Analysts have split views on what a recent crypto ruling means for Coinbase's own battle with regulators.
Coinbase Global Inc. shares roared more than 24% higher Thursday in the wake of a judge’s ruling on a case involving cryptocurrency tokens, fueling debate on Wall Street over what the decision means for Coinbase’s own regulatory headaches.The cryptocurrency... Coinbase Global Inc. shares roared more than 24% higher Thursday in the wake of a judge’s ruling on a case involving cryptocurrency tokens, fueling debate on Wall Street over what the decision means for Coinbase’s own regulatory headaches.
Additionally, he tuned in to a pre-motion conference between Coinbase and the SEC regarding their own case, and Lau thought “the judge asked good questions and showed a little skepticism toward the complaint,” another factor that could have helped fuel the rally in Coinbase shares. He was struck by a footnote in the decision that discussed how the ruling didn’t address secondary-market sales of the token in question.
Benjamin Budish of Barclays, who had turned bearish on Coinbase’s stock just before the ruling, offered a mixed take on the judgment.
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