Coinbase Shares Decline Despite Fresh Fundraising

about 1 month ago

Christine Aquino

"And finally, Coinbase, which is really moving in tandem with the other crypto stocks. So we are seeing crypto down more than 2%. Bitcoin, which is lowest in a week and a half. And so ticker Coinbase, C-O-I-N, following suit and shares down nearly 3% at the moment. So some good news from its cardless partner, raising $600 million in fresh funds. But that's just not doing enough for the crypto decline."

Coinbase (COIN) is under pressure as shares drop nearly 3% amidst broader crypto weakness, with Bitcoin hitting a week-and-a-half low. Although the company raised $600M through its strategic partnership, the capital boost failed to counterbalance the negative market sentiment affecting crypto stocks.

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