The coin base share slips while the regulatory problems of the stock exchange intensify

The coin base share slips while the regulatory problems of the stock exchange intensify

Coinbase suffers from the latest regulatory measures because investors flee from its shares. This has caused the company's shares to break up by 28.6 % in the past three weeks.

On April 11th Coin was traded at a little over $ 70, but on May 2, he had fallen to $ 51 in the after -board trade after he had fallen by 3 % since the beginning of this week.

The share has currently fallen by almost 40 % compared to its maximum of $ 84 in 2023 on March 21st, as America's war intensified against crypto. In comparison, the cryptoma markets only decreased by 8.5 % compared to their high from 2023.

Coinbase shares are now traded by 85 % under their all-time high of $ 343 in November 2021, in the same month as the highlight of the crypto bull market.

Coinbase downgraded

At the beginning of this week, the Citi Group classified the shares of the crypto exchange from "Buy" to "neutral" and referred to an unsafe regulatory background. Analyst Peter Christiansen wrote:

"Until the regulatory 'traffic rules' in the USA are better established, the stock will remain burdened by this high level of uncertainty."

The coinbase share started after the security and Exchange Commission published a message to Wells at the end of March.

Last week, the company's executives left the security supervisory authority and explained that the threat of legal steps, if there is no clear set of rules, was not constructive. "We are ready to defend this position in court, but it doesn't have to happen," added CEO Brian Armstrong.

She also submitted a lawsuit to the Federal Supreme Court last week to force the SEC to respond to her petition from July 2022, in which she asked for regulatory clarity in relation to crypto. The Federal Regulation Authority ignored the petition and the application, but continued with its approach to the crypto enforcement.

Coinbase was back in hot water this week when managers were accused of unloading stocks in the millions in order to avert losses from insider trading. The most recent crypto lawsuit in the country of the legal dispute claimed that the management of the company had sold its shares before a result report led to a decline in stock prices.

bank stocks fall from

Coinbase is not the only company that experiences price losses. The American banking crisis seems to be tightened because several banks recorded price losses this week.

pacwest, Western Alliance and several other financial institutions on the day of May 2 after the first republic bank confiscated by the US finance supervisory authorities by over 20 %.

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