Benchmark Rates Coinbase a Buy with $252 Price Target, Citing Stablecoin Boom Benefits

Benchmark has initiated coverage of Coinbase Global Inc. with a buy rating and a $252 price target, highlighting the crypto exchange’s potential to benefit from upcoming stablecoin regulations. The firm’s optimistic outlook is driven by Coinbase’s strong revenue from stablecoins, which contributed $910 million last year. Following the announcement, Coinbase shares surged over 4%, reflecting growing investor confidence in the company’s future prospects.

Benchmark Rates Coinbase a Buy with $252 Price Target, Highlights Stablecoin Boom Benefits

Benchmark has launched coverage of Coinbase Global Inc. with a bullish stance, assigning a buy rating and a $252 price target—a 27% premium to Wednesday’s closing price of $198. The investment bank sees the crypto exchange as a prime beneficiary of impending stablecoin regulation, a sector that already contributed $910 million in revenue last year. Shares rose over 4% on the announcement, reflecting growing institutional confidence in Coinbase’s regulatory positioning. Analysts highlight the company’s dual role as both a trading venue and a compliance trailblazer, with stablecoins emerging as a predictable revenue stream amid crypto’s volatility. The report underscores a broader trend: policymakers’ focus on dollar-pegged tokens is shifting from existential threats to revenue opportunities for compliant players.

Alabama Drops Case Against Coinbase Amid Crypto Policy Discussions

The Alabama Securities Commission has dropped its lawsuit against Coinbase, marking a procedural retreat in the regulatory scrutiny facing the exchange’s staking program. The withdrawal pares down active state-level cases against Coinbase to five, a shift that underscores the fluid landscape of crypto oversight. Regulators cited evolving policy debates—including the SEC’s new crypto enforcement unit and anticipated staking rules—as the reason for stepping back, though they stressed the move doesn’t signal a softened stance. Legal battles continue elsewhere, with states like California and New Jersey still pursuing claims. The pause offers a breather for Coinbase as federal regulators weigh clearer guidelines for an industry caught between innovation and investor protection.