Claim BonusCoinbase (COIN) Shares Under Selling Pressure After Bermuda Expansion
Coinbase (COIN) shares continue to be under selling pressure amid heated discussions with the U.S. Securities and Exchange Commission (SEC) after recent regulatory crackdowns. Coinbase CEO Brian Armstrong is considering leaving the U.S. due to a lack of clear regulatory clarity.
COIN shares price skyrocketing over 100% this year from an all-time low gave some confidence to its investors and shareholders. COIN price has rallied from $33 to $84 year-to-date. However, Coinbase stock price continues to be under pressure amid downgrades, continued quarterly losses, and regulatory scrutiny.
Coinbase (COIN) stock price fell 4.19% to $64.44 on Wednesday, continuing its downfall of over 15% in a month. COIN stock price fell 1.44% to $63.51 in after-market hours, indicating a further fall in COIN shares prices, as per Yahoo Finance.
Coinbase’s offshore expansion plan to Bermuda and Abu Dhabi spurred fresh fears for investors. Analysts have downgraded COIN stock due to a decline in trading volumes despite Bitcoin price recovery and increasing operating expenses. Coinbase relied on layoffs to decrease its operating expenses. Traders anticipate further downfall in Coinbase stock price amid current market conditions.
Coinbase Bermuda and Abu Dhabi Expansion
Investors are disappointed after Coinbase announced that it has received a license in Bermuda. While the tax havens offered by Bermuda will increase Coinbase’s profits, moving out of the U.S. will be difficult for the firm. Coinbase Bermuda Ltd obtained a Class F License under the Digital Asset Business Act from the Bermuda Monetary Authority (BMA).
Moreover, Coinbase is seeking a license from the Financial Services Regulatory Authority (FSRA) in Abu Dhabi Global Market (ADGM) as part of the global expansion plan. The crypto exchange is actively expanding in Europe ahead of passing MiCA regulation by the European Parliament.
Meanwhile, investors question the U.S. SEC about why Coinbase was approved to go public in the country if it believes the exchange is operating illegally. The SEC believes all crypto are securities.
Also Read: Ethereum (ETH) Price Drops Under $2,000 As Dormant Whales Dump, Here’s Why It Can Recover Fast
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Bitcoin Crashes to $72k as U.S.–Iran Tensions Rise After Talks Collapse
- Bringing Compute Power to the Masses in a Sustainable, Decentralized Manner
- Bitcoin Reserve: U.S. Treasury Rules Out BTC Buys as GOP Senators Push For Use Of Gold Reserves
- Epstein Files: How Jeffrey Epstein Had Ties to Bitcoin and Crypto’s Early Development
- Crypto Market Continues to Plunge, Could 2026 Be the Worst Year?
- Dogecoin Price Prediction After SpaceX Dogecoin-Funded Mission Launch in 2027
- Solana Price Crashes Below $95 for the First Time Since 2024: How Low Will SOL Go Next?
- Ethereum Price Eyes a Rebound to $3,000 as Vitalik Buterin Issues a Warning on Layer-2s
- Pi Network Price Outlook as Bitcoin Faces a Strong Sell-Off Below $80k
- Bitcoin Price Prediction As US House Passes Government Funding Bill to End Shutdown
- Ondo Price Prediction as MetaMask Integrates 200+ Tokenized U.S. Stocks
