Coinbase (COIN) shares fell 8.22% to $149.15 as investors anticipate the company's Q4 earnings release amid a wave of analyst downgrades and legal headwinds.
- H.C. Wainwright lowered its price target to $350, following similar downward revisions from JP Morgan and Citigroup earlier this week.
- The Nevada Gaming Control Board has initiated legal action against the exchange, classifying its event contracts as unlicensed gambling.
- Broader digital asset volatility and intensifying regulatory pressure continue to weigh on market sentiment ahead of the upcoming financial results.