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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Profit-taking dominated the stock market as sellers targeted Magnificent Seven stocks following the Nasdaq's historic rise above 20,000. While Adobe plummeted over 10% after disappointing quarterly results, tech firms like Confluent and Ciena thrived, with Upstart rising more than 4%. The Nasdaq composite dipped nearly 0.4%, influenced by higher-than-expected wholesale prices, while the Dow Jones edged up 0.1%, maintaining a 17.3% year-to-date gain.
Bitwise predicts that Coinbase will surpass Charles Schwab as the world's most valuable brokerage by 2025, with its stock potentially reaching $700. Key growth drivers include its expanding stablecoin business, the Ethereum layer-2 solution Base, and robust staking and custody services, which have seen significant revenue increases. Currently, Coinbase's stock is trading at $317, reflecting a 4.8% gain in the last 24 hours.
Shiba Inu (SHIB) is showing signs of a potential bull run, with analysts predicting a rally to $0.0000520 if it maintains support at $0.000024. A notable "cup and handle" pattern on the weekly chart suggests upward momentum, while recent market recovery has seen SHIB trading at $0.00002843, up 2.71% in 24 hours. With Layer 2 Shibarium surpassing 2 million, the outlook for SHIB remains optimistic as it aims for significant price levels in 2025.
Coinbase is set to delist Tether's USDT and five other stablecoins in Europe due to compliance issues with the upcoming Markets in Crypto-Assets Regulation (MiCA). While USDT's compliance status remains uncertain, Tether has criticized MiCA and is exploring solutions for the European market. Coinbase will continue to support compliant stablecoins like USD Coin and EURC.
In a significant move, BlackRock and Fidelity have invested over $500 million in Ethereum (ETH) through their ETFs, following the SEC's approval of spot Ethereum ETFs. This surge has driven ETH's price to $3,974, reflecting strong institutional interest, with BlackRock's iShares Ethereum Trust ETF leading with $2.93 billion in inflows.Both firms are expanding their presence in the cryptocurrency market, with BlackRock seeking approval for spot trading options for its Ether ETFs. This trend indicates a growing acceptance of digital assets in traditional finance, potentially paving the way for mainstream adoption.
On December 12, a significant vulnerability in Dogecoin's network led to the crash of 69% of its active nodes, dropping from 647 to 315. The exploit, dubbed "DogeReaper," was executed by Andreas Kohl from an old laptop in El Salvador, raising serious concerns about the network's stability and security. Despite the potential catastrophic consequences, Coinbase labeled the vulnerability as low-severity, prompting criticism over the delayed response to secure the network.
Brian Quintenz, former CFTC commissioner and current head of policy at a16z, is reportedly the leading candidate for CFTC chair under President-elect Trump. His appointment could clarify the regulatory landscape for cryptocurrencies, as he advocates for innovation and regulatory balance.Quintenz has criticized the SEC's treatment of Ether, arguing that its approval of Ether futures ETFs indicates that ETH is not a security. a16z expresses optimism about the Trump administration's pro-crypto stance, anticipating greater flexibility in regulatory approaches.
Peanut the Squirrel (PNUT), a Solana-based meme coin, surged by 25% to nearly $1.40 before stabilizing at $1.27, following its addition to Coinbase's "roadmap" and a revival in the meme coin market, which saw an 8% increase in market capitalization.Launched in November, PNUT gained traction after a controversial incident involving a pet squirrel, leading to significant profits for early investors during its bull run. Major exchanges like Binance and Bybit have already listed PNUT, contributing to its growing popularity.
Tom Dunleavy, CIO at MV Global, predicts Bitcoin will reach $250,000 and Ethereum $12,000 by the end of 2025, drawing parallels to the economic shifts of the 1970s. He anticipates a strong market start in Q1, gradual institutional adoption in Q2, a summer lull in Q3, and a significant year-end surge in Q4, influenced by potential ETF approvals and legislative advancements.
A hacker exploited a critical vulnerability in the Dogecoin network, causing 69% of its nodes to crash. Andreas Kohl, co-founder of Bitcoin sidechain Sequentia, utilized an old laptop to execute the attack, which was made possible by a flaw discovered by researcher Tobias Ruck. The vulnerability, dubbed "DogeReaper," allows anyone to remotely crash Dogecoin nodes, potentially threatening the entire network's stability.
Coinbase Global, Inc.
Companies
| Symbol | COIN |
| Name | Coinbase Global, Inc. |
| Currency | USD |
| Sector | Information Technology |
| IndustryGroup | Software & Services |
| Industry | Software |
| Market | NASDAQ Global Select |
| Country | United States |
| State | DE |
| City | Wilmington |
| Zipcode | 19801 |
| Website | http://www.coinbase.com |
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