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Coinbase (COIN) up $6.54 to $149.06, a 4.59% gain after announcing tokenized OpenAI and Anthropic pre‑IPO products; stock still near its 52‑week bottom.
Coinbase Global (COIN) jumped $6.54, or 4.59%, to close at $149.06 on the latest session, before slipping $0.16 in after‑hours trade. The move comes as the exchange rolled out tokenized pre‑IPO offerings tied to OpenAI and Anthropic, a step aimed at diversifying revenue beyond the volatile crypto‑trading business【1】.
| At a glance | |
|---|---|
| Price | $149.06 (close) |
| 24‑h change | +4.59% |
| Key level | Near bottom of 52‑week range, below 200‑day SMA |
| Catalyst | Launch of tokenized OpenAI & Anthropic pre‑IPO products |
Coinbase announced a new suite of blockchain‑based pre‑IPO contracts that give retail investors exposure to high‑growth AI firms such as OpenAI and Anthropic. The company frames the offering as a way to “democratize private‑market access” and to reduce reliance on the cyclical crypto‑trading volumes that dominate its core business【2】. By tokenizing private securities, Coinbase hopes to capture a new, recurring revenue stream and position itself as a broader digital brokerage.
Coinbase’s market capitalization sits at $39.27 billion, placing it in the large‑cap tier. Total revenue for the trailing twelve months reached $7.18 billion, up 9.4% year‑over‑year and more than double the $1.46 billion recorded in the most recent quarter【1】. Net income remains mixed, with a full‑year profit of $1.26 billion but a quarterly loss of $394 million, while earnings per share fell from $4.45 to a negative $1.49 year‑to‑date【1】. The stock now trades at a price‑to‑earnings multiple of roughly 52, far above the industry average of about 10【2】, underscoring an expensive valuation relative to peers.
Coinbase’s AI pre‑IPO push mirrors moves by rivals expanding into alternative assets. Robinhood and Interactive Brokers have both added crypto‑derivative products, intensifying competition for retail and institutional trading flow. The AI offerings could help Coinbase differentiate its platform by adding non‑crypto assets to its product mix, though the impact on overall trading volume remains to be seen【2】.
The price surge highlights investor optimism that Coinbase can evolve from a pure crypto exchange into a diversified digital brokerage. Whether the AI pre‑IPO products can offset the inherent volatility of crypto markets—and justify the lofty valuation—remains an open question.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jun 28, 2026 · How we report
A sequencer bug that left stale journal state after an invalid transaction and a race condition after a system reset prevented block production, leading to two outages.
The first outage lasted 116 minutes and the second lasted 20 minutes.
Coinbase states it does not use or lend customers' assets without permission and runs a risk management program to protect them.
Coinbase One members receive zero trading fees, boosted rewards, priority support, and other benefits.
Base secures just under $11 billion, making it the second-largest layer-2 network by total value secured.