COIN - Coinbase Stock Is Trading Lower Wednesday: What's Going On? | Benzinga
Coinbase Global Inc (NASDAQ:COIN) shares are facing selling pressure Wednesday. The weakness in Coinbase stock appears to be due to the New York Stock Exchange’s (NYSE) newly announced collaboration with CoinDesk.
What Happened: The NYSE said it will collaborate with CoinDesk Indices to launch cash-settled index options.
The index options will track the CoinDesk Bitcoin Price Index (XBX), which is the longest-operating spot Bitcoin (CRYPTO: BTC) index. The XBX tracks the spot price of bitcoin, denominated in U.S. dollars, in real time across multiple crypto exchanges. The ...