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Coinbase drops 11% after Goldman Sachs downgrades the crypto exchange on declining trading volumes amid bitcoin bear market

1 month ago   |   By Business Insider

Coinbase announced last week that it plans to rescind job offers and freeze hiring indefinitely. Sopa Images/Getty Images Coinbase fell 11% on Monday after Goldman Sachs downgraded the crypto exchange to "Sell." The bank said the ongoing decline in crypto prices will hurt trading volumes and reduce Coinbase's revenue. Goldman Sachs set a $45 price target for Coinbase, implying a potential decline of 23% from current levels. The ongoing bear market for Coinbase stock won't end anytime soon, according to a Monday downgrade note from Goldman Sachs. The bank said the sharp decline in bitcoin...
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