Biden's Exit Spurs Bullish Outlook? Citi Upgrades Coinbase Amid Favorable Crypto Regulatory Shifts
Biden's Exit Spurs Bullish Outlook? Citi Upgrades Coinbase Amid Favorable Crypto Regulatory Shifts
Investment bank Citi upgraded shares of cryptocurrency trading platform, Coinbase Global Inc. (NASDAQ:COIN), from neutral to buy, anticipating an improved regulatory landscape for cryptocurrency assets.
投資銀行花旗升級了數字貨幣交易平台Coinbase Global Inc. (納斯達克：COIN) 的股票評級，從中立調升至買入，預計數字貨幣資產的監管環境將有所改善。
What Happened: Analysts led by Peter Christiansen raised their guidance on the cryptocurrency-linked stock from neutral at $260 to a buy with a target of $345, according to a Bloomberg report Tuesday.
據彭博社週二報道，由Peter Christiansen領導的分析師小組，將對與數字貨幣相關聯的股票的評估從股價在260美元的中立針對性調升至345美元的買入。
"Shifts in the U.S. Election landscape and the Supreme Court's overturning of the long-standing Chevron precedent has changed our view on Coinbase's regulatory risks," Christiansen wrote.
Christiansen寫道：“美國選舉形勢的變化和最高法院推翻長期實行的Chevron先例，改變了我們對Coinbase監管風險的看法。”
The analyst added that the upcoming U.S. elections are taking a positive pivot toward the cryptocurrency industry in the wake of President Joe Biden's withdrawal from the presidential race.
分析師補充說，在總統喬·拜登退出總統競選之後，即將到來的美國選舉對加密貨幣行業發生了積極的轉變。
"President Joe Biden's time in office had led many to conclude that the potential for pro-cryptocurrency legislation would fare better under a different administration."
“拜登總統任期內許多人得出結論，在不同管理下，支持加密貨幣的立法可能會更好地實現。”
Furthermore, the analyst believes that the Supreme Court's decision to remove the Chevron Defence Doctrine, which limits regulators' power, could benefit Coinbase in its ongoing legal tussle with the SEC.
此外，分析師認爲，最高法院撤銷“Chevron Defense Doctrine”（限制監管者權力的行爲規範），有利於Coinbase在其與美國證券交易委員會（SEC）的持續法律糾紛中獲益。
See Also: Elon Musk Agrees with DogeDesigner: Funding For Trump-Supporting Super PAC Is 'Far Below' $45M A Month So Far
參見：Elon Musk 像狗狗設計師一樣贊同：支持特朗普的超級PAC的資金遠低於每月4500萬美元迄今爲止
Why It Matters: Coinbase is one of the most high-profile cryptocurrency-associated stocks on Wall Street, with a market capitalization of $63.26 billion.
爲華爾街上最知名的數字貨幣相關股票之一，Coinbase的市值爲632.6億。
Shares of the company have jumped nearly 70% year-to-date, coinciding with the broader recovery in the cryptocurrency market. This follows a lackluster performance during the 2022-23 bear market when the stock failed to reach $100.
截至目前，該公司的股票已經上漲近70％，與加密貨幣市場的整體回升相吻合。在2022-23年熊市期間，該股票未能達到100美元，表現不佳。
Coinbase was hit by an enforcement action by the SEC on charges of operating an unregistered securities exchange. In response, the cryptocurrency exchange has also sued federal regulators, accusing them of hindering the industry's growth.
Coinbase因被指控運營未註冊證券交易所而被美國證券交易委員會（SEC）採取執法行動，作爲回應，即將對證券交易委員會提起訴訟，指責其妨礙行業的發展。
Price Action: Shares of Coinbase closed 2.38% lower at $258.83 during Tuesday's regular trading session, according to data from Benzinga Pro.
股票日內收跌2.38％，報258.83美元，根據Benzinga Pro的數據。
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