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OFFON

COINBASE GLOBAL, INC.

(COIN)
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Delayed Quote. Delayed Nasdaq - 10/22 04:00:00 pm
300.84 USD   +0.28%
10/22INSIDER SELL : Coinbase Global
MT
10/21COINBASE GLOBAL : Announces Date of Third Quarter 2021 Financial Results
BU
10/21SOCIAL BUZZ : Walstreetbets Move Lower Premarket Thursday
MT
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Coinbase Global : scraps plans for crypto lending program

09/20/2021 | 01:35pm EDT

Sept 20 (Reuters) - Coinbase Global Inc has scrapped its plan to launch an interest-yielding USD Coin (USDC) lending program, the cryptocurrency exchange said in a blog post.

The move comes days after U.S. regulators said it would sue Coinbase if it went ahead with its program allowing users to earn interest by lending digital assets.

"As we continue our work to seek regulatory clarity for the crypto industry as a whole, we've made the difficult decision not to launch the USDC APY program," Coinbase's blog post said. (https://bit.ly/3tVaUuw)

USDC is a stablecoin that is pegged to the U.S. dollar and can be redeemed for $1 on a one-to-one basis.

The crypto exchange also said it has discontinued the waitlist for its USDC APY (annual percentage yield) program, a high-yield alternative to traditional savings accounts that would have paid lenders of USDC to Coinbase a 4% APY.

Coinbase, which said it has seen a rise in crypto interest account in recent times, had been planning to offer a principal guarantee to lenders of USDC in their Coinbase account.

It added that a 4% APY on USDC would provide a customer eight times the national average on high-yield savings accounts, based on a Bankrate.com survey of U.S. savings accounts in June 2021. (Reporting by Sohini Podder in Bengaluru; Editing by Shailesh Kuber)


ę Reuters 2021
All news about COINBASE GLOBAL, INC.
10/22INSIDER SELL : Coinbase Global
MT
10/21COINBASE GLOBAL : Announces Date of Third Quarter 2021 Financial Results
BU
10/21SOCIAL BUZZ : Walstreetbets Move Lower Premarket Thursday
MT
10/20Crypto-Related Stocks Surge as Bitcoin Hits New Record High
MT
10/20INSIDER SELL : Coinbase Global
MT
10/19Dow Jones Industrial Average : Wall Street rises as investors bet on earnings
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10/19COINBASE GLOBAL : Chosen as Custody Partner for Facebook's New Digital Wallet
MT
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10/19FACEBOOK : Chooses Coinbase as Custody Partner for New Digital Wallet, Novi; COIN Shares C..
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10/19PRESS RELEASE : Advanced Blockchain AG Has Invested in Obol Technologies
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Analyst Recommendations on COINBASE GLOBAL, INC.
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Financials (USD)
Sales 2021 7 167 M - -
Net income 2021 3 099 M - -
Net cash 2021 4 233 M - -
P/E ratio 2021 24,1x
Yield 2021 -
Capitalization 63 456 M 63 456 M -
EV / Sales 2021 8,26x
EV / Sales 2022 8,90x
Nbr of Employees 2 176
Free-Float 70,3%
Chart COINBASE GLOBAL, INC.
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Technical analysis trends COINBASE GLOBAL, INC.
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 300,84 $
Average target price 342,77 $
Spread / Average Target 13,9%
EPS Revisions
Managers and Directors
Brian Armstrong Chief Executive Officer & Director
Alesia J. Haas Chief Financial Officer
Fred Ehrsam Director
Frederick R. Wilson Director
Kathryn Haun Director
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