Tags: Rating

Fitch Downgrades US Government’s Debt Rating – Does This Boost Crypto’s Use-case?

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S&P Global Finds Ties Between Crypto and Macroeconomic Changes in Latest Report

The Wall Street brokerage said it was becoming increasingly worried about the fairness of crypto enforcement actions in the U.S.

There were numerous signs of the crypto bank’s problems, but nobody seemed to notice. Angelo Calvello says you shouldn‘t use traditional investment metrics to assess a nontraditional company.

The investment bank‘s analyst slashed the price target of the crypto bank‘s shares by about 36 to $16.

Analysts at the bank lowered their estimates for the end of the year to $52 from $60.

The ratings agency cited Coinbase’s weakened revenue and cash flow generation potential due to the ongoing crypto winter as reasons for the move. S&P downgraded the company earlier this month.

The investment giant’s senior analyst is relatively optimistic the crypto exchange could stick around after crypto’s ice age finally melts.

Analyst Jason Kupferberg downgraded the crypto exchange to underperform from neutral, saying 2023 estimates are still too high.

The crypto exchange’s dwindling group of sell-side bulls said Tuesday’s announced staffing cuts are a necessary step.

The cut to "hold" by the formerly bullish analyst comes after the stock has suffered a 67 year-over-year decline.

The exchange has staying power due to its healthy balance sheet, a proactive approach to regulatory compliance, sensible risk management and legitimacy as a public company, the report said.