HOOD - What's Going On With Coinbase's Stock? | Benzinga
Coinbase Global, Inc. (NASDAQ:COIN) shares are trading lower Tuesday amid a dip in the price of Bitcoin (CRYPTO: BTC).
What To Know:
Bitcoin is trading down by more than 3% over the past 24 hours at $67,171.52, according to data from Benzinga Pro.
Robinhood Markets, Inc. (NASDAQ:HOOD) announced the acquisition of Bitstamp Ltd., an established, global cryptocurrency exchange, last week. Robinhood's further expansion into cryptocurrency is putting some pressure on established crypto exchanges, including Binance and Coinbase, as a new competitor enters the market.
Last week, Coinbase introduced its new smart wallet as a solution to the previously cumbersome onboarding process associated with crypto wallets.
"These next-generation wallets address the biggest pain points of the crypto experience today," the company stated, in a blog post. "Smart ...