Coinbase Global Inc Ordinary Shares - Class A

COIN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Coinbase: Increasing Our Fair Value Estimate to $170 From $150 to Reflect Higher Stable Coin Revenue

Michael Miller

Feb 20, 2025

As shown by impressive trading revenue results in the fourth quarter, Coinbase's USDC business was a major success story in 2024. Recovering from its Silicon Valley bank lows, the stable coin's market capitalization has set new highs, taking market share from its closest rival, Tether.

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Coinbase Global Inc Ordinary Shares - Class A

Coinbase: Increasing Our Fair Value Estimate to $170 From $150 to Reflect Higher Stable Coin Revenue

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