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Coinbase (COIN) Shares Under Selling Pressure After Bermuda Expansion

Coinbase (COIN) shares are experiencing selling pressure due to regulatory crackdowns and continued quarterly losses. CEO Brian Armstrong is reportedly considering leaving the US due to a lack of regulatory clarity. COIN stock price fell 4.19% to $64.44 on Wednesday, and there are concerns among investors about the company's offshore expansion plan to Bermuda and Abu Dhabi. Coinbase has received a license in Bermuda and is seeking one from the FSRA in Abu Dhabi. Despite the decline in trading volumes, Coinbase is actively expanding in Europe ahead of passing MiCA regulation by the European Parliament. Investors are questioning why Coinbase was approved to go public in the US if the SEC believes the exchange is operating illegally.

(By Varinder Singh)

Coinbase tokenized stock FTX Coinbase tokenized stock FTX $87.77
+23.12%
Coinbase Brian Armstrong
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