E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

What Closing Costs Do Home Buyers Have?

February 25, 2023

What Is Realtek HD Audio Manager

February 2, 2023

A Basic Guide To Cell Tower Leasing

February 2, 2023
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?
Facebook Twitter Instagram
E Amazings
You are at:Home»Crypto»Coinbase (COIN) Shares Soar 18% Following BlackRock Announcement
Crypto

Coinbase (COIN) Shares Soar 18% Following BlackRock Announcement

By August 4, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email

[ad_1]

Coinbase (COIN) shares are trading for $95.55 following the announcement of its partnership deal with Blackrock. That’s up 18% from Wednesday’s $80.81 close – adding to a mysterious momentum boost the stock has experienced since Wednesday. 

 

  • CryptoPotato reported on Thursday that BlackRock – the world’s largest asset manager – tapped Coinbase to help provide crypto trading and custody to its institutional clients. Its service will begin with a focus on Bitcoin. 

  • Joseph Chalom – Head of Strategic Ecosystem Partnerships at BlackRock – stated that interest in crypto exposure has been increasing among Blackrock’s client base. The firm currently holds over $8 trillion in assets under management. 

  • Coinbase’s stock opened on Wednesday at $106 at 09:30 EST, just hours after the reveal. It peaked at $115 shortly after, before trickling into the mid-ninety dollar range.

  • This follows a 20% jump for COIN on Wednesday, rising from the lower sixty dollar range it held at the start of the week. As told by CNBC, the earlier rise may be attributed to a short squeeze – a price pump caused by large numbers of short traders being liquidated. 

  • If true, recent news would give such traders a right to be bearish. The crypto bear market has seen the stock plummet from its all-time highs, alongside multiple other crypto-focused firms.

  •  Coinbase was also recently slapped with an SEC investigation for allegedly listing unregistered securities. Its stock plummeted 21% in response, after which Cathie Wood’s ARK Invest dumped the stock at an all-time low of $53. 

  • On top of that, Coinbase’s former employee was struck with the very first cryptocurrency insider trading charges last month. The suspect, Ishan Wahi, has since pleaded not guilty.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

[ad_2]

Source link

Related Posts

Report With an Eye on Mutual Settlements with China, Russia To Launch CBDC Early Next Year: Report

By September 28, 2022

China Cracks Down a $5.6 Billion Crypto Money-Laundering Scheme (Report)

By September 28, 2022

Binance Launches Training Program For Law Enforcement Agencies

By September 28, 2022

FTX US President Brett Harrison Steps Down

By September 27, 2022
Add A Comment

Comments are closed.

Our Picks

What Closing Costs Do Home Buyers Have?

By Corbin BowenFebruary 25, 2023

What Is Realtek HD Audio Manager

By Corbin BowenFebruary 2, 2023

A Basic Guide To Cell Tower Leasing

By Corbin BowenFebruary 2, 2023
Recent Posts
  • What Closing Costs Do Home Buyers Have? February 25, 2023
  • What Is Realtek HD Audio Manager February 2, 2023
  • A Basic Guide To Cell Tower Leasing February 2, 2023
  • Air Duct Repair 101: Everything You Need To Know February 2, 2023
  • Advantage LIC? How Budget Insurance Amendment Bill may benefit the PSU insurance giant January 5, 2023
  • The Flight Of The Dremel January 5, 2023
  • LIC offering multiple benefits on premium payment with co-branded credit cards with Axis Bank: Check features, offer January 5, 2023
Archives
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • September 2021
Facebook Twitter Instagram Pinterest TikTok
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.