Benchmark reiterates Coinbase’s “Buy” rating, stating it is transforming into a platform connecting on-chain and traditional finance.

TechFlow News, June 17: According to The Block, Benchmark has reaffirmed its “Buy” rating on Coinbase and maintained its $270 price target, stating that the company is transforming from a cyclical crypto brokerage into an infrastructure platform bridging traditional finance and on-chain economies.

The firm noted that Coinbase’s latest product initiatives include tokenized U.S. equities, options, prediction markets, and AI tools. Additionally, anticipated approvals from the U.S. Commodity Futures Trading Commission (CFTC) will support its advancement of the “universal exchange” strategy.