JP Morgan Downgrades Coinbase Rating, Concerned ETF Could Disappoint Investors, Sets Target Price at $80

Coinbase’s previously announced third-quarter financial report revealed a decline in cryptocurrency trading volume to $76 billion due to the overall downturn in the cryptocurrency market. This resulted in a decrease in transaction-related revenue to $290 million. However, thanks to effective cost control measures, net losses have gradually reduced. Coinbase stated that it expects to generate significant adjusted profits in 2023.