WS #16691
Morgan Stanley downgraded Coinbase, slashing its price target by 53% on a weak earnings outlook, reflecting growing institutional skepticism about the profitability of crypto exchanges in a regulated environment. In contrast, Strive Corporation continued buying Bitcoin, inching closer to becoming the second-largest public holder. This divergence highlights a split between traditional finance's caution on crypto infrastructure and corporate treasuries' continued accumulation of the asset as a hedge.
Crypto Market Divergence
Morgan Stanley downgraded Coinbase, slashing its price target by 53% on a weak earnings outlook, reflecting growing institutional skepticism about the profitability of crypto exchanges in a regulated environment. In contrast, Strive Corporation continued buying Bitcoin, inching closer to becoming the second-largest public holder. This divergence highlights a split between traditional finance's caution on crypto infrastructure and corporate treasuries' continued accumulation of the asset as a hedge.