{"id":19720,"date":"2023-03-28T03:25:15","date_gmt":"2023-03-28T03:25:15","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/03\/28\/dan-dolevs-view-on-coinbase-stock-after-cftc-sued-binance\/"},"modified":"2023-03-28T03:25:16","modified_gmt":"2023-03-28T03:25:16","slug":"dan-dolevs-view-on-coinbase-stock-after-cftc-sued-binance","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/03\/28\/dan-dolevs-view-on-coinbase-stock-after-cftc-sued-binance\/","title":{"rendered":"Dan Dolev\u2019s view on Coinbase stock after CFTC sued Binance"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/133577324_m_normal_none-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/133577324_m_normal_none-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/133577324_m_normal_none-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/133577324_m_normal_none-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2023\/03\/133577324_m_normal_none.jpg\" alt=\"dan dolev view coinbase stock cftc sued binance\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>CFTC sued Binance for violating federal legal guidelines to draw U.S. shoppers.<\/li>\n<li>Mizuho\u2019s Dan Dolev reiterates his $30 worth goal on Coinbase stock.<\/li>\n<li>He prefers Bitcoin over Coinbase Global Inc to play the crypto area.<\/li>\n<\/ul>\n<p>On Monday, Commodity Futures Trading Commission <a href=\"https:\/\/www.investopedia.com\/cftc-charges-binance-founder-with-willful-evasion-7371649\" target=\"_blank\" rel=\"noopener\">sued<\/a> Binance for violating federal legal guidelines to draw U.S. shoppers.<\/p>\n<h2>What does it imply for the Coinbase stock?<\/h2>\n<p>Theoretically, that needs to be a chance for rival Coinbase Global Inc (NASDAQ: COIN) to broaden its market share.<\/p>\n<p>Still, Dan Dolev \u2013 Senior Analyst at Mizuho recommends in opposition to investing within the crypto trade. Explaining why on CNBC\u2019s \u201c<a href=\"https:\/\/www.cnbc.com\/video\/2023\/03\/27\/heres-why-you-should-own-bitcoin-mizuhoas-dan-dolev.html\" target=\"_blank\" rel=\"noopener\">Closing Bell: Overtime<\/a>\u201d, he mentioned:<\/p>\n<blockquote>\n<p>What you\u2019re seeing now&#8217;s starting of the actual crackdown on crypto. If I owned any of those crypto names, I\u2019d be actually nervous. I wouldn\u2019t spend money on any public trade, together with Coinbase.<\/p>\n<\/blockquote>\n<p>Last week, Coinbase additionally obtained <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-03-22\/coinbase-coin-gets-sec-wells-notice-over-crypto-offerings\" target=\"_blank\" rel=\"noopener\">a Wells notice<\/a> from the Securities and Exchange Commission for violating U.S. securities legal guidelines. Coinbase stock ended practically 10% down on Monday.<\/p>\n<h2>Dolev prefers Bitcoin over Coinbase stock<\/h2>\n<p>Dolev presently has an \u201cunderperform\u201d score on the crypto trade. His $30 worth goal suggests its shares may tank one other 50% from right here.<\/p>\n<blockquote>\n<p>There\u2019s no enterprise mannequin. If the federal government cracks down on altcoins and staking, that\u2019s 35% of Coinbase income \u2013 on Ethereum, you\u2019re including one other 20%-30%. Then, what are they left with?<\/p>\n<\/blockquote>\n<p>Nonetheless, Coinbase Global Inc <a href=\"https:\/\/www.coindesk.com\/business\/2023\/02\/21\/coinbase-q4-revenue-beats-expectations-but-transaction-volume-falls-12-from-q3\/\" target=\"_blank\" rel=\"noopener\">reported<\/a> better-than-expected outcomes for its fourth monetary quarter in February. It, nonetheless, ended This autumn with 8.3 million MTUs (month-to-month transacting customers) versus 8.5 million a 12 months in the past.<\/p>\n<p>The Mizuho analyst prefers Bitcoin over Coinbase stock to play the crypto area.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this text<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/dan-dolev-view-coinbase-stock-cftc-sued-binance\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] CFTC sued Binance for violating federal legal guidelines to draw U.S. shoppers. Mizuho\u2019s Dan Dolev reiterates his $30 worth goal on Coinbase stock. He prefers Bitcoin over Coinbase Global Inc to play the crypto area. On Monday, Commodity Futures Trading Commission sued Binance for violating federal legal guidelines to draw U.S. shoppers. What does 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