Summary Since my March bearish call on Coinbase, the stock is down ~19% amid the growing S&P 500 Index. I still have the impression that downward EPS revisions are inevitable for COIN - they should weigh on the share price going forward. The way the company is trying to solve the problem with the SEC by filing counterclaims does not solve the problems, but in my opinion, only exacerbates them. I reiterate my earlier sell recommendation and see a downside of at least 20-25% from current share price levels.
Do We Even Need Bitcoin ETFs
