TechFlow news, July 23 — According to CoinDesk, Citi said in a research report on Tuesday that Coinbase could benefit from an improved U.S. regulatory environment, particularly against the backdrop of the upcoming presidential election and the Supreme Court overturning the Chevron precedent. Citi upgraded Coinbase’s rating from Neutral to Buy and raised its price target from $260 to $345.
The report also stated that the launch of spot Ethereum ETFs would help drive broader adoption of cryptocurrencies and create greater custody revenue opportunities for Coinbase. Despite the stock already rising 52% year-to-date, Citi believes future regulatory improvements could unlock stalled institutional capital, promote collaboration between crypto and traditional finance, and further enhance market activity and liquidity.
