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Goldman Sachs Significantly lowered the target price for Coinbase stock to $235
Svmuu News: Following reports of a new draft bill on stablecoins, Goldman Sachs. has significantly lowered its price target for Coinbase from $270 to $235. Coinbase has long been one of the staunchest advocates for stablecoin rewards. Its CEO, Brian Armstrong, has repeatedly stated that allowing the use of stablecoins is crucial for U.S. citizens to “make their money work harder.” However, the draft CLARITY Act mentions a ban on platforms providing yields to stablecoin holders “directly or indirectly,” triggering a pullback in the stock prices of Coinbase and Circle.(TheStreet)
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