Overview

• Shares jumped 38% since June 18 to a one-year peak of $369 following the U.S. Senate’s approval of the GENIUS Act for stablecoin regulation.
• Coinbase became the first U.S. exchange to earn an EU Markets in Crypto Assets license in Luxembourg, enabling services across all 27 member states.
• Bernstein lifted its price target from $310 to $510 and reiterated an outperform rating, calling Coinbase the industry’s "universal bank."
• The exchange’s stablecoin business accounted for 15% of Q1 revenue as total revenues rose 75% year-over-year and the balance sheet holds $10 billion in cash.
• Strategic moves including the Deribit acquisition and Shopify integration on its Base network are set to expand Coinbase’s trading and payment capabilities.