Coinbase’s ETF Clarity Questioned By JPMorgan; Dogecoin Rival Could Surge 110%, Analyst Suggests
The post Coinbase’s ETF Clarity Questioned By JPMorgan; Dogecoin Rival Could Surge 110%, Analyst Suggests appeared on BitcoinEthereumNews.com.
The crypto market is currently facing a dilemma, with several analysts questioning Coinbase. One of the top critics is Kenneth Worthington of J.P. Morgan, who is casting some serious shade, questioning whether the benefits are all they’re cracked up to be. JPMorgan’s Skepticism Worthington’s main gripe? Coinbase is being coy about the exact financial impact of these ETFs. While the exchange touts its involvement as a win, the analyst sees both pros and cons, and he’s not shy about calling out Coinbase’s lack of transparency. He wants more details on the economics of these ETF arrangements, particularly the custodial services Coinbase provides for eight of the ten Bitcoin ETFs. This lack of clarity leaves Worthington skeptical about the true earning power of these ETFs and their ability to outweigh potential losses in the spot market. But hey, don’t write off Coinbase just yet. The crypto exchange did crush Wall Street’s expectations in their Q4 report, sending their shares skyrocketing and turning some analysts bullish. So, the jury’s still out on this one. Dogecoin’s Meteoric Rise In the midst of this skepticism, Dogecoin, often hailed as the best memecoin, continues to capture the attention of investors worldwide. Created in 2013 by Billy Markus and Jackson Palmer, Dogecoin’s lighthearted origins as a playful homage to the popular “doge” meme belied its meteoric rise in the cryptocurrency market. With Tesla CEO Elon Musk openly endorsing Dogecoin as his favorite coin, the memecoin has garnered a loyal following and achieved a level of mainstream recognition unparalleled in the crypto sphere. Rebel Satoshi: The Meme Coin Challenger Prepares for Liftoff Now, let’s shift gears to the altcoin arena, where a new challenger is rising to the memecoin throne: Rebel Satoshi. This project has been building serious momentum, with each presale round selling out faster than…
Filed under: News - @ February 21, 2024 7:18 pm