NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

Coinbase stock: COIN dumps amid fresh SEC probe

by August 11, 2022
written by August 11, 2022

Coinbase (NASDAQ:COIN) stock has dumped more than 12% in intraday trading on Thursday, the company’s shares currently poised at $82.80. The downside has the stock losing around $11.30 since trading on Wall Street on Thursday.

Thursday’s losses for COIN come after Coinbase posted more than $1 billion in losses for Q2, the loss reflecting a downside of nearly $5 per share. This is also happening amid a broader lull across equities, with both S&P 500 and Nasdaq struggling to hold onto Wednesday’s gains.

COIN price – why is Coinbase stock down?

The Coinbase stock is engulfed in a bearish battle, the dip coming after reports emerged the crypto exchange is being investigated by the SEC in relation to the platform’s staking programs.

In July, the SEC announced a probe against Coinbase over allegations of listing unregistered securities. This came days after the agency charged the exchange’s former product manager for insider trading, with the listing of nine alleged security tokens even seeing Binance US delist the Amp (AMP) token.

The latest investigation against Coinbase relates to its staking and yield farming services, the exchange noted in its Q2 report. According to the platform, the SEC had send “investigative subpoenas” asking for details and documents on the programs.

The negative news seems to be weighing COIN down and could see the token flip lower. The main support levels remain recent lows seen in July.

The post Coinbase stock: COIN dumps amid fresh SEC probe appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
KuCoin Wallet integrates 1inch for native swap functionality
next post
Home Depot stock prediction ahead of earnings as price pumps

You may also like

Disney Q1 earnings report: ‘this stock is unmatched...

February 9, 2023

Bank of America sees a 50% upside in...

February 8, 2023

Google stock loses 9.0% after it’s A.I event:...

February 8, 2023

Ex-Coinbase manager pleads guilty to insider trading charges

February 8, 2023

U.K. CMA issues provisional decision on Microsoft-Activision deal

February 8, 2023

Nasdaq 100 forecast – can index continue to...

February 8, 2023

Jim Cramer is bullish on Uber stock after...

February 8, 2023

Summary of Powell’s remarks and what it means...

February 8, 2023

Best undervalued Bill Ackman stocks for 2023

February 8, 2023

What’s happening to Chipotle stock in extended hours?

February 7, 2023
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    My Trigger to Enter $VAPR

  • 2

    Multi-Millionaire Trader Explains Why You Should Start Trading With A Small Account {VIDEO}

  • 3

    Scaling Up Tips From A 24-Year Old Millionaire Trader {VIDEO}

  • 4

    Pay Attention to These Stocks

  • 5

    New ‘Hunger Winter’ Looms as Europe Prepares to Shiver

Recent Posts

  • Disney Q1 earnings report: ‘this stock is unmatched anywhere else’

    February 9, 2023
  • Bank of America sees a 50% upside in this travel stock

    February 8, 2023
  • Google stock loses 9.0% after it’s A.I event: buy the dip?

    February 8, 2023
  • Ex-Coinbase manager pleads guilty to insider trading charges

    February 8, 2023
  • U.K. CMA issues provisional decision on Microsoft-Activision deal

    February 8, 2023

Categories

  • Economy (615)
  • Editor's Pick (235)
  • Investing (1,639)
  • Stock (9)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2023 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick