Coinbase's share price tanked more than 4% after a Piper Sandler analyst downgraded the stock to neutral from overweight. The analyst cut the stock's price target from $65 to $60.
Coinbase CEO Brian Armstrong sold more than 29,000 shares worth over $1.7 million just 2 days before the SEC filed a lawsuit against his company. The crypto community has questioned the timing of the questionable stock sales, with some alleging a stock dump by the CEO.
Over the past few months, Bitcoin (BTC) has been lauded by economists, investors, and commentators as an up-and-coming “safe haven”...