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Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage and data analytics.

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La Comisión de Bolsa y Valores de Estados Unidos (SEC) ha modificado su denuncia contra el intercambio de criptomonedas Binance. la SEC eliminó la frase “valores de criptoactivos” en su acusación.

SEC ajusta acusación contra Binance y elimina término clave

$BTC

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Coinbase Global Inc. (NASDAQ:COIN), el intercambio de criptomonedas más grande de Estados Unidos, anunció el jueves el lanzamiento de su nuevo token envuelto de Bitcoin (CRYPTO: BTC), llamado cbBTC&lt;

Coinbase introduce cbBTC: el futuro de Bitcoin en la red Ethereum

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El miércoles, Cathie Wood, a la cabeza de Ark Invest, realizó algunas operaciones significativas, siendo las más destacadas las de Coinbase Global Inc (NASDAQ:COIN) y Palantir Technologies Inc (NYSE:

Movimientos clave de Cathie Wood: ¿qué hay detrás de las últimas operaciones de Ark Invest?

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This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SOFI</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$15.00</td>
<td>$469.4K</td>
<td>48.2K</td>
<td>6.5K</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>11/22/24</td>
<td>$305.00</td>
<td>$55.1K</td>
<td>442</td>
<td>2.1K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$72.50</td>
<td>$42.2K</td>
<td>13.1K</td>
<td>2.0K</td>
</tr>
<tr>
<td>JPM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/29/24</td>
<td>$242.50</td>
<td>$34.0K</td>
<td>369</td>
<td>537</td>
</tr>
<tr>
<td>LMND</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/17/25</td>
<td>$37.00</td>
<td>$44.0K</td>
<td>1.0K</td>
<td>415</td>
</tr>
<tr>
<td>FOUR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$110.00</td>
<td>$33.5K</td>
<td>241</td>
<td>242</td>
</tr>
<tr>
<td>BX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/21/25</td>
<td>$200.00</td>
<td>$71.6K</td>
<td>0</td>
<td>204</td>
</tr>
<tr>
<td>AFRM</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$55.00</td>
<td>$43.2K</td>
<td>46</td>
<td>176</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a call option sweep that happens to be bearish, expiring in 421 day(s) on January 16, 2026. This event was a transfer of 1005 contract(s) at a $15.00 strike. This particular call needed to be split into 30 different trades to become filled. The total cost received by the writing party (or parties) was $469.4K, with a price of $464.0 per contract. There were 48240 open contracts at this strike prior to today, and today 6580 contract(s) were bought and sold. 
• Regarding COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we observe a call option trade with bullish sentiment. It expires in 1 day(s) on November 22, 2024. Parties traded 50 contract(s) at a $305.00 strike. The total cost received by the writing party (or parties) was $55.1K, with a price of $1103.0 per contract. There were 442 open contracts at this strike prior to today, and today 2179 contract(s) were bought and sold. 
• Regarding C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we observe a call option trade with bearish sentiment. It expires in 211 day(s) on June 20, 2025. Parties traded 100 contract(s) at a $72.50 strike. The total cost received by the writing party (or parties) was $42.2K, with a price of $422.0 per contract. There were 13181 open contracts at this strike prior to today, and today 2000 contract(s) were bought and sold. 
• For JPM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), we notice a call option sweep that happens to be bearish, expiring in 8 day(s) on November 29, 2024. This event was a transfer of 100 contract(s) at a $242.50 strike. This particular call needed to be split into 4 different trades to become filled. The total cost received by the writing party (or parties) was $34.0K, with a price of $341.0 per contract. There were 369 open contracts at this strike prior to today, and today 537 contract(s) were bought and sold. 
• Regarding LMND (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LMND#NYSE">LMND</a>), we observe a put option trade with neutral sentiment. It expires in 57 day(s) on January 17, 2025. Parties traded 200 contract(s) at a $37.00 strike. The total cost received by the writing party (or parties) was $44.0K, with a price of $220.0 per contract. There were 1003 open contracts at this strike prior to today, and today 415 contract(s) were bought and sold. 
• Regarding FOUR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FOUR#NYSE">FOUR</a>), we observe a call option trade with bullish sentiment. It expires in 57 day(s) on January 17, 2025. Parties traded 50 contract(s) at a $110.00 strike. The total cost received by the writing party (or parties) was $33.5K, with a price of $670.0 per contract. There were 241 open contracts at this strike prior to today, and today 242 contract(s) were bought and sold. 
• Regarding BX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), we observe a put option trade with bearish sentiment. It expires in 92 day(s) on February 21, 2025. Parties traded 47 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $71.6K, with a price of $1525.0 per contract. There were 0 open contracts at this strike prior to today, and today 204 contract(s) were bought and sold. 
• For AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we notice a put option sweep that happens to be bearish, expiring in 211 day(s) on June 20, 2025. This event was a transfer of 48 contract(s) at a $55.00 strike. This particular put needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $43.2K, with a price of $900.0 per contract. There were 46 open contracts at this strike prior to today, and today 176 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AFRM

FOUR

LMND

SOFI

8 Financials Stocks Whale Activity In Today's Session

Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>) co-founder Charles Hoskinson on Thursday named Coinbase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) CEO Brian Armstrong for a potential crypto position at the White House, citing his unique position to bridge the gap between the digital asset <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42091821/could-donald-trumps-potential-treasury-secretary-be-out-of-his-depth-on-crypto-policy-polymarket-traders-just-cant-decide-on-a-favorite">industry and federal regulators.</a>
What Happened: Hoskinson <a href="https://x.com/IOHK_Charles/status/1859312190219862175">emphasized</a> the importance of the role being filled by someone &#8220;neutral&#8221; with a deep understanding of blockchain technology and the challenges posed by existing U.S. regulations.
"There is only one candidate that I think stands out in our industry for this role, and that's Brian Armstrong," Hoskinson wrote. 
He cited Armstrong's leadership at Coinbase, a company that has navigated significant regulatory hurdles, as a testament to his ability to unify the industry and drive meaningful policy reform.
A crypto position, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42098407/donald-trump-reportedly-eyeing-the-first-crypto-focused-role-in-the-white-house">reportedly</a> being considered by President-elect Donald Trump's transition team, would mark the first time a White House role is dedicated exclusively to <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done">cryptocurrency policy</a>.
The position is expected to act as a bridge between the White House, Congress, and federal regulatory agencies, aiming to create a cohesive and supportive regulatory framework for digital assets.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42090657/microstrategy-upsizes-convertible-notes-offering-to-2-6-billion-for-bitcoin-purchases">MicroStrategy Upsizes Convertible Notes Offering To $2.6 Billion For Bitcoin Purchases</a>
Hoskinson's nomination of Armstrong comes as the blockchain industry anticipates major shifts under Trump's administration, which has promised a more <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41770352/bitcoins-future-under-president-elect-donald-trump-a-look-at-his-crypto-policies">crypto-friendly approach</a>.
Trump's campaign pledges included <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41680397/who-will-replace-gary-gensler-the-top-candidates-for-sec-chair-after-the-election">firing SEC Chair Gary Gensler</a>, scaling back regulatory oversight, and creating a presidential advisory council on cryptocurrency.
Hoskinson expressed his belief that Armstrong's experience would enable him to build a "broad tent coalition" to unite the fragmented crypto industry. 
He also announced his own efforts to support the policy framework, revealing plans to meet lawmakers in Washington, D.C., and launch an initiative called Operation Baseline. 
This project will survey the cryptocurrency industry to identify inefficiencies and propose actionable solutions for policymakers.
"The time has come to get this done so that we all can get back to work changing the world," Hoskinson said.
Armstrong, who recently endorsed Trump's newly announced Department of Government Efficiency, is no <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency">stranger to public policy debates. </a>
Armstrong described DOGE as a "once-in-a-lifetime opportunity" to streamline government operations, reduce waste, and enhance economic freedom. 
His vision aligns with blockchain's potential to improve transparency, reduce fraud, and simplify complex bureaucratic processes.
The creation of a crypto role could provide Armstrong with the platform to advocate for initiatives such as blockchain-driven transparency in government and Armstrong's own fiscal policy proposals, including a constitutional amendment to cap government spending.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42086650/robinhood-positioned-as-top-crypto-deregulation-trade-says-bernstein">Robinhood Positioned As Top &#8216;Crypto Deregulation&#8217; Trade, Says Bernstein</a></li>
</ul>
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Coinbase CEO Brian Armstrong 'Stands Out' As Candidate For Donald Trump's Reported 'Crypto Czar' Position, Cardano Co-Founder Says

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<li>MSTR</li>
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<li>CORN</li>
<li>MARA</li>
<li>COIN</li>
<li>SNOW</li>
<li>TSLA</li>
<li>AI</li>
<li>GLD</li>
</ul>
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Trump Team Mulls Creating First-Ever White House Crypto Role

<a href="https://www.webull.com/">Webull</a>, a leading digital investment platform, today announced the expansion of its crypto futures offering with Coinbase Derivatives, LLC (Coinbase Derivatives), a futures exchange registered with the Commodity Futures Trading Commission (CFTC). Webull users in the U.S. will be able to trade futures contracts for Bitcoin (BTI), nano Bitcoin (BIT), Ethereum (ETI), and nano Ether (ET) directly on the Webull platform.
Webull launched futures and commodities trading in March 2024, which expands access and grants users the ability to further diversify their portfolios and manage risk more effectively. Webull will be bringing its advanced trading tools and Coinbase Derivatives' crypto futures offerings together for a seamless experience.

Webull Announces The Expansion Of Its Crypto Futures Offering With Coinbase Derivatives; Users In The U.S. Will Be Able To Trade Futures Contracts For Bitcoin (BTI), Nano Bitcoin (BIT), Ethereum (ETI), And Nano Ether (ET) Directly On The Webull Platform

Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) has been identified as the leading <a href="https://www.benzinga.com/news/events/24/11/42012376/crypto-markets-will-be-empowered-by-balanced-regulatory-approach-expert-says">beneficiary of potential regulatory shifts</a> in the cryptocurrency sector, according to a Bernstein report.
What Happened: The research firm highlighted the brokerage platform as the &#8220;Top &#8216;Crypto Deregulation&#8217; Trade,&#8221; increasing its price target to $51, up from $30, reflecting a 46% upside.
In a note issued on Wednesday, Bernstein attributes Robinhood&#8217;s potential for significant growth to a combination of regulatory changes and a diversified product pipeline. 
&#8220;HOOD's crypto revenues for 2025E have been increased by 20%, driven by new token listings and expanded product offerings,&#8221; the report states.
The company's conservative approach to token listings under <a href="https://www.benzinga.com/news/events/24/11/41992186/could-new-legislation-finally-bring-clarity-to-us-crypto-rules-industry-expert-weighs-in">current SEC constraints</a> is expected to evolve under a <a href="https://www.benzinga.com/24/11/42069770/us-congress-could-set-the-stage-for-broader-crypto-adoption-says-digital-asset-leader">pro-crypto regulatory environment</a>, enabling Robinhood to list more digital assets and introduce services like staking, lending and stablecoins.
Robinhood's share price has surged by approximately 170% year-to-date, and its increasing market share in crypto trading is projected to drive profitability. 
By 2025, the company is expected to achieve earnings exceeding $1.3 billion, supported by operating leverage from its largely fixed cost structure.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42084945/coinbase-ceo-brian-armstrong-backs-doge-initiative-how-blockchain-could-transform-government-efficiency">Coinbase CEO Brian Armstrong Backs DOGE Initiative: How Blockchain Could Transform Government Efficiency</a>
Why It Matters: The report highlights Robinhood&#8217;s cautious but promising entry into new markets.
Currently listing 19 tokens on its U.S. platform, Robinhood lags behind rivals like Coinbase Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), which lists over 250 tokens. 
However, Bernstein expects the brokerage to narrow this gap as the regulatory environment becomes more crypto-friendly. The company <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41945111/pepe-listed-on-robinhood-coinbase-reaches-new-all-time-high-on-44-gain-traders-speculate-about-dogecoin-like-run">recently added tokens</a> like Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) and PEPE (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>), signaling its readiness to capitalize on emerging opportunities.
"Robinhood is set to introduce a broader suite of crypto products, including value-added services like staking and stablecoins," the report highlights, adding that the firm&#8217;s acquisition of Bitstamp and its EU crypto platform further solidify its position in the evolving market.
Robinhood has demonstrated strong financial metrics in 2024, with assets under custody (AUC) growing over 50% year-to-date to $160 billion and a 51% month-over-month increase in crypto trading volumes for October. 
Bernstein anticipates that Robinhood's crypto revenues will grow to represent 38% of its total revenues by 2025, a significant leap from 7% in 2023.
"We expect Robinhood to benefit disproportionately from crypto regulatory tailwinds, with 2025 marking an inflection point for earnings growth and market positioning,&#8221; the report further states.
Read Next:
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42071163/blackrock-spot-bitcoin-etf-options-on-nasdaq-rack-up-9-figure-trading-volume-in-first-few-hours-seems-very-bullish-says-analyst">BlackRock Spot Bitcoin ETF Options On Nasdaq Rack Up 9-Figure Trading Volume In First Few Hours: &#8216;Seems Very Bullish,&#8217; Says Analyst</a></li>
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$PEPE

HOOD

Robinhood Positioned As Top 'Crypto Deregulation' Trade, Says Bernstein

Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) CEO Brian Armstrong has expressed strong support for the newly established Department of Government Efficiency, viewing it as a pivotal opportunity to enhance <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42035165/coinbase-ceo-brian-armstrong-says-doge-department-is-a-once-in-a-lifetime-opprtunity-advocates-abolishing-individual-income-tax">economic freedom in the United States. </a>
What Happened: In a recent <a href="https://x.com/brian_armstrong/status/1858023954776207730">post</a> on X (formerly Twitter), Armstrong described DOGE as a &#8220;once-in-a-lifetime opportunity&#8221; to streamline government operations and reduce its size.
The <a href="https://www.benzinga.com/startups/24/11/42069236/trump-tasked-elon-musk-to-oversee-government-efficiency-heres-how-musk-has-streamlined-costs-at-his-own-companies">Department of Government Efficiency</a> was announced by President Donald Trump on Nov. 13, with Elon Musk appointed to lead the initiative.
The department aims to <a href="https://www.benzinga.com/news/24/11/41965420/elon-musk-vivek-ramaswamy-led-department-of-government-efficiency-opens-account-on-x-says-it-is-working-overtime">optimize federal operations</a> by reducing waste, cutting unnecessary regulations and restructuring agencies to improve efficiency.
Armstrong&#8217;s endorsement of DOGE aligns with his broader vision of increasing economic freedom and reducing governmental overreach. 
He has proposed significant fiscal reforms, including a constitutional amendment to cap government spending at 10% of the Gross Domestic Product (GDP). 
Additionally, Armstrong suggests the creation of a U.S. sovereign wealth fund, where citizens would hold shares and receive dividends from budget surpluses, thereby giving every citizen a stake in the nation&#8217;s financial health.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42072663/bitcoin-etf-options-could-smooth-volatility-become-available-on-robinhood-soon-expert-says">Bitcoin ETF Options Could Smooth Volatility, Become Available On Robinhood Soon, Expert Says</a>
Why It Matters: The establishment of DOGE and Armstrong&#8217;s proposals <a href="https://www.benzinga.com/news/global/24/11/42054220/economics-professor-doubts-impact-of-dogecoin-inspired-elon-musk-led-department-on-federal-deficit-cites-this-as-major-concern">have sparked discussions</a> about the role of blockchain technology and cryptocurrencies in government operations.
Blockchain&#8217;s potential to enhance transparency, reduce fraud and streamline processes could be instrumental in achieving the department&#8217;s objectives.
For instance, blockchain can provide immutable records of transactions, which is beneficial for auditing and compliance purposes.
Armstrong&#8217;s advocacy for DOGE reflects a growing trend among tech leaders to influence public policy and governance. 
By leveraging technological advancements, there is potential to create a more efficient and accountable government structure. 
The collaboration between government entities and private sector innovators like Armstrong and Musk could pave the way for transformative changes in how government services are delivered and managed.
As DOGE begins its operations, the integration of blockchain technology and the adoption of Armstrong&#8217;s fiscal proposals will be closely monitored. 
The success of this initiative could set a precedent for other nations seeking to modernize their governmental frameworks through technology and <a href="https://www.benzinga.com/news/24/11/42026862/musk-and-ramaswamy-seek-spending-cut-wins-where-others-failed">innovative economic policies</a>.
Read Next: 
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<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42071904/blackrock-sees-renewed-sense-of-optimism-around-bitcoin">BlackRock Sees &#8216;Renewed Sense Of Optimism&#8217; Around Bitcoin</a></li>
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Image: Shutterstock

Coinbase CEO Brian Armstrong Backs DOGE Initiative: How Blockchain Could Transform Government Efficiency

Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) announced plans to remove Wrapped Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">WBTC</a>) from its trading platform, citing &#8220;listing standards,&#8221; with trading suspension scheduled for Dec. 19.
What Happened: The move follows the <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40829437/coinbase-launches-cbbtc-bridging-bitcoin-to-ethereum-and-base-networks">cryptocurrency exchange&#8217;s recent launch</a> of its own wrapped Bitcoin product, cbBTC, on the Base blockchain.
&#8220;We have moved our wBTC order books to limit-only mode. Limit orders can be placed and canceled, and matches may occur,&#8221; the exchange said on X.
Wrapped Bitcoin, introduced in January 2019, is an ERC-20 token that represents Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) on the Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) blockchain, maintaining a 1:1 peg with Bitcoin&#8217;s value.
The Wrapped Bitcoin protocol ensures that each wBTC token is backed by an equivalent amount of Bitcoin through a network of merchants and custodians. This system allows users to transfer liquidity between Bitcoin and Ethereum networks in a decentralized manner, making it a vital bridge between the two largest cryptocurrency ecosystems.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We regularly monitor the assets on our exchange to ensure they meet our listing standards. Based on our most recent review, Coinbase will suspend trading for wBTC (wBTC) on December 19, 2024, on or around 12pm ET.
&mdash; Coinbase Assets &#x1f6e1;&#xFE0F; (@CoinbaseAssets) <a href="https://twitter.com/CoinbaseAssets/status/1858921827159945638?ref_src=twsrc%5Etfw">November 19, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The token, developed by BitGo, enables Bitcoin holders to participate in Ethereum&#8217;s decentralized finance (DeFi) ecosystem.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42082077/if-you-bought-bitcoin-at-387-a-decade-ago-you-would-now-have-more-than-2x-the-average-us-retirement-savings">If You Bought Bitcoin At $387 A Decade Ago, You Would Now Have More Than 2X The Average US Retirement Savings</a>
Why It Matters: Market data <a href="https://coinmarketcap.com/currencies/wrapped-bitcoin/">according</a> to CoinMarketCap shows Wrapped Bitcoin trading at $92,645.57, marking a 1.15% increase over the past 24 hours and a significant 149.29% gain over the past year. The token maintains a 24-hour trading volume of $517.86 million.
Wrapped tokens have become increasingly important in the cryptocurrency ecosystem, allowing assets to operate across different blockchains. Coinbase&#8217;s decision to launch cbBTC signals growing competition in the wrapped token market, as major exchanges develop proprietary solutions for cross-chain Bitcoin transactions.
See Also: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42073345/bitcoin-crosses-94000-for-new-all-time-high-dogecoin-back-at-0-40-ethereum-flat-short-term-price-action-unpredictable-say-analysts">Bitcoin Crosses $94,000 For New All-Time High, Dogecoin Back At $0.40, Ethereum Flat: &#8216;Short-Term Price Action Unpredictable,&#8217; Say Analysts</a></li>
</ul>
Image via Flickr
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

$WBTC

Coinbase To Delist Wrapped Bitcoin On This Date, Citing 'Listing Standards'

Entrepreneur Anthony Pompliano expects more cryptocurrency companies to go public and or get acquired now that a new pro-crypto administration is in <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41403206/bitcoin-is-the-simplest-story-in-finance-will-climb-regardless-of-election-winner-says-ant">the White House.</a>
Coinbase a Winner: Pompliano compared Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) to iPhone maker Apple during a discussion at the<a href="https://www.benzinga.com/digital-assets"> 2024 Benzinga Future of Digital Assets </a>conference.
"Coinbase has something that can't be bought, they have trust," Pompliano said.
Pompliano, an investor in Coinbase, highlighted the company as one of the last big crypto IPOs. In his opinion, Coinbase does right by people, has a product that people love and has grown by word of mouth. With new investors getting interested in crypto, Coinbase has <a href="https://www.thestreet.com/crypto/markets/coinbase-app-climbs-in-ranking-after-trumps-win-and-bitcoin-shatters-records">become</a> the number one app in the app store again thanks to its brand awareness.
Pompliano said that while Apple may not have the best phone in the world, the company's brand and connected network of products make the iPhone a strong seller.
"Coinbase is putting together a brand of products," he said.
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41916359/bitcoin-is-the-decentralized-king-says-anthony-pompliano-whose-100000-price-prediction-is-close-to-coming-true">Bitcoin Is The &#8216;Decentralized King,&#8217; Says Anthony Pompliano, Whose $100,000 Price Prediction Is Close To Coming True</a>
IPOs and M&amp;A: Pompliano expects the cryptocurrency sector to power a renaissance of IPOs. Young investors, for years wanted to be angel investors and deal with illiquid stakes in companies and investments, Pompliano said.
Crypto is all about liquidity and a new generation of crypto investors realizes the value of liquidity, he added.
Pompliano said right now more companies are going private than public and there are around 4,000 public companies, down from 8,000 in the 1990s.
"The progression into public is going to happen in general," Pompliano said.
The investor also predicts that M&amp;A activity will pick up in the cryptocurrency sector as some companies aren't sustainable. Companies in some cases have built cool products, but don't have a good business model, he added.
Moderator MacKenzie Sigalos of CNBC and Pompliano also discussed the fact that Circle has been wanting to go public for a long time.
Pomplinao said the long-time question is if the government will have too big of an interest in Circle as the largest owner of USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>). If Circle goes public it could become more valuable and the bad thing is the company could get too big, Pompliano added.
Coincheck, a Japanese cryptocurrency exchange <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38698334/japanese-crypto-exchange-coincheck-to-list-on-nasdaq-listing-via-spac-merger">going public via SPAC merger</a> with Thunder Bridge Capital Partners IV (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/THCP#NASDAQ">THCP</a>), was also used to illustrate the potential change in crypto companies getting approval to go public.
What's Next: Pompliano said Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) is the only asset in the world that the higher it goes, the less risky it becomes.
He added that institutions are continuing to become more attracted to Bitcoin as they are subject to FOMO (fear of missing out) just like retailer investors.
"I don't think you've seen anything yet," Pompliano said on institutional interest in Bitcoin.
Pompliano said that, for institutions, the final boss level is when they get their own cryptocurrency custody &#8212; something he predicts could happen in the next 24 months.
The investor also said Tuesday that the United States <a href="https://www.benzinga.com/news/events/24/11/42071064/exclusive-anthony-pompliano-calls-for-us-to-buy-250b-bitcoin-on-day-1-of-trump-administration-protect-our-future-its-such-a-no-brainer">should buy $250 billion</a> in Bitcoin for its strategic reserves.
Pompliano said that while global currencies have often been put into place after violent conflicts are completed, Bitcoin will rise and become a reserve currency without dropping bombs.
Price Action: Bitcoin trades at $92,517.23 at the time of writing, up 1% over the last 24 hours and up 6% over the last week. Bitcoin hit an all-time high of $93,434.26 on Nov. 13.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41274733/in-2022-bitcoin-helped-to-humble-anthony-pompliano-a-look-at-how-his-price-predictions-hav">In 2022, Bitcoin &#8216;Helped To Humble&#8217; Anthony Pompliano: A Look At How His Price Predictions Have Evolved</a></li>
</ul>
Image: Shutterstock

Events

Exclusives

$USDC

THCP

EXCLUSIVE: Bitcoin Advocate Anthony Pompliano Says Coinbase Is Similar To Apple, 'Has Something That Can't Be Bought'

Gregg Wysocki, senior manager of US Hedge Fund Sales at Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), shared his excitement for the future of digital asset adoption heading into a new era and <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42052797/trump-and-coinbase-ceo-brian-armstrong-reportedly-in-talks-over-cabinet-appointments">regulatory environment.</a>
The Details: Wysocki pointed to regulation as the key to large institutional adoption and investment in cryptocurrency.
"Regulation unlocks everything," Wysocki said at Benzinga's <a href="https://www.benzinga.com/digital-assets">Future of Digital Assets</a> event.
The Coinbase senior manager said regulation provides "rules of the road" which allows institutional investors to trade and own digital assets by identifying and managing risk. He said the biggest risks are those that are unknown and unidentified.
Read More: <a href="https://www.benzinga.com/etfs/24/11/42044642/trump-appears-frustrated-as-elon-musk-chimes-in-on-treasury-secretary-adds-more-names-to-a-list-of-potential-picks">Trump Appears &#8216;Frustrated&#8217; As Elon Musk Chimes In On Treasury Secretary, Adds More Names To Short List&nbsp;</a>
Some of the guardrails required for institutional-level investments in the crypto markets, include:
<ul>
<li>Investor protection measures</li>
<li>Anti-money laundering (AML) protocols</li>
<li>Know-your-customer (KYC) protocols</li>
<li>Standardized reporting and transparency requirements.</li>
</ul>
President-elect Donald Trump met with Coinbase&#8217;s CEO Brian Armstrong on Monday to <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42052797/trump-and-coinbase-ceo-brian-armstrong-reportedly-in-talks-over-cabinet-appointments">discuss potential cabinet </a>appointments that could have major effects on the future of U.S. crypto regulation.
Wysocki noted that through increasing regulation institutions will be able to be involved in an expanded crypto market, extending past Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>). Institutional investors bring substantial capital to the crypto market, which can increase liquidity and stability for all investors in the market.
He also highlighted regulation as enhancing the crypto market structure by bringing it closer to the standards of traditional financial markets while preserving the benefits of blockchain technology.&nbsp; Improved market structure can help attract institutional investors, ensure market stability and foster the long-term growth and adoption of cryptocurrencies.
"It's a very bullish backdrop from where I sit," Wysocki told the panel in closing.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/movers/24/11/41949068/bitcoin-could-reach-1-million-by-2037-economist-says-buy-of-a-lifetime-opportunity">Bitcoin Could Reach $1 Million By 2037, Economist Says: &#8216;Buy Of A Lifetime&#8217; Opportunity</a></li>
</ul>
Image: Shutterstock

Fintech news covering the emerging Financial Technology services sector

Fintech

Movers

Coinbase Hedge Fund Manager Sees Bright Crypto Future, 'Regulation Unlocks Everything'

On CNBC's &#8220;Mad Money Lightning Round,&#8221; Jim Cramer said Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) is a buy. &#8220;This stock is as hated now as it was loved not that <a href="https://www.benzinga.com/markets/equities/24/11/42039286/eli-lillys-zepbound-mounjaro-shows-cardiovascular-benefits-in-patients-with-obesity-related-heart-failure">long ago,&#8221; he added</a>.
Eli Lilly on Monday said Muvalaplin met secondary endpoints for <a href="https://www.benzinga.com/pressreleases/24/11/n42047055/lillys-muvalaplin-lowered-lipoprotein-a-levels-in-adults-with-high-risk-for-cardiovascular-events-">all three tested doses.</a>
Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) is a &#8220;winner,&#8221; Cramer said.
On Monday, Needham analyst John Todaro maintained Coinbase with a Buy and raised the price target from $290 to $375.
Cramer said IES Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IESC#NASDAQ">IESC</a>) is a &#8220;terrific&#8221; infrastructure play.
IES Holdings will release fiscal 2024 fourth quarter and year-end results before the opening bell on Friday, Nov. 22.
&#8220;I do think that Semtech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMTC#NASDAQ">SMTC</a>) is just a traditional kind of semiconductor company,&#8221; Cramer said. He added that he prefers Texas Instruments Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>) to that one.
Semtech will release the financial results of its third quarter of fiscal year 2025 after the closing bell on Monday, Nov. 25.
&#8220;It is an incredibly expensive stock versus the rest of the market,&#8221; Cramer said when asked about Cameco Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCJ#NYSE">CCJ</a>). &#8220;I am a ‘ka-ching ka-ching' when it comes to Cameco.&#8221;
On Nov. 7, Cameco raised its FY24 revenue guidance.
The &#8220;Mad Money&#8221; host said he likes Marvell Technology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRVL#NASDAQ">MRVL</a>).
Marvell Technology will release its third-quarter fiscal year 2025 financial results on Tuesday, Dec. 3, followed by a conference call to discuss the results.
Cramer said own Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and not trade it. &#8220;I would wait for a dip because the bears are all over it every minute of the day. Keep that in mind, and then pull the trigger,&#8221; he added.
A consumer group called &#8220;Which?&#8221; recently filed a £3 billion ($3.81 billion) legal claim against Apple, accusing the tech giant of breaching UK competition law <a href="https://www.benzinga.com/news/global/24/11/41964915/apple-faces-legal-action-over-rip-off-icloud-charges-could-pay-out-38b-to-uk-customers">through its iCloud service</a>.
Price Action:
<ul>
<li>Eli Lilly shares fell 2.6% to settle at $727.20 on Monday.</li>
<li>Apple shares gained 1.3% to close at $228.02.</li>
<li>Coinbase shares gained 6.4% to close at $325.41.</li>
<li>IES shares climbed 2.6% to settle at $264.67 during the session.</li>
<li>Semtech shares gained 3.9% to close at $45.84 on Monday.</li>
<li>Cameco shares gained 4.3% to settle at $55.90 during the session.</li>
<li>Marvell shares gained 1% to close at $88.71 on Monday.</li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/trading-ideas/long-ideas/24/11/42035732/jim-cramer-super-group-basic-materials-stock-is-very-hard-to-own-here">Jim Cramer: Super Group Finally &#8216;Broke Out,&#8217; This Basic Materials Stock Is &#8216;Very Hard To Own Here&#8217;</a></li>
</ul>
Photo: Shutterstock

Long Ideas

Media

AAPL

IESC

MRVL

SMTC

Jim Cramer: Coinbase Is A 'Winner,' Suggests Buying This 'Hated' Big Pharma Stock

<a href="https://www.benzinga.com/digital-assets/livestream" title="https://www.benzinga.com/digital-assets/livestream">https://www.benzinga.com/digital-assets/livestream</a>

Coinbase Senior Manager, US Hedge Fund Sales Gregg Wysocki Says Regulations Unlocks Everyhting, Allows Institutional Investors To Trade And Own Assets Outside Of Bitcoin And Ethereum; Needed For Institutions To Be Involved; Stable Coins Are At A Place That Now Have Mass Adoption, Cross-Border Transactions; Crypto As A New Part Of Capital Structure; Risk I See Is We Go Up Too Fast; Very Bullish Backdrop

Coinbase Senior Manager, US Hedge Fund Sales Gregg Wysocki On Positioning For 2025 Says Bitcoin Led This Rally Tells You Very Much It Has Been Institutional Driven Move; Clearly Big ETF Influence; Clear Case For Institutional Investors; As We Get More Regulation More ETFs, You Will See More Involvement; [Bitcoin] Now Seventh Largest Macro Asset; Bitcoin And Where It Fits Is Being Increasingly Tough To Debate Other Side Of It; Today Everyone Has To Have A View Of Blockchain And Crypto

Coinbase Senior Manager, US Hedge Fund Sales Gregg Wysocki Says The Whole Idea Is To Make This Interoperate; Coinbase Is Working Really Hard To Have A Username Similar To An Email Address And for It To Be Totally Operable With Anyone Around The World And Ability To Transfer Value From One To Another; Going To Be Next Step And Getting Crystalized For Rest Of The World; We're Going To Reach A Point We're Not Going To Talk About Engineering Behind Each Of Blockchains

<a href="https://www.benzinga.com/digital-assets/livestream" title="https://www.benzinga.com/digital-assets/livestream">https://www.benzinga.com/digital-assets/livestream</a>
<a href="https://www.benzinga.com/digital-assets/livestream" title="https://www.benzinga.com/digital-assets/livestream">https://www.benzinga.com/digital-assets/livestream</a>

Coinbase Senior Manager, US Hedge Fund Sales Gregg Wysocki On State Of Asset Adoption Says I'd Say Pretty Bullish Right Now

President-elect Donald Trump was discussing potential cabinet appointments with Brian Armstrong, the CEO of cryptocurrency exchange platform Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), in a closed-door meeting Monday
What Happened: The conversation would focus on cabinet and senior post appointments as Trump shapes his second administration, The Wall Street Journal <a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-11-18-2024/card/exclusive-trump-to-meet-privately-with-coinbase-ceo-brian-armstrong-DDkgF0xW1BW242rVeuqx">reported</a>, citing sources familiar with the matter. 
Coinbase didn&#8217;t immediately return Benzinga&#8217;s request for a comment. 
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42034692/dogecoin-killer-shiba-inu-burn-rate-skyrockets-6223-what-is-going-on?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump Digs Deeper Into Cryptocurrency? B</a><a href="https://www.benzinga.com/general/social-media/24/11/42048594/trump-digs-deeper-into-cryptocurrency-bakkt-shares-soar-on-reported-interest-from-president-elects-media-company">akkt Shares Soar On Reported Interest From President-Elect&#8217;s Media Company</a>
Speculations pointed to Armstrong&#8217;s presence in <a href="https://www.benzinga.com/markets/cryptocurrency/24/07/40001426/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done" target="_blank" rel="noreferrer noopener">Trump's cryptocurrency presidential advisory council</a>, which was mentioned as part of his election promise earlier this year.
The meeting comes at a time when the cryptocurrency industry increasingly looks forward to a supportive federal government under Trump, who pledged various <a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40179714/trumps-bitcoin-stockpile-plan-would-have-positive-impact-on-crypto-prices-but-would-leave-">pro-cryptocurrency initiatives</a> during the election campaign.
Why It Matters: Armstrong welcomed what he called &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41450334/there-has-never-been-a-more-pro-crypto-congress-than-the-next-one-heres-why" target="_blank" rel="noreferrer noopener">America&#8217;s most pro-crypto Congress ever</a>,&#8221; noting that over 219 pro-cryptocurrency candidates were elected to the House and Senate.
Coinbase&#8217;s top executive has been vocal about his vision for reducing government size and enhancing economic freedom, <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42035165/coinbase-ceo-brian-armstrong-says-doge-department-is-a-once-in-a-lifetime-opprtunity-advocates-abolishing-individual-income-tax">praising the idea</a> of a Department of Government Efficiency, or DOGE, under Elon Musk and Vivek Ramaswamy.
There have also been speculations about Charles Hoskinson, the co-founder of Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41853924/cardano-up-13-as-speculation-around-charles-hoskinson-as-trump-crypto-policy-advisor-bubbles">potentially serving as a cryptocurrency policy advisor</a> in the Trump administration.
Price Action: Shares of Coinbase were down 0.74% in after-hours trading after closing up 6.40% on Monday, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42049664/paul-tudor-jones-boosts-bitcoin-holdings-potentially-making-btc-his-largest-non-options-investment">Paul Tudor Jones Boosts Bitcoin Holdings, Potentially Making BTC His Largest Non-Options Investment</a></li>
</ul>

Trump And Coinbase CEO Brian Armstrong Reportedly In Talks Over Cabinet Appointments

<a href="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-11-18-2024/card/exclusive-trump-to-meet-privately-with-coinbase-ceo-brian-armstrong-DDkgF0xW1BW242rVeuqx?page=1" title="https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-11-18-2024/card/exclusive-trump-to-meet-privately-with-coinbase-ceo-brian-armstrong-DDkgF0xW1BW242rVeuqx?page=1">https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-11-18-2024/card/exclusive-trump-to-meet-privately-with-coinbase-ceo-brian-armstrong-DDkgF0xW1BW242rVeuqx?page=1</a>

'Coinbase Doled Out More Than $100M To Political Action Committees Before Election; President Trump To Meet Privately With Coinbase CEO Brian Armstrong' - WSJ

WIIM

Coinbase shares are trading higher after Needham maintained a Buy rating on the stock and raised its price target from $290 to $375.

Robinhood Markets Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) shares are trading higher Monday. Needham upgraded the stock to Buy as the firm believes the company stands to materially benefit from Donald Trump&#8217;s <a href="https://www.benzinga.com/general/social-media/24/11/41912771/trump-presidency-magnificent-7-stock-impact-benzinga-readers-pick-tech-titan-at-most-risk-following-2024-election">election win</a>.
What To Know: Needham analyst John Todaro upgraded Robinhood from <a href="https://www.benzinga.com/analyst-stock-ratings">Hold to Buy</a> on Monday and set a price target of&nbsp;$40, citing tailwinds from Trump&#8217;s return to the White House primarily due to changes at the U.S. Securities and Exchange Commission. 
The Needham analyst expects SEC chair Gary Gensler to <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41993524/gary-gensler-hints-at-ending-his-stint-as-sec-chair-defends-crypto-regulation-agenda">resign</a> in the coming weeks as Trump turns to a more pro-crypto chairperson. Gensler is known for his tough regulatory approach to crypto markets.
&#8220;On the back of this, we expect HOOD to significantly expand its crypto product offering and capture low-hanging fruit,&#8221; Todaro said in a note to clients.
Robinhood has historically limited its crypto offerings in an effort to avoid SEC enforcement actions, but the Needham analyst believes Robinhood will ramp up offerings to more closely compete with Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) if a new SEC chair is nominated. 
Robinhood <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/41945111/pepe-listed-on-robinhood-coinbase-reaches-new-all-time-high-on-44-gain-traders-speculate-about-dogecoin-like-run">added four new cryptos</a> to the platform last week including Pepe, Solana, Cardano and XRP. Two of the coins were delisted in 2023 following SEC actions. 
&#8220;We believe this move represents the first of many whereby HOOD will increase its tradable assets. Additionally, we envision the company will launch other products outside trading, including in staking,&#8221; Todaro said. 
See Also: <a href="https://www.benzinga.com/insights/analyst-ratings/24/11/42034455/forecasting-the-future-20-analyst-projections-for-robinhood-markets">Forecasting The Future: 20 Analyst Projections For Robinhood Markets</a>
The Needham analyst is also anticipating a retail-driven bull market for crypto. Just as the stock market has meme stocks, the crypto market has meme coins, the analyst said. The difference is that meme coins make up a much larger part of the overall crypto market than meme stocks do for the overall equity market. Todaro expects Robinhood to be an early mover in the listing of meme coins and other coins that retail traders find appealing, he said. 
Finally, Todaro highlighted Robinhood&#8217;s diversified offerings for consumers. The company&#8217;s one-stop shop appeal will help the company capture share as retail investors come back into markets and interest rates fall, he said. 
Robinhood&#8217;s diversified offerings make for a less volatile revenue profile spanning equity, futures, options, margin, crypto and more. The company&#8217;s diversification will help it remain profitable during bull and bear markets, the analyst said. 
&#8220;We view our prior crypto estimates as overly conservative after HOOD added four new crypto assets for trading, and seems poised to launch more. For broader crypto markets, we view 2021 as the closest analog for 2025, a period when bitcoin bull market strength cascaded into &#8216;alt season&#8217; whereby alt coin valuations and trading activity skyrocketed,&#8221; Todaro said. 
&#8220;Our estimates, notably, are still significantly lower than 2021 levels representing additional upside to our estimates if 2025 has a similar run.&#8221;
Needham&#8217;s $40 price target is based on an EV/Revenue multiple of 10.5 times 2025 estimates. The multiple primarily reflects Robinhood&#8217;s crypto leverage and competitive positioning as a one-stop shop for all things financial services.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/11/42035953/as-congress-turns-pro-crypto-will-stablecoin-be-high-on-the-agenda">As Congress Turns Pro-Crypto, Will Stablecoin Be High On The Agenda?</a>
HOOD Price Action: <a href="http://benzinga.com/quote/hood">Robinhood shares</a> were up 6.43% at $34.72 at the time of publication, according to <a href="http://pro.benzinga.com">Benzinga Pro</a>.
Photo: Shutterstock.

Upgrades

Price Target

Robinhood Analyst Sees Tailwinds Following Trump's Election Win, Shares Surge

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Needham boosted the price target for Coinbase Global, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) from $290 to $375. Needham analyst John Todaro maintained a Buy rating. Coinbase shares closed at $305.85 on Friday. <a href="https://www.benzinga.com/quote/COIN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>HC Wainwright &amp; Co. boosted the price target for Syndax Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNDX#NASDAQ">SNDX</a>) from $49 to $51. HC Wainwright &amp; Co. analyst Edward White maintained a Buy rating. Syndax Pharmaceuticals shares closed at $15.83 on Friday. <a href="https://www.benzinga.com/quote/SNDX/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Morgan Stanley cut Hyatt Hotels Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>) price target from $160 to $153. Morgan Stanley analyst Stephen Grambling maintained an Equal-Weight rating. Hyatt shares settled at $152.94 on Friday. <a href="https://www.benzinga.com/quote/H/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>HC Wainwright &amp; Co. cut Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) price target from $18 to $5. HC Wainwright &amp; Co. analyst Amit Dayal maintained a Buy rating. Plug Power shares closed at $1.87 on Friday. <a href="https://www.benzinga.com/quote/PLUG/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham boosted Bel Fuse Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BELFB#NASDAQ">BELFB</a>) price target from $79 to $95. Needham analyst James Ricchiuti maintained a Buy rating. Bel Fuse shares closed at $74.56 on Friday.  <a href="https://www.benzinga.com/quote/BELFB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird boosted Roku, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) price target from $70 to $90. Baird analyst Vikram Kesavabhotla upgraded the stock from Neutral to Outperform. Roku shares closed at $68.87 on Friday. <a href="https://www.benzinga.com/quote/ROKU/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird boosted the price target for Autodesk, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADSK#NASDAQ">ADSK</a>) from $305 to $330. Baird analyst Joe Vruwink maintained an Outperform rating. Autodesk shares settled at $299.15 on Friday. <a href="https://www.benzinga.com/quote/ADSK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keefe, Bruyette &amp; Woods boosted MBIA Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MBI#NYSE">MBI</a>) price target from $6.5 to $9. Keefe, Bruyette &amp; Woods analyst Thomas McJoynt-Griffith upgraded the stock from Market Perform to Outperform. MBIA shares closed at $6.03 on Friday. <a href="https://www.benzinga.com/quote/MBI/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities cut the price target for PepGen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEPG#NASDAQ">PEPG</a>) from $10 to $6. B of A Securities analyst Tazeen Ahmad maintained a Neutral rating. PepGen shares closed at $4.12 on Friday. <a href="https://www.benzinga.com/quote/PEPG/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Keefe, Bruyette &amp; Woods boosted Assured Guaranty Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGO#NYSE">AGO</a>) price target from $92 to $105. Keefe, Bruyette &amp; Woods analyst Thomas McJoynt-Griffith maintained an Outperform rating. Assured Guaranty shares closed at $91.02 on Friday. <a href="https://www.benzinga.com/quote/AGO/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying ROKU stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="561" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18082358/image-184-1024x561.png" alt="" class="wp-image-652910" style="width:601px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18082358/image-184-1024x561.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18082358/image-184-300x164.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18082358/image-184-768x421.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/11/18082358/image-184.png 1206w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Pre-Market Outlook

Analyst Ratings

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PEPG

PLUG

ROKU

SNDX

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