Goldman Sachs Significantly Lowers Coinbase Stock Target Price to $235

Odaily News According to reports on a new draft stablecoin bill, Goldman Sachs has significantly lowered Coinbase's target stock price from $270 to $235. Coinbase has been one of the active advocates for stablecoin rewards. Its CEO, Brian Armstrong, has repeatedly stated that allowing the use of stablecoins is crucial for U.S. citizens to "make their money earn more." However, the draft CLARITY Act mentions that it will prohibit platforms from providing yields to stablecoin holders "directly or indirectly," leading to a pullback in the stock prices of Coinbase and Circle. (TheStreet)