Coinbase Global Option Alert: Apr 11 $230 Puts at the Bid: 159 vs 221 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Apr 11 $230 Puts at the Bid: 159 @ $57.29 vs 221 OI; Earnings 5/1 After Close [est] Ref=$172.5

Coinbase Global Option Alert: Sep, 2026 $175 Puts at the Bid: 100 vs 17 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Sep, 2026 $175 Puts at the Bid: 100 @ $51.7 vs 17 OI; Earnings 5/1 After Close [est] Ref=$173.0

Coinbase Global Option Alert: Apr 17 $180 Puts Sweep (8) near the midpoint: 342 vs 4416 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Apr 17 $180 Puts Sweep (8) near the midpoint: 342 @ $15.875 vs 4416 OI; Earnings 5/1 After Close [est] Ref=$170.895

Coinbase Global Option Alert: Jun 20 $185 Puts at the Bid: 250 vs 1138 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Jun 20 $185 Puts at the Bid: 250 @ $22.5 vs 1138 OI; Earnings 5/1 After Close [est] Ref=$184.2808

Coinbase Global Option Alert: Dec 19 $310 Calls at the Bid: 500 vs 965 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Dec 19 $310 Calls at the Bid: 500 @ $13.7 vs 965 OI; Earnings 5/1 After Close [est] Ref=$185.3

Coinbase Global Option Alert: Sep 19 $190 Puts at the Bid: 250 vs 357 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Sep 19 $190 Puts at the Bid: 250 @ $32.8 vs 357 OI; Earnings 5/1 After Close [est] Ref=$188.08

Coinbase Global Option Alert: Jan 16 $240 Calls Sweep (11) near the Ask: 231 vs 667 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Jan 16 $240 Calls Sweep (11) near the Ask: 231 @ $36.5 vs 667 OI; Earnings 5/1 After Close [est] Ref=$200.0899

Coinbase Global Option Alert: Apr 17 $200 Puts at the Bid: 1000 vs 3481 OI; Earnings 5/1 After Close [est] 

Coinbase Global Option Alert: Apr 17 $200 Puts at the Bid: 1000 @ $11.71 vs 3481 OI; Earnings 5/1 After Close [est] Ref=$201.1975

Coinbase Global (NASDAQ:COIN) Bolsa

COINBASE GLOBAL INC -CLASS A

Coinbase Glb

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.

Cathie Wood's Wednesday Moves: Ark Pours $1.36 Million Into Tempus AI Shares Following Deep 6 AI Acquisition, Offloads Rocket Lab Stock

Equities

News

Markets

ETFs

General

$BTC

ARKK

COIN

HOOD

El jueves, Ark Invest de Cathie Wood realizó importantes intercambios, centrándose en la adquisición de acciones de Robinhood Markets Inc (NASDAQ:HOOD), Coinbase Global Inc (NASDAQ:COIN

Ark Invest apuesta por Robinhood (HOOD), Coinbase (COIN) y Tempus AI (TEM)

Usa,President,Donald,Trump,On,Smartphone,And,Stock,Image,In

Fintech news covering the emerging Financial Technology services sector

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Movers

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MSTR

TSLA

Las acciones de las “MAGA Seven” fueron duramente golpeadas en el desplome del mercado del lunes, ya que las expectativas de progreso en las criptomonedas disminuyeron, junto con la pérdida de los ganadores de Trump.

Caída de las &#34;MAGA Seven&#34;: ¿Qué está pasando en el mercado?

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

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$SOL

$XRP

Olvida la montaña rusa de Bitcoin (CRYPTO: BTC) – los traders de criptomonedas ya están apostando por las próximas palabras del presidente Donald Trump.

Trump prepara su discurso en la Cumbre Cripto de la Casa Blanca: IA y criptomonedas en el foco

Coinbase Global, Inc. - Class A Common Stock

Coinbase Global Inc

Coin Citadel

Coin98 - United States Dollar

CoinEx Token

CoinLoan

CoinMerge (BEP-20)

CoinPoker

COINSHARES INTL LTD by Coinshares International Limited

CoinShares International Ltd

CoinShares Valkyrie Bitcoin Futures Leveraged Strategy ETF

CoinShares Valkyrie Bitcoin Miners ETF

CoinShares Valkyrie Bitcoin and Ether Strategy ETF

CoinSmart Financial Inc

Coinbase Wrapped Staked ETH - United States Dollar

Coincheck Group NV

Coinshares Valkyrie Bitcoin Fund

COINSILIUM GROUP LTD ORD by Coinsilium Group Ltd.

Coinsilium Group Ltd

On Friday, April 4, 2025, Cathie Wood-led Ark Invest made substantial trades involving several prominent companies including Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), CRISPR Therapeutics AG (NGM: CRSP), Beam Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>), UiPath Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PATH#NYSE">PATH</a>), Roblox Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>), MercadoLibre Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>), and Repare Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RPTX#NASDAQ">RPTX</a>).
The COIN Trade
Ark Invest purchased shares of Coinbase Global Inc across multiple ETFs. Ark Invest&#8217;s ARK Fintech Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#NYSE">ARKF</a>) bought 12,187 shares, while the ARK Innovation ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#NYSE">ARKK</a>) and ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) funds added 54,988 and 15,982 shares, respectively.
The total value of the COIN shares bought, calculated from the last closing price of $160.55, amounts to approximately $13.5 million.
The AMZN Trade
Amazon.com Inc also saw significant buying action from Ark Invest. The ARKF, ARKK, and ARK Autonomous Technology &amp; Robotics ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKQ#BATS">ARKQ</a>) funds bought 9,018, 25,528, and 8,408 shares, respectively.
Given Amazon&#8217;s last closing price of $171.0, the total value of the shares bought is approximately $7.4 million.
The CRSP and BEAM Trades
The ARKK fund bought 69,011 shares of CRISPR Therapeutics AG and 142,713 shares of Beam Therapeutics Inc. Based on the last closing prices of $32.65 and $15.2,7, respectively, the total value of the CRSP and BEAM shares bought is approximately $3.5 million.
The PATH Trade
Ark Invest's ARKK sold 448,505 shares of UiPath, while ARKQ sold 147,575 shares. The ARK Next Generation Internet ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#NYSE">ARKW</a>) fund sold 323,575 shares, and the ARKF fund sold 434,637 shares.
The RBLX, MELI, and RPTX Trades
Ark Invest sold shares of Roblox Corp. and MercadoLibre Inc. across various ETFs. Additionally, the ARKG fund sold 32,613 shares of Repare Therapeutics Inc, valued at approximately $32,613 based on the last closing price of $1.0.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AMZN

ARKF

ARKQ

ARKW

BEAM

CRSP

MELI

PATH

RBLX

RPTX

Cathie Wood's Ark Invest Loads Up On Amazon Amid Over 20% Decline In A Year: Offloads UiPath, Roblox

BofA Securities analyst Craig Siegenthaler revised estimates and price forecasts for several broker <a href="https://www.benzinga.com/topic/broker" target="_blank" rel="noreferrer noopener">stocks ahead of earnings season</a>.
The analyst writes that a deeper equity market correction poses EPS risks from cash sweep revenues, trading/margin loans, and AUM-based fees.
Siegenthaler expects further NNA slowdowns, especially in higher ROCA retail channel vs. wealth manager, projecting a modest dip in March.
Since the correction happened late in the quarter, most risks will surface in the second quarter instead of the first quarter of 2025, adds the analyst.
Charles Schwab: The analyst projects Charles Schwab Corporation&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SCHW#NYSE">SCHW</a>) NII to keep rising, regardless of market or rates, as it pays down its costly FHLB/CD borrowings.
He sees a third consecutive quarter of net new asset growth, with a 4.7% estimate, near the low end of the company&#8217;s 5%-7% target.
The analyst reiterated the Underperform rating on the company and lowered the <a target="_blank" href="https://www.benzinga.com/quote/schw/analyst-ratings" rel="noreferrer noopener">price forecast from $74 to $66</a>.
Also, Siegenthaler revised EPS estimates for first-quarter FY25 to $1.03 (from $1.01), 2026 to $4.27 (from $4.82) and 2027 to $4.73 (from $5.26) due to the negative impact of a reduced interest rate forecast and lower AUM-based fees.
Meanwhile, the analyst maintains a long-term bullish stance on retail brokers, particularly online brokers like Interactive Brokers Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) and Robinhood Markets Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), as their valuations and ownership setups have improved post-correction year-to-date.
Siegenthaler continues to view online brokerage as a global secular trend, benefiting from its high-tech, low-cost model, which reaches mass customers at low price points and capitalizes on the demographic shift to digital.
Overall, the analyst maintains the Buy rating on LPL Financial Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LPLA#NASDAQ">LPLA</a>), thanks to strong <a href="https://www.benzinga.com/quote/lpla/analyst-ratings" target="_blank" rel="noreferrer noopener">organic growth and stable ROCA</a>.
Interactive Brokers Group: The analyst reduced the Interactive Brokers Group stock&#8217;s price <a href="https://www.benzinga.com/quote/ibkr/analyst-ratings" target="_blank" rel="noreferrer noopener">forecast from $307 to $265</a>.
Siegenthaler forecasts a 3% quarter-over-quarter revenue increase driven by higher trading volumes, with account growth expected to accelerate to 32%.
The analyst lowered first-quarter/2026/2027 EPS estimates to $1.99/$8.90/$10.62, from $2/$10.14/$12.27, respectively due to expectations of lower client engagement and the impact of lower short-term interest rates on net interest income.
Coinbase: Meanwhile, the analyst notes the strong trading levels Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) in the fourth quarter of 2024 were tough to replicate in the first quarter of FY25, with a decline in crypto prices slowing client activity.
As a result, the analyst lowered Coinbase's 2026/27 EPS estimates by over 10% and reduced the price forecast from $311 to $217.
Robinhood Markets: The analyst lowered the stock price <a href="https://www.benzinga.com/quote/hood/analyst-ratings" target="_blank" rel="noreferrer noopener">target from $65 to $58</a>.
While Siegenthaler expects Robinhood&#8217;s revenues to rise 44% year-over-year, this still represents a 12% quarter-over-quarter decline due to lower trading.
At Robinhood, the analyst also anticipates higher expenses and a return to a normal 21% tax rate after previously being at 0% or lower since its 2021 listing.
The analyst revised the first-quarter FY25/2026/2027 EPS estimates to 29 cents/$1.49/$1.94, from 43 cents/$1.76/$2.18, respectively, due to a lower interest rate forecast, decelerating trading volumes, higher G&amp;A expenses, and a return to a normal tax rate.
Meanwhile, the analyst remains optimistic about the company&#8217;s long-term growth, driven by business expansion, new product launches, strong client relationships, and market growth both globally (including Singapore) and domestically.
Read Next:
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Photo: Shutterstock

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Analyst Ratings

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IBKR

LPLA

SCHW

BofA Analyst Forecasts Slower Growth For Broker Stocks As Market Volatility Increases

The stock market took a dive, but <a href="https://www.benzinga.com/news/25/03/44132684/cathie-woods-bold-move-8-straight-days-of-buying-beam-therapeutics-as-stock-soars-14">Cathie Wood</a> didn&#8217;t flinch. Instead of retreating, the Ark Invest CEO saw an opportunity and went on a buying spree. According to<a href="https://www.investors.com/news/cathie-wood-ark-invest-coinbase-stock-robinhood-tesla-palantir-amd-coin-hood-tsla-pltr/"> Investor&#8217;s Business Daily</a>, her firm snapped up shares of Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Robinhood (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), Palantir Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NYSE">PLTR</a>), and more on March 10.
<h2 class="wp-block-heading">Big Bets in a Turbulent Market</h2>
Investor&#8217;s Business Daily said that Ark Invest picked up 79,318 shares of Tesla, valued at $17.62 million based on Monday&#8217;s closing price of $222.15. The firm also acquired 269,864 shares of Robinhood for $9.6 million and 64,358 shares of Coinbase, worth $11.53 million.&nbsp;
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Other buys included 147,551 shares of Advanced Micro Devices (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) for $14.26 million, 152,253 shares of Palantir at $11.63 million, and 485,005 shares of Beam Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>), valued at $12.46 million.
It&#8217;s a familiar strategy for Wood, who has built a reputation for &#8220;buying the dip.&#8221; She firmly believes in disruptive innovation and has placed some of her biggest bets on Tesla.&nbsp;
Wood thinks part of the recent demand dip for Tesla could result from broader fears about the economy. In a recent<a href="https://www.ark-funds.com/webinars/mar-2025-fund-webinar?utm_medium=email&amp;_hsmi=353364069&amp;utm_content=353364069&amp;utm_source=hs_email"> Ark Invest webinar</a>, she said, &#8220;Now, clearly, the political dynamics of the last few months are hitting demand; we also would suggest that the economic outlook is hitting demand—not just for Tesla—but for all auto manufacturers.&#8221;&nbsp;
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Despite the stock&#8217;s 31% decline this year and a growing list of challenges, Wood has maintained a bullish outlook. She told <a href="https://www.bloomberg.com/news/articles/2025-03-25/cathie-wood-sticks-with-tesla-predicts-stock-will-hit-2-600">Bloomberg TV</a> that Tesla&#8217;s price could soar over the next five years.
Tesla has been at the center of controversy for months. Since Elon Musk&#8217;s closer ties with the Trump administration, the electric vehicle company has faced public protests, boycotts, and even vandalism.&nbsp;
Musk&#8217;s role as an advisor to the Department of Government Efficiency has drawn criticism, with some accusing the CEO of shifting the company into politically charged territory.
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The turmoil has had financial consequences. Tesla&#8217;s stock has been on a downward trend, while competitors, particularly China&#8217;s BYD, have continued to gain market share. According to <a href="https://edition.cnn.com/2025/03/20/business/even-used-teslas-are-falling-out-of-favor/index.html">CNN</a>, Tesla vehicles&#8217; resale value has also dropped over the past month.
Amid the backlash, President Donald Trump publicly backed Musk. He said on <a href="https://truthsocial.com/@realDonaldTrump/posts/114141854575248527">Truth Social </a>that he would buy a Tesla, calling it a &#8220;show of confidence&#8221; in the company. The move follows a broader effort by Trump&#8217;s administration to support Tesla.&nbsp;
Commerce Secretary Howard Lutnick, the commerce secretary, encouraged Americans to invest in the company.&nbsp;
&#8220;I think if you want to learn something on this show tonight, buy <a href="https://www.benzinga.com/news/25/03/44209579/unprecedented-slide-tesla-sales-plummet-45-in-europe-as-musks-net-worth-dives-5-2b-in-a-week">Tesla</a>. It&#8217;s unbelievable that this guy&#8217;s stock is this cheap. It&#8217;ll never be this cheap again,&#8221; ​he told Fox News on March 19.
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</ul>

PLTR

Cathie Wood Just Made A Bold Move—Why She Spent Over $65M On Tesla, Robinhood, And Coinbase 'As The Market Crashed'

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. 
Below are some instances of options activity happening in the Financials sector: 
<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>CRBG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$28.00</td>
<td>$37.6K</td>
<td>3.0K</td>
<td>1.2K</td>
</tr>
<tr>
<td>C</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$62.50</td>
<td>$32.1K</td>
<td>29.3K</td>
<td>1.0K</td>
</tr>
<tr>
<td>AMBC</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$17.00</td>
<td>$46.6K</td>
<td>336</td>
<td>805</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$35.00</td>
<td>$27.3K</td>
<td>24.2K</td>
<td>733</td>
</tr>
<tr>
<td>SOFI</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$7.00</td>
<td>$107.7K</td>
<td>23.4K</td>
<td>598</td>
</tr>
<tr>
<td>BX</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$90.00</td>
<td>$287.5K</td>
<td>2.7K</td>
<td>500</td>
</tr>
<tr>
<td>AXP</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$220.00</td>
<td>$134.0K</td>
<td>856</td>
<td>446</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$250.00</td>
<td>$50.3K</td>
<td>4.2K</td>
<td>308</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/24/24</td>
<td>$36.50</td>
<td>$150.7K</td>
<td>6</td>
<td>138</td>
</tr>
<tr>
<td>UPST</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$27.50</td>
<td>$28.8K</td>
<td>1.1K</td>
<td>102</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For CRBG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRBG#NYSE">CRBG</a>), we notice a put option sweep that happens to be bullish, expiring in 322 day(s) on May 17, 2024. This event was a transfer of 1500 contract(s) at a $28.00 strike. This particular put needed to be split into 26 different trades to become filled. The total cost received by the writing party (or parties) was $37.6K, with a price of $25.0 per contract. There were 3064 open contracts at this strike prior to today, and today 1275 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 bullish sentiment. It expires in 322 day(s) on May 17, 2024. Parties traded 365 contract(s) at a $62.50 strike. The total cost received by the writing party (or parties) was $32.1K, with a price of $88.0 per contract. There were 29351 open contracts at this strike prior to today, and today 1075 contract(s) were bought and sold. 
• For AMBC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMBC#NYSE">AMBC</a>), we notice a call option sweep that happens to be bullish, expiring in 287 day(s) on June 21, 2024. This event was a transfer of 301 contract(s) at a $17.00 strike. This particular call needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $46.6K, with a price of $155.0 per contract. There were 336 open contracts at this strike prior to today, and today 805 contract(s) were bought and sold. 
• For BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we notice a put option sweep that happens to be bearish, expiring in 77 day(s) on June 20, 2025. This event was a transfer of 116 contract(s) at a $35.00 strike. This particular put needed to be split into 18 different trades to become filled. The total cost received by the writing party (or parties) was $27.3K, with a price of $236.0 per contract. There were 24242 open contracts at this strike prior to today, and today 733 contract(s) were bought and sold. 
• For SOFI (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>), we notice a put option sweep that happens to be bullish, expiring in 287 day(s) on January 16, 2026. This event was a transfer of 561 contract(s) at a $7.00 strike. This particular put needed to be split into 7 different trades to become filled. The total cost received by the writing party (or parties) was $107.7K, with a price of $192.0 per contract. There were 23444 open contracts at this strike prior to today, and today 598 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 neutral sentiment. It expires in 287 day(s) on January 16, 2026. Parties traded 500 contract(s) at a $90.00 strike. The total cost received by the writing party (or parties) was $287.5K, with a price of $575.0 per contract. There were 2714 open contracts at this strike prior to today, and today 500 contract(s) were bought and sold. 
• For AXP (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), we notice a put option trade that happens to be bullish, expiring in 259 day(s) on July 19, 2024. This event was a transfer of 400 contract(s) at a $220.00 strike. The total cost received by the writing party (or parties) was $134.0K, with a price of $335.0 per contract. There were 856 open contracts at this strike prior to today, and today 446 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 sweep with neutral sentiment. It expires in 287 day(s) on June 21, 2024. Parties traded 46 contract(s) at a $250.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $50.3K, with a price of $1095.0 per contract. There were 4208 open contracts at this strike prior to today, and today 308 contract(s) were bought and sold. 
• Regarding AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we observe a call option sweep with bearish sentiment. It expires in 315 day(s) on May 24, 2024. Parties traded 503 contract(s) at a $36.50 strike. This particular call needed to be split into 15 different trades to become filled. The total cost received by the writing party (or parties) was $150.7K, with a price of $300.0 per contract. There were 6 open contracts at this strike prior to today, and today 138 contract(s) were bought and sold. 
• For UPST (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPST#NASDAQ">UPST</a>), we notice a put option sweep that happens to be bearish, expiring in 259 day(s) on July 19, 2024. This event was a transfer of 51 contract(s) at a $27.50 strike. This particular put needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $28.8K, with a price of $565.0 per contract. There were 1106 open contracts at this strike prior to today, and today 102 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 about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AFRM

AMBC

CRBG

SOFI

UPST

10 Financials Stocks With Whale Alerts In Today's Session

<ul>
<li>Coinbase CEO Brian Armstrong argues that opposing interest-yielding stablecoins hurts consumers and the U.S.</li>
<li>Armstrong&#8217;s argument appears to be a response to recent statements from Sen. Kirsten Gillibrand (D-NY).</li>
<li>The Coinbase chief is not the only expert who believes interest-yielding stablecoins should not be blocked.</li>
</ul>
Amid <a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43524640/trumps-support-for-dollar-pegged-crypto-will-fast-track-digital-euro-approval-ecb">President Donald Trump&#8217;s backing</a>, the crypto industry looks set to receive long-clamored-for regulations, starting with stablecoins.
As negotiations on likely bills progress in Congress, Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) CEO Brian Armstrong has urged lawmakers not to prevent users from earning interest on their stablecoin holdings.
<h2 class="wp-block-heading">&#8220;A Win-Win&#8221;</h2>
Dollar stablecoins typically maintain their peg by holding reserves in highly liquid and safe investments like short-term U.S. Treasury bonds. In the status quo, however, issuers pocket the yield on these investments, as stablecoins do not benefit from the same exemptions under securities law that allow savings or interest-bearing checking accounts to pay out interest.
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As the U.S. works towards stablecoin rules, Armstrong <a href="https://x.com/brian_armstrong/status/1906723887112401179?t=G1tiY0btmncnpGALaCcqoQ&amp;s=19">warned</a> in an X post on Monday against efforts to protect the legacy banking system by preventing stablecoins from paying out interest like a regular savings or interest-bearing checking account. According to Armstrong, such efforts would only hurt consumers and the U.S.
While Armstrong did not explicitly state it, his post appears to be a response to recent statements from Sen. Kirsten Gillibrand (D-NY). Speaking at the 2025 DC Blockchain Summit on March 26, Gillibrand asserted that allowing stablecoin interest payments will cripple the financial system customers relied on for business loans and mortgages by discouraging deposits to local banks.
Armstrong, however, argues that this position goes against the ideals of the free market system.
&#8220;The government shouldn&#8217;t put it&#8217;s [sic] thumb on the scale to benefit one industry over another. Banks and crypto companies alike should both be allowed to, and incentivized to, share interest with consumers. This is consistent with a free market approach,&#8221; he wrote.
Trending: Hasbro, MGM, and Skechers trust this AI marketing firm — <a href="https://www.benzinga.com/money/rad-intel">invest pre-IPO from $0.55 per share now</a>.
Armstrong posited that interest-bearing stablecoins would benefit customers by potentially allowing them to beat inflation. As highlighted by Armstrong, the average Federal Reserve funds rate earned by stablecoin issuers in 2024 was 4.75% as inflation hovered around 3%. In comparison, the average savings account offered customers only 0.41% interest.
According to Armstrong, the better wealth preservation potential of interest-bearing stablecoins would also benefit the U.S. economy by encouraging spending, saving, and investments.
&#8220;Unleashing onchain interest is a win-win,&#8221; he submitted.
Armstrong is not the only vocal crypto proponent who has criticized Gillibrand&#8217;s argument against interest-bearing stablecoins. Bitwise CIO Matt Hougan <a href="https://x.com/Matt_Hougan/status/1906634389393437000?t=aiOQDJBPPOJWEdtG4f-1HQ&amp;s=19">compared</a> her&nbsp; position to preventing websites from posting stories that a physical newspaper had not printed first to protect the newspaper industry.
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He further argued that the senator&#8217;s concern about lending for everyday Americans would still be satisfied by the free market, citing mortgage providers as one possible option.
Meanwhile, like Armstrong, Hougan argued that the current system only hurt everyday consumers.
&#8220;Wealthy individuals already have ways to opt-out of the zero-interest-cartel via money market funds and high-balance interest-bearing accounts. Wouldn&#8217;t it be nice if every American could have easy access to a way to gather interest on their money?&#8221; he quipped.
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Coinbase CEO Slams Legislative Push Against Interest Payments To Stablecoin Holders

Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) has just flashed a <a href="https://www.benzinga.com/topic/death-cross">dreaded Death Cross,</a> the technical indicator that sends shivers down bullish spines.
The stock's 50-day simple moving average (SMA) has plunged below the 200-day SMA, historically a signal of bearish momentum.
But before you start shorting Coinbase&#8217;s stock into oblivion, there's more to the story.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0404"><img loading="lazy" decoding="async" width="631" height="489" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04044638/Screenshot-2025-04-04-at-2.15.57-PM.png" alt="" class="wp-image-857102" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04044638/Screenshot-2025-04-04-at-2.15.57-PM.png 631w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/04044638/Screenshot-2025-04-04-at-2.15.57-PM-300x232.png 300w" sizes="(max-width: 631px) 100vw, 631px" /></a></figure>
<a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0404">Chart created using Benzinga Pro</a>
Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44544440/bitcoin-strategy-coinbase-feel-the-heat-from-stock-market-drawdown-upside-is-likely-limited-analyst-says">Bitcoin, Strategy, Coinbase Feel The Heat From Stock Market Drawdown: &#8216;Upside Is Likely Limited,&#8217; Analyst Says</a>
<h2 class="wp-block-heading">COIN's Technical Setup: Bearish Or Oversold?</h2>
Coinbase stock has had a brutal run, tumbling 31.59% over the past year, down 33.61% year-to-date, and shedding 19.66% in just the last month. 
At $172.79, the stock is trading well below key moving averages &#8211; an eight-day SMA of $178.71, a 20-day SMA of $185.02, a 50-day SMA of $227.70 and a 200-day SMA of $230.43.
Technically speaking, the trend leans bearish.
However, conflicting signals are under the surface. The Moving Average Convergence Divergence (MACD) indicator is negative at 13.68, suggesting a bearish outlook.
Meanwhile, the Relative Strength Index (RSI) is hovering at 37.84, dangerously close to oversold territory, which could invite dip buyers.
<h2 class="wp-block-heading">Institutional Moves: XRP Futures On The Horizon</h2>
Adding fuel to the fire, Coinbase Institutional is making big moves in the derivatives market, filing with the Commodity Futures Trading Commission (CFTC) to roll out XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) futures, <a href="https://www.coindesk.com/markets/2025/04/04/coinbase-institutional-is-close-to-offering-xrp-futures">reported</a> Coindesk. 
Set to launch on April 21, the cash-settled contracts (trading under the ticker XRL) will offer a regulated way to gain exposure to the controversial yet liquid digital asset. This could be a game-changer for institutional adoption.
<h2 class="wp-block-heading">What's Next For COIN?</h2>
So, is COIN stock's Death Cross a death sentence? 
While the technicals scream caution, buying pressure remains, and the XRP futures launch could reignite investor interest. 
With mixed sentiment, traders may want to watch for confirmation before making their next move.
Read Next: 
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<li><a href="https://www.benzinga.com/top-stories/25/04/44590297/coinbase-ceo-brian-armstrong-advocates-for-stablecoins-consumers-deserve-a-bigger-piece-of-the-pie">Coinbase CEO Brian Armstrong Advocates For Stablecoins: &#8216;Consumers Deserve A Bigger Piece Of The Pie&#8217;</a></li>
</ul>
Image: Shutterstock

Technicals

Signals

Coinbase Stock Drops Into A Death Cross: Will XRP Futures Be Its Comeback Catalyst?

Coinbase Global: Aware That Some Users May Be Experiencing Delayed Sends And Receives On Aleo Network\

WIIM

APLD

BITF

CLSK

Core Scientific, Inc. - Class A Common Stock

CORZ

HIVE

IREN

MARA

RIOT

WULF

Shares of crypto-linked stocks and Bitcoin miners are trading lower as markets react to President Trump's announcement of sweeping tariffs.

Circle Internet Financial, the company behind USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), is showing a mixed financial picture ahead of its planned public listing, with revenue up by 16%, but profitability down due to higher costs <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44567164/circle-eyes-5-billion-valuation-for-upcoming-initial-public-offering">and increased redemptions</a>.
What Happened: In a <a href="https://x.com/matthew_sigel/status/1907179407657365989">post</a> dissecting the newly filed S-1 prospectus, Matthew Sigel, Head of Digital Assets Research at VanEck, highlighted the disconnect between Circle's topline momentum and its bottom-line performance.
According to Sigel, the company's earnings before interest, taxes, depreciation and amortization (EBITDA) fell by 78%, while net income dropped 66%, despite strong revenue growth. 
The reason: rising costs and a more competitive market environment.
Sigel noted that Circle's redemptions surged to $165 billion in 2023, up from $98 billion in 2022, suggesting that users are increasingly rotating capital in and out of the stablecoin—likely to optimize yield. 
He pointed to a "deterioration in margins" driven by this dynamic, as Circle's profitability depends heavily on its ability to retain interest-earning reserves.
On the expense side, Sigel observed that "Circle's share-based compensation rose from $103 million in 2022 to $164 million in 2023," an increase he labeled "arguably unjustified." 
The company's full-time employee count grew only modestly, from 326 to 359, indicating that higher average pay and equity grants significantly contributed to expense growth.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44603859/bitcoin-braces-for-trump-tariff-announcement-short-term-optimism-has-the-upper-hand-experts-say">Bitcoin Braces For Trump Tariff Announcement: &#8216;Short-Term Optimism&#8217; Has The Upper Hand, Experts Say</a>
Why It Matters: The financials also reflect a broader pressure on USDC's dominance.
While it remains the second-largest dollar-pegged stablecoin after Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>), USDC's market share has faced headwinds in a highly competitive environment. 
Still, Circle reported interest income of $779 million in 2023, largely from its holdings in short-duration U.S. Treasuries.
Circle's IPO filing with the SEC signals the company's renewed ambition to go public, following its failed 2021 SPAC merger. 
The company intends to list its Class A shares on the New York Stock Exchange under the ticker symbol "CRCL," though pricing details remain undisclosed.
CEO Jeremy Allaire said that becoming a publicly traded firm is "a continuation of our dedication to transparency and accountability," positioning the IPO as part of Circle's broader mission to modernize financial infrastructure through blockchain-based assets.
The filing comes at a pivotal time, as USDC recently regained market confidence following a de-pegging scare linked to the Silicon Valley Bank crisis, and as political momentum builds around stablecoin legislation in the U.S. 
President Donald Trump has expressed support for stablecoin regulation aimed at preserving the dollar's global influence, a move that could benefit Circle as it enters public markets.
If successful, Circle would join the ranks of other publicly listed crypto companies such as Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>), offering investors a new way to gain exposure to the <a href="https://www.benzinga.com/markets/cryptocurrency/25/04/44600089/circle-issuer-of-the-worlds-second-largest-stablecoin-files-for-ipo-amid-trumps-support-for-dollar-pegged-cryptos#google_vignette">rapidly evolving stablecoin sector.</a>
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</ul>
Image: Shutterstock

$USDC

$USDT

Circle's Revenue Grows, But IPO Filing Shows Falling Profitability

Circle Internet Financial, the issuer of the world&#8217;s second-largest stablecoin, USD Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>), filed a prospectus for an initial public offering with the Securities and Exchange Commission on Tuesday.
What Happened: The company plans to list its Class A common stock on the New York Stock Exchange&nbsp;under the ticker symbol "CRCL," according to an S-1 registration statement, a prerequisite for firms to go public.
The initial offering price range and the number of shares to be offered were not disclosed in the filing.
&#8220;Operating as a U.S.-listed public company represents our continued dedication to transparency and accountability, as we will become subject to the reporting, corporate governance, and other requirements that are applicable to a public company listed on the New York Stock Exchange,&#8221; Circle CEO Jeremy Allaire said.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/25/03/44555553/will-the-greatest-of-them-all-trump-memecoin-make-its-way-to-trump-media-etfs-polymarket-bettors-think-its-unlikely">&#8216;Greatest Of Them All&#8217; TRUMP Memecoin Headed for Trump Media ETFs? Polymarket Bettors Think It&#8217;s Unlikely</a>
Why It Matters: This latest IPO filing marks Circle&#8217;s second major attempt to go public. The 2021 SPAC deal was abandoned due to regulatory delays and market turbulence caused by the <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35445270/the-true-cost-of-the-ftx-collapse-how-much-did-sam-bankman-fried-really-make" target="_blank" rel="noreferrer noopener">collapse of crypto exchange</a>&nbsp;FTX.
Following a brief de-pegging during the Silicon Valley Bank <a href="https://www.benzinga.com/government/23/03/31323955/the-big-picture-why-silicon-valley-bank-collapsed-a-simple-explainer">crisis</a>, when $3.3 billion in reserves were temporarily locked, USDC has since recovered, now boasting a $60 billion market capitalization, making it the second-largest dollar-pegged cryptocurrency after Tether (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDT</a>).
The IPO filing follows President Donald Trump&#8217;s push to <a href="https://in.benzinga.com/markets/cryptocurrency/25/03/44420122/donald-trump-calls-for-stablecoin-legislation-lauds-bitcoin-reserve-biden-got-a-fraction-of-their-value">pass stablecoin legislation</a> to enhance the U.S. financial system and maintain the dollar&#8217;s global dominance.
If approved, Circle will join other cryptocurrency-related stocks, such as Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and Block Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XYZ#NYSE">XYZ</a>), on Wall Street. Check out Benzinga Edge Stock Rankings score to see <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">how these stocks rank</a> in terms of Growth, a measurement of the asset&#8217;s combined historical expansion in earnings and revenue.
Photo Courtesy: wei-ya2019 on Shutterstock.com
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USDC

Circle, Issuer Of the World's Second-Largest Stablecoin, Files For IPO Amid Trump's Support For Dollar-Pegged Cryptos

Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) CEO Brian Armstrong is making a strong case for unlocking onchain interest for stablecoins, arguing that it offers a practical path to empowering consumers, expanding global financial access and reinforcing U.S. dollar dominance in the digital era.
What Happened: In a blog post <a href="https://x.com/brian_armstrong/article/1906723887112401179">published</a> Tuesday, Armstrong laid out a concise argument in favor of allowing interest to flow directly to stablecoin holders, similar to traditional savings accounts.
"Consumers deserve a bigger piece of the pie," he wrote. "Opening the door for onchain interest will force us all to up our game for the ultimate benefit of consumers."
Currently, stablecoin issuers like Circle—whose (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) token is backed 1:1 by U.S. dollars—invest reserves in low-risk assets such as short-term Treasuries.
The interest earned is typically kept by the issuer. 
Armstrong is pushing for a regulatory change that would allow stablecoin holders to receive this yield directly, bypassing intermediaries and mirroring the structure of interest-bearing bank accounts.
The stakes are high for consumers, Armstrong argued. While the average federal funds rate hovered around 4.75% in 2024, the typical consumer savings account paid just 0.41%—or as low as 0.01% in many cases. 
With inflation at roughly 3%, savers lost purchasing power in real terms. 
"Onchain interest democratizes access to the market rate yield," Armstrong wrote. "It gives regular people a fair shot at maintaining and growing their wealth."
Beyond U.S. borders, the implications are even more expansive. Armstrong pointed out that billions of people globally remain underbanked or lack access to stable fiat currencies. 
Also Read: <a href="https://www.benzinga.com/25/04/44587813/titandex-ceo-chris-chung-advocates-social-consensus-for-crypto-ethics-sees-bright-future-for-defi">Crypto Industry Needs To Enforce Ethical Norms, TitanDex CEO Chris Chung Says</a>
Onchain interest via USD-backed stablecoins could provide these users with interest-earning digital dollars, accessible from any internet-connected device—without branch visits, remittance fees, or hyperinflation risks.
Armstrong also stressed the macro benefits for the U.S. economy. Stablecoin issuers are already among the largest buyers of U.S. Treasuries. 
By enabling interest to be distributed to stablecoin users, Armstrong believes it would drive further global demand for dollar-backed assets, strengthening the dollar's role in the digital age. 
"More yield in consumers' hands means more spending, saving, investing—fueling economic growth in all local economies where stablecoins are held," he said.
However, current securities laws limit this potential. Unlike banks, stablecoin issuers face strict disclosure and compliance burdens if they attempt to pay interest to users—barriers Armstrong says are outdated. 
"The tech is all there, but the law hasn't caught up," he explained.
What&#8217;s Next: With Congress now actively <a href="https://www.benzinga.com/content/44516699/u-s-congress-advances-stablecoin-regulation-with-the-introduction-of-the-stable-act">debating stablecoin legislation</a>, Armstrong called on lawmakers to create a level playing field that allows regulated stablecoin issuers to share interest with users—without classifying those stablecoins as securities.
"We can choose to level the playing field and ensure these laws pave a way," he urged, "or we can protect an outdated system that pays the average person 0.01%."
Read Next: 
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</ul>
Image: Shutterstock

Coinbase CEO Brian Armstrong Advocates For Stablecoins: 'Consumers Deserve A Bigger Piece Of The Pie'

Shares of crypto-linked stocks and Bitcoin miners are trading higher after bitcoin rose above $85,000.

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 often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<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>WFC</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/18/25</td>
<td>$75.00</td>
<td>$45.7K</td>
<td>12.9K</td>
<td>6.5K</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$41.50</td>
<td>$268.1K</td>
<td>869</td>
<td>1.9K</td>
</tr>
<tr>
<td>AFRM</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/25/25</td>
<td>$44.00</td>
<td>$86.5K</td>
<td>97</td>
<td>1.9K</td>
</tr>
<tr>
<td>HOOD</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/15/27</td>
<td>$30.00</td>
<td>$669.6K</td>
<td>3.9K</td>
<td>1.0K</td>
</tr>
<tr>
<td>MS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/04/25</td>
<td>$119.00</td>
<td>$54.1K</td>
<td>285</td>
<td>1.0K</td>
</tr>
<tr>
<td>RKT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$9.20</td>
<td>$107.9K</td>
<td>346</td>
<td>576</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$5.00</td>
<td>$332.0K</td>
<td>2.8K</td>
<td>160</td>
</tr>
<tr>
<td>AIG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$75.00</td>
<td>$34.0K</td>
<td>177</td>
<td>100</td>
</tr>
<tr>
<td>PGR</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>04/04/25</td>
<td>$260.00</td>
<td>$115.0K</td>
<td>25</td>
<td>50</td>
</tr>
<tr>
<td>KKR</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$120.00</td>
<td>$59.2K</td>
<td>1.0K</td>
<td>46</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For WFC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), we notice a call option trade that happens to be bullish, expiring in 109 day(s) on July 18, 2025. This event was a transfer of 129 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $45.7K, with a price of $355.0 per contract. There were 12921 open contracts at this strike prior to today, and today 6536 contract(s) were bought and sold. 
• For BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we notice a put option sweep that happens to be bearish, expiring in 17 day(s) on April 17, 2025. This event was a transfer of 1887 contract(s) at a $41.50 strike. This particular put needed to be split into 33 different trades to become filled. The total cost received by the writing party (or parties) was $268.1K, with a price of $142.0 per contract. There were 869 open contracts at this strike prior to today, and today 1998 contract(s) were bought and sold. 
• Regarding AFRM (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AFRM#NASDAQ">AFRM</a>), we observe a call option sweep with bearish sentiment. It expires in 25 day(s) on April 25, 2025. Parties traded 206 contract(s) at a $44.00 strike. This particular call needed to be split into 10 different trades to become filled. The total cost received by the writing party (or parties) was $86.5K, with a price of $420.0 per contract. There were 97 open contracts at this strike prior to today, and today 1932 contract(s) were bought and sold. 
• Regarding HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we observe a put option trade with neutral sentiment. It expires in 655 day(s) on January 15, 2027. Parties traded 992 contract(s) at a $30.00 strike. The total cost received by the writing party (or parties) was $669.6K, with a price of $675.0 per contract. There were 3944 open contracts at this strike prior to today, and today 1050 contract(s) were bought and sold. 
• For MS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), we notice a call option sweep that happens to be bullish, expiring in 4 day(s) on April 4, 2025. This event was a transfer of 741 contract(s) at a $119.00 strike. This particular call needed to be split into 25 different trades to become filled. The total cost received by the writing party (or parties) was $54.1K, with a price of $73.0 per contract. There were 285 open contracts at this strike prior to today, and today 1034 contract(s) were bought and sold. 
• Regarding RKT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RKT#NYSE">RKT</a>), we observe a call option sweep with bullish sentiment. It expires in 655 day(s) on January 15, 2027. Parties traded 254 contract(s) at a $9.20 strike. This particular call needed to be split into 6 different trades to become filled. The total cost received by the writing party (or parties) was $107.9K, with a price of $425.0 per contract. There were 346 open contracts at this strike prior to today, and today 576 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 291 day(s) on January 16, 2026. Parties traded 20 contract(s) at a $5.00 strike. The total cost received by the writing party (or parties) was $332.0K, with a price of $16601.0 per contract. There were 2839 open contracts at this strike prior to today, and today 160 contract(s) were bought and sold. 
• For AIG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), we notice a call option trade that happens to be bullish, expiring in 172 day(s) on September 19, 2025. This event was a transfer of 24 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $34.0K, with a price of $1420.0 per contract. There were 177 open contracts at this strike prior to today, and today 100 contract(s) were bought and sold. 
• For PGR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), we notice a call option trade that happens to be neutral, expiring in 4 day(s) on April 4, 2025. This event was a transfer of 50 contract(s) at a $260.00 strike. The total cost received by the writing party (or parties) was $115.0K, with a price of $2300.0 per contract. There were 25 open contracts at this strike prior to today, and today 50 contract(s) were bought and sold. 
• For KKR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KKR#NYSE">KKR</a>), we notice a put option sweep that happens to be bearish, expiring in 172 day(s) on September 19, 2025. This event was a transfer of 40 contract(s) at a $120.00 strike. This particular put needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $59.2K, with a price of $1480.0 per contract. There were 1050 open contracts at this strike prior to today, and today 46 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 about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Circle Internet Financial, the company behind the (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">USDC</a>) stablecoin, is reviving its public listing ambitions and is reportedly preparing to file for an <a href="https://www.benzinga.com/money/what-does-ipo-mean">initial public offering</a> by late April.
What Happened: The crypto-focused fintech is working with JPMorgan Chase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NASDAQ">JPM</a>) and Citi as advisors, Fortune <a href="https://fortune.com/2025/03/31/circle-jpmorgan-chase-crypto-usdc-citi-ipos-spac-sec/">reported</a> on Monday, quoting sources familiar with the matter.
This would mark Circle's second major attempt to go public. 
Its earlier 2021 effort via a SPAC deal was abandoned after regulatory delays and broader market turmoil following the <a href="https://www.benzinga.com/markets/cryptocurrency/23/10/35445270/the-true-cost-of-the-ftx-collapse-how-much-did-sam-bankman-fried-really-make">collapse of crypto exchange</a> FTX.
In January 2024, Circle confidentially filed with the SEC for a traditional IPO, and the upcoming public filing will provide the first official look at the company's financials.
Founded in 2013 by Jeremy Allaire and Sean Neville, Circle has evolved from a broader crypto services firm into a stablecoin-focused financial platform. 
Its USDC stablecoin, once operated through a consortium called Centre with Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) as its sole remaining partner, has seen a dramatic rebound since early 2023. 
Following a brief de-pegging during the Silicon Valley Bank crisis—when $3.3 billion in reserves were temporarily locked—USDC has since recovered, now boasting a $60 billion market cap.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44564969/tom-lee-says-weve-got-the-right-pieces-for-a-bottom-bitcoin-could-do-well-into-year-end">Tom Lee Says &#8216;We&#8217;ve Got The Right Pieces For A Bottom,&#8217; Bitcoin &#8216;Could Do Well Into Year-End&#8217;</a>
Despite its growth, Circle's financial health remains closely tied to interest income. As of the first half of 2023, 99% of its revenue came from interest earned on reserve assets like U.S. Treasuries. 
Circle is reportedly seeking a valuation between $4 billion and $5 billion for its IPO, a sharp drop from the $9 billion valuation it reached during its SPAC attempt.
Why It Matters: Circle's public debut would be the largest crypto IPO since Coinbase went public in 2021.
Like Coinbase, Circle's IPO is arriving as the market for new listings shows renewed signs of life. 
So far in 2025, IPO activity has jumped 70% compared to the same period last year, signaling a more favorable climate for tech and crypto companies.
With stablecoin regulation advancing in Washington—backed by a pro-crypto stance from President Trump—Circle&#8217;s positioning in the market appears timely. 
However, the company now faces increased competition from both crypto-native firms and traditional finance players like PayPal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NYSE">PYPL</a>) and Ripple (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), which have launched stablecoins of their own.
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Image: Shutterstock

PYPL

Circle Eyes $5 Billion Valuation For Upcoming Initial Public Offering

Deep-pocketed investors have adopted a bearish approach towards Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in COIN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 42 extraordinary options activities for Coinbase Global. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 23% leaning bullish and 50% bearish. Among these notable options, 22 are puts, totaling $2,213,841, and 20 are calls, amounting to $1,272,231.
<h3>Expected Price Movements</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $2.5 to $500.0 for Coinbase Global over the last 3 months. 
<h3>Volume &amp; Open Interest Development</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Coinbase Global's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Coinbase Global's whale activity within a strike price range from $2.5 to $500.0 in the last 30 days. 
<h3>Coinbase Global 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1743432358_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th align="right">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>09/19/25</td>
<td>$32.35</td>
<td>$31.35</td>
<td>$32.25</td>
<td>$170.00</td>
<td>$341.8K</td>
<td>404</td>
<td align="right">106</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/16/25</td>
<td>$105.4</td>
<td>$104.15</td>
<td>$104.6</td>
<td>$270.00</td>
<td>$261.5K</td>
<td>612</td>
<td align="right">25</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$29.4</td>
<td>$28.65</td>
<td>$29.1</td>
<td>$195.00</td>
<td>$218.3K</td>
<td>646</td>
<td align="right">207</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$134.2</td>
<td>$132.1</td>
<td>$132.94</td>
<td>$300.00</td>
<td>$212.6K</td>
<td>1.2K</td>
<td align="right">53</td>
</tr>
<tr>
<td>COIN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/16/25</td>
<td>$10.05</td>
<td>$9.65</td>
<td>$9.84</td>
<td>$150.00</td>
<td>$192.7K</td>
<td>3.3K</td>
<td align="right">735</td>
</tr>
</tbody>
</table>

<h3>About Coinbase Global</h3>
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.
After a thorough review of the options trading surrounding Coinbase Global, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Coinbase Global's Current Market Status</h3>
<ul>
<li>With a trading volume of 2,856,619, the price of COIN is down by -4.1%, reaching $166.79.</li>
<li>Current RSI values indicate that the stock is may be approaching oversold.</li>
<li>Next earnings report is scheduled for 31 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Coinbase Global</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $284.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;adType=benzinga-insights&amp;ad=options-activity&amp;campaign=wallstreetadvantage">Click here for access</a>. 
&#x2A; Reflecting concerns, an analyst from Bernstein lowers its rating to Outperform with a new price target of $310. 
&#x2A; Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Coinbase Global, targeting a price of $305. 
&#x2A; Reflecting concerns, an analyst from Rosenblatt lowers its rating to Buy with a new price target of $305. 
&#x2A; Maintaining their stance, an analyst from Rosenblatt continues to hold a Buy rating for Coinbase Global, targeting a price of $305. 
&#x2A; Reflecting concerns, an analyst from Goldman Sachs lowers its rating to Neutral with a new price target of $195.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Coinbase Global options trades with real-time alerts from <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.

This Is What Whales Are Betting On Coinbase Global

Knowing which <a href="https://www.benzinga.com/personal-finance/25/03/44376666/high-yield-dividend-investor-making-12900-per-year-names-10-favorite-stocks-took-me-almost-3-years-to-get-to-this-point">stocks</a> to hold for the long term and which to sell before they drag down your portfolio is a challenge every investor faces at least once in their journey.
Some swear by the &#8220;buy and hold&#8221; strategy, while others advocate for constant rebalancing of a portfolio to mitigate <a href="https://www.benzinga.com/personal-finance/25/03/44476778/author-says-dave-ramsey-is-completely-ignorant-of-sequence-of-returns-risk-questions-whether-1-million-is-really-enough-for-retirement">risk</a>. The issue becomes even more pronounced when a portfolio is heavily condensed in high-growth but volatile sectors like technology.
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One such investor recently took to Reddit to seek advice on his $14,228 portfolio, which includes tech giants like Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), Nvidia (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>)​, Alphabet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>, GOOG)), and Meta Platforms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), alongside ETFs like Vanguard S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VOO#NYSE">VOO</a>) and Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), and even some crypto-linked stocks like Coinbase Global (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) and MicroStrategy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>).
The poster is considering adding Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) to his portfolio but is unsure if now is the right time. He&#8217;s also wondering whether to keep high-risk stocks like TSLA, COIN, and MSTR or shift to more stable assets and how to diversify his portfolio further.
Trending: Can you guess how many retire with a $5,000,000 nest egg? <a href="https://www.benzinga.com/money/5mil-nest-egg-adv">The percentage may shock you</a>.
The Reddit community has come forward with plenty of advice in the comments; let&#8217;s see what they say.
<h2 class="wp-block-heading">Hold or Sell? Investor With $14,000 Tech-Heavy Portfolio Ponders Diversification–Reddit Advises Him</h2>
Diversify into Other Sectors or Broader ETFs
Many Redditors indicated that the investor&#8217;s portfolio is way too concentrated in tech, which increases risk. Instead, they suggested reducing individual stock holdings and adding ETFs to gain exposure to other sectors.
&#8220;I am sure you know this, but VOO/QQQ includes all of the individual companies that you have the majority of your portfolio invested in,&#8221; a comment says.
Advising the poster to diversify his portfolio, one Redditor suggested choosing either VOO or QQQ, but not both.
&#8220;You own good companies! Personally, I would choose one of the two VOO/QQQ not both, but that&#8217;s just me and is not really a big deal&#8230; Other than that, I like everything else; I think I own all of them, except COIN. Look into buying other sectors, you are too heavily concentrated on tech.&#8221;
A commenter advised the poster to add a broad-market ETF to reduce complexity and risk.
&#8220;Too complex for this volume, many duplicates and missing diversification. Just do VOO or an [MSCI (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/msci#NYSE">MSCI</a>)] world index and that's it,&#8221; he wrote.
&#8220;VOO and QQQ are redundant and lend even more weight to the Mag 7. COIN, MSTR, TSLA, and NVDA are no-go long-term, I think. Try to add something more stable like [Raytheon Technologies (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rtx#NYSE">RTX</a>)], [UnitedHealth Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unh#NYSE">UNH</a>)], or [The Coca-Cola Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ko#NYSE">KO</a>)],&#8221; a user suggested.
A Redditor recommended the investor add a mix of ETFs and stable dividend-paying stocks to improve the portfolio&#8217;s resilience.
&#8220;Continue with VOO, [Invesco NASDAQ 100 ETF (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qqqm#NASDAQ">QQQM</a>)] only, and get some solid plays added from now on, diversify a bit. Can stick with ETFs or index, defense, utilities, energy, health care, precious metals, [Berkshire Hathaway (NYSE: BRK.A, BRK.B)], with the trade war, you need stuff that can survive. Look for some balance now with solid legacy names with dividends,&#8221; he wrote.
See Also: BlackRock is calling 2025 the year of alternative assets. <a href="https://www.benzinga.com/money/masterworks">One firm from NYC has quietly built a group of 60,000+ investors who have all joined in on an alt asset class previously exclusive to billionaires like Bezos and Gates.</a>
Sell TSLA, COIN, and MSTR
The poster&#8217;s most controversial holdings were TSLA, COIN, and MSTR, and some commenters argued that he should get rid of them since they&#8217;re too risky for a 10-year hold.
&#8220;Sell the TSLA and take the win; it's overvalued dramatically,&#8221; a comment reads.
&#8220;I'd scrub TSLA and MSTR and put it in VOO or QQQ. Tesla's valuation is and has been insane forever, even after the sell-off. The fundamentals are just awful for its valuation. And that's not even dipping into political stuff. Plus, it's already a decent weight in VOO anyway. And MSTR is straight-up junk,&#8221; a Redditor said.
This user also suggested selling the three stocks, saying, &#8220;I would personally remove MSTR, COIN, and TSLA and buy more of QQQ/VOO.&#8221;
&#8220;Get rid of TSLA before it wrecks your portfolio!&#8221; another comment reads.
One Redditor shared he would never hold MSTR for the long term, and suggested HOOD instead of COIN.
&#8220;No way I would hold MSTR for 10 years. You are playing crypto with COIN; in my opinion, HOOD is the better bet now that they are getting into the higher-margin gambling business. If you want Bitcoin exposure, buy [iShares Bitcoin Trust (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ibit#NASDAQ">IBIT</a>)].
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GOOGL

IBIT

MSCI

NVDA

QQQM

$14K Investor In TSLA, NVDA, And QQQ Faces Dilemma – 'Looking To Hold For At Least 10 Years' But Is That A Recipe For Disaster? Reddit Debates

From a snapshot perspective of market sentiment, cryptocurrency exchange and services provider Coinbase Global Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) does not appear to be walking on auspicious grounds. 
Instead, circumstances seem quite bearish. Still, a rotation in opinion may be materializing among smart money traders or the so-called whales. As such, bullish speculators may have a fast-approaching opportunity in Coinbase stock.
Again, at first glance, the notion of imminent upside appears far-fetched, to say the least. One of the more damning indicators is the <a href="https://www.benzinga.com/topic/death-cross">death cross</a>. A phenomenon that describes when a shorter-running moving average slips beneath a longer-running average — typically the 50-day moving average falling below the 200 DMA — the death cross symbolizes a deceleration of momentum. In some cases, it could also signal the beginning of a prolonged downturn or an outright bear market.
To be clear, Coinbase stock has yet to officially print a death cross — but, it's very much on the cusp of doing so. At time of writing on Friday, Coinbase&#8217;s 50 DMA lands at $239.54, while the 200 DMA sits at $232.26 — a gap of only 3.13%. Today's big drop, contributing to a five-day loss of roughly 12%, has accelerated the likelihood of the dreaded signal flashing.
What's more, technical analysts have warned certain cryptos themselves are <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44523170/bitcoin-ethereum-xrp-dogecoin-trade-sideways-as-trader-warns-of-potential-btc-death-cross">at risk of printing the death cross</a>. Since Coinbase stock in many ways represents a proxy of the broader crypto complex, an erosion of confidence in the underlying benchmark would seem to bode poorly for Coinbase stakeholders.
<h1 class="wp-block-heading">Why Coinbase Stock Could be Offering a Contrarian Setup</h1>
Despite the ominous-sounding nature of the death cross, in certain situations, the technical pattern could represent a bullish contrarian signal. In other words, rather than representing a warning of imminent doom, the bearish crossing of the moving averages could instead be a discount.
Following its <a href="https://www.benzinga.com/markets/cryptocurrency/21/04/20615624/coinbase-direct-listing-what-you-need-to-know-ahead-of-crypto-exchanges-public-debut">direct listing</a> in April 2021, Coinbase stock has printed three death crosses, as follows:
<ul>
<li>On Jan. 27, 2022, Coinbase's 50 DMA fell below its 200 DMA, with a closing price of $170.20.</li>
<li>On June 22, 2023, Coinbase flashed the signal, closing at $57.49.</li>
<li>On Sept. 9, 2024, Coinbase last signaled the death cross at a closing price of $170.09.</li>
</ul>
Although it's an extremely small sample size, it's intriguing that in every case, Coinbase stock has jumped higher one month after the death cross flashed. Starting from the first death cross, the post-one-month price of Coinbase clocked in at $190.77, $98.85 and $213.72, for an average return of 36.56%.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-1024x576.jpg" alt="" class="wp-image-847616" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/28145801/COIN-stock-death-cross.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>
Adding to the speculative fire is the pivoting of sentiment among the whales. On March 18, Benzinga's <a href="https://www.benzinga.com/insights/options/25/03/44379101/looking-at-coinbase-globals-recent-unusual-options-activity">options scanner</a> identified unusual options activity that was net bearish. Specifically, the biggest transaction in terms of dollar volume were for the sale of $300 calls expiring June 20 of this year. There were other sold calls expiring on the aforementioned date with a strike price of $150.
Based on the premiums received, readers can infer that participating institutional traders do not anticipate Coinbase stock breaking above the $190 level. While this sounds pessimistic, <a href="https://www.benzinga.com/insights/options/25/03/44494635/looking-at-coinbase-globals-recent-unusual-options-activity">more recent options scans</a> show a gradual sentiment shift.
During the midweek session, the biggest non-neutral transaction was for the purchase of $5 calls with an expiration date of Dec. 19, 2025. These ultra-deep in-the-money (ITM) calls carried a premium (ask price) of $200.25. By adding this premium to the strike price, one can presume that participating traders anticipate Coinbase stock breaking above $205.25 before Dec. 19 — preferably significantly above $205.25 and well before Dec. 19.
Finally, it's worth pointing out that around the $175 level, Coinbase stock is trading on a long-term support line. Therefore, it wouldn't be out of the question for Coinbase shares to pop higher, if only as a dead-cat bounce.
<h1 class="wp-block-heading">Waiting for the Right Moment</h1>
As stated earlier, the death cross has yet to materialize, although that day could come at any moment, depending on the volatility of Coinbase stock. It's also worth pointing out that history isn't guaranteed to repeat. While Coinbase currently offers a "perfect" death cross record, there are no promises that the fourth edition will pan out favorably.
Nevertheless, assuming that Coinbase stock prints the death cross next week, a rebound could materialize by the options chain expiring May 2. Conservatively, the average return of the lower-performing death crosses comes in at nearly 19%, implying a price target of around $208. To be blunt, speculators have enticing avenues to consider.
For example, aggressive traders may consider the 200/205 bull spread. This transaction involves buying the $200 call (at a time-of-writing ask of $750) and simultaneously selling the $205 call (at a $550 bid). The proceeds from the short call partially offset the debit paid for the long call, resulting in a net cash outlay of $200. Should Coinbase hit the short strike price at expiration, the reward is $300, or a 150% payout.
For the same May 2 expiration date, ultra-aggressive traders could bump up the call spread's short strike to $210; that is, buy the 200/210 spread. This transaction involves a net cash outlay of $310, while the maximum reward rises to $690, or a blistering payout of almost 223%.
Read Next: <a href="https://www.benzinga.com/trading-ideas/long-ideas/25/03/44524353/hpe-stock-death-cross-contrarian-opportunity"> • Options Corner: Why Hewlett Packard Enterprise&#8217;s Death Cross Could Be A Contrarian Indicator</a>
Photo: rafapress on Shutterstock

Long Ideas

Options Corner: Coinbase's Crossroads — Bearish Signal Or Bullish Opportunity?

Macro analyst Capital Flows has identified Bitcoin&#8216;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) increasing correlation with traditional risk assets, particularly low-quality banks in the Russell index, as key to understanding its price trajectory in the <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44542682/bitcoin-crashes-below-84000-but-heres-why-experts-expect-stronger-sentiment-soon">current market environment</a>.
What Happened: &#8220;Bitcoin is having a greater convergence with traditional risk asset flows but remains at the far end of the risk curve,&#8221; Capital Flows stated in a <a href="https://x.com/Globalflows/status/1905343513971310915">thread</a> on X on Friday, noting that capital must move outward from less risky assets to reach Bitcoin.
This positioning explains why Bitcoin has been &#8220;moving lockstep with all of the lowest quality banks in the Russell&#8221; &#8211; both are highly sensitive to changes in macro liquidity conditions.
The analyst characterized the current macro backdrop as &#8220;neutral,&#8221; with interest rates having &#8220;come down marginally&#8221; but the carry trade continuing to create risk for assets while &#8220;the quantity of money in the system isn&#8217;t expanding like it used to.&#8221; 
Cross-currency basis swaps show no signs of a &#8220;massive injection of macro liquidity,&#8221; and year-to-date ETF flows remain &#8220;only marginally positive.&#8221;
For Bitcoin to reach the $100,000 range, Capital Flows emphasized the need for a &#8220;durable change in macro liquidity which isn&#8217;t taking place right now.&#8221; 
Without such a shift, another equity market decline could push Bitcoin down to the &#8220;$72-75,000 range&#8221; as implied volatility premiums increase.
The analyst highlighted Strategy&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) continued Bitcoin purchases as a positive factor, describing the company as &#8220;continuing to hit the bid and take on more risk to buy massive amounts of Bitcoin.&#8221; 
Both Strategy and Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) currently show an &#8220;implied volatility discount&#8221; after the recent market bounce, suggesting &#8220;upside is likely limited&#8221; from a positioning perspective.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44537514/bitcoin-tumbles-below-85000-is-the-bull-run-over">Bitcoin Tumbles Below $85,000: Is The Bull Run Over?</a>
What&#8217;s Next: Despite these short-term concerns, Capital Flows noted Bitcoin&#8217;s current 22% drawdown from all-time highs is &#8220;nowhere near as bad as it could be compared to historical parallels,&#8221; reflecting Bitcoin&#8217;s gradual integration &#8220;into the legacy financial system as a digital gold type of asset.&#8221;
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44506865/michael-saylors-unusual-bitcoin-plan-for-the-afterlife-making-everyone-richer-and-more-pow">Michael Saylor&#8217;s Unusual Bitcoin Plan For The Afterlife: &#8216;Making Everyone Richer And More Powerful&#8217;</a></li>
</ul>
Image: Shutterstock

Bitcoin, Strategy, Coinbase Feel The Heat From Stock Market Drawdown: 'Upside Is Likely Limited,' Analyst Says

Markets faltered on Friday, with Wall Street reeling as investors hurried to shed risk in the face of mounting <a href="https://www.benzinga.com/25/03/44537936/consumer-inflation-expectations-skyrocket-in-march-hit-highest-levels-in-32-years">inflation and tariff uncertainties.</a>
The S&amp;P 500 fell 2.1% by 1:30 p.m. trading in New York, on track to end the week with losses. The tech-heavy Nasdaq 100 tumbled 2.6%, and the Dow fell 1.7%. 
All members of the Magnificent Seven group were in the red, with Amazon.com Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) and Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) marking the widest drops, both down 4.4%.
Earlier on Friday, the Fed's favorite inflation gauge – the core Personal Consumption Expenditure price index – rose 2.8% on a yearly basis in February, surprising estimates of 2.7%. 
Investor anxiety deepened following the latest University of Michigan Survey of Consumers, which showed 5-year forward inflation expectations jumping to 4.1% — a 0.2-point increase from prior estimates and the highest reading since February 1993. As stocks fell in unison, a flight to safety ensued, sending gold up 1% to a record-breaking $3,090 per ounce. Treasury bonds also rallied, with yields declining across all maturities. 
Price action in commodities was mixed with oil down 1% and natural gas up 2.4%. Sentiment in crypto also took a sharp hit, with Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) down by 4% to below $84,000, flipping to weekly losses.
<h3 class="wp-block-heading">Friday's Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>Chg %</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,597.02</td>
<td>-1.7%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,574.84</td>
<td>-2.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,016.62</td>
<td>-2.3%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>19,283.98</td>
<td>-2.6%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:20 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://www.benzinga.com/pro/?utm_source=BZprocontent&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)&nbsp;fell 2.1% to $555.41.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;eased 1.8% to $415.31.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)&nbsp;dropped 2.7% to $468.61.</li>
<li>The&nbsp;iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>)&nbsp;fell 2.5% to $199.57</li>
<li>The&nbsp;Utilities&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) outperformed, up 0.9%; the&nbsp;Consumer Discretionary&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>)&nbsp;lagged, down 3.2%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Shares of Lululemon Athletica Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LULU#NASDAQ">LULU</a>) sunk 15% in reaction to the company&#8217;s earnings report. </li>
<li>Michigan-based automakers extended losses as investors asses the impact from tariffs. General Motors Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) fell 2% following a nearly 6% drop on Thursday. Ford Motor. Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) fell 2.7% after a 3.9% drop a day earlier.</li>
<li>Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) erased Thursday&#8217;s gains and fell 3.5%. </li>
<li>Crypto-related stocks plummeted, with Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) down nearly 10%. Coinbase Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) fell over 7%, heading for the lowest close since mid-October 2024. </li>
</ul>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/25/03/44541993/kinder-morgan-set-for-q1-growth-amid-rising-lng-demand-says-analyst">Goldman Sachs Forecasts High Gas Prices And LNG Demand Drive Kinder Morgan&#8217;s Revenue</a></li>
</ul>
Image created using artificial intelligence via Midjourney.

Macro Economic Events

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LULU

Select Sector SPDR-Consumer Discretionary

Inflation Fears Spark Risk-Off Sentiment As Magnificent 7 Drop: What's Driving Markets Friday?

Shares of Bitcoin miners and crypto-linked stocks are trading lower following greater-than-expected inflation data measured through the PCE price index for February, while personal spending missed estimates. Additionally, recent tariff announcements may be weighing on the space.

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Coinbase Global

Unusual Options Activity for

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BENZINGA GLOBAL

Date	Put/Call	Strike Price	Exp Date	DTE	Trade Vol	Day Vol	Vol / OI	OI	Trade Type	Sentiment
09:32 AMApr 01, 2025	PUT	$230.00	Apr 11, 2025	4	159	159	72	221	TRADE	NEUTRAL
02:34 PMMar 31, 2025	PUT	$175.00	Sep 18, 2026	529	100	100	588	17	TRADE	BEARISH
12:05 PMMar 31, 2025	PUT	$180.00	Apr 17, 2025	10	1255	342	28	4416	SWEEP	NEUTRAL
09:53 AMMar 28, 2025	PUT	$185.00	Jun 20, 2025	74	251	250	22	1138	TRADE	BEARISH
09:50 AMMar 28, 2025	CALL	$310.00	Dec 19, 2025	256	0	500	0	965	TRADE	NEUTRAL
02:29 PMMar 27, 2025	PUT	$190.00	Sep 19, 2025	165	250	250	70	357	TRADE	BULLISH
03:01 PMMar 25, 2025	CALL	$240.00	Jan 16, 2026	284	232	231	35	667	SWEEP	BULLISH
12:22 PMMar 25, 2025	PUT	$200.00	Apr 17, 2025	10	2068	1000	59	3481	TRADE	BULLISH