rest of the month. The Gemini Credit Card is also less appealing because its rewards rate is separated into different bonus categories. Compare this to the Coinbase One Card, which has a flat rate that rewards you for any type of eligible purchase, regardless of category. However, the Gemini Credit Card has a welcome bonus, and we don't know if the Coinbase One Card will have one. You can also earn over 50 types of cryptocurrency with the Gemini Credit Card, while the Coinbase One Card seems to be solely focused on bitcoin. Related: Can you buy crypto with a credit card? This article was edited by Alicia Hahn. Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank's website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
Yahoo
13-06-2025
- Business
- Yahoo
Coinbase to Launch Bitcoin Rewards Card With Amex, While Eyeing U.S. Futures Expansion
Crypto exchange Coinbase is planning to launch a credit card that offers bitcoin BTC cashback, the company said on Thursday. The Coinbase One Card, issued in partnership with American Express, includes perks such as earning 4% in BTC after purchases, boosted rewards on USDC stablecoin holdings and higher staking rewards and transaction credits on Base, the Ethereum layer-2 network developed by the exchange, according to the card's website. The card's rollout is expected this fall. The move comes as more crypto platforms and exchanges are rolling out payment cards to enable users to spend their blockchain-based token stash on everyday purchases. For example, self-custodial wallet MetaMask introduced its debit card last year, while Mastercard unveiled plans in April to launch debit cards with crypto exchanges OKX and Kraken. It's also not the first crypto endeavour for Amex, either: the company issued a credit card offering crypto rewards with Abra in 2022. Coinbase's announcement coincided with the company's State of Crypto Summit event in New York, where the exchange also hinted at expanding perpetual futures trading to the U.S., according to media reports. Perps trading has been limited to non-U.S. users at Coinbase Advance. However, the exchange said earlier this year in a blog post that it was working with the Commodity Futures Trading Commission (CFTC) towards making "perpetual-style futures contracts" accessible to U.S. users. Sign in to access your portfolio
