Coinbase Risks Crypto 'Cannibalization' With Prediction Market Push: Mizuho

The money has to come from somewhere. And when it comes to prediction markets, that could be an issue for Coinbase relative to competitors, according to a survey detailed in a Tuesday note from Mizuho Securities. After fielding responses from more than 230 Coinbase and Robinhood users, analysts at the investment banking firm found that 50% of the retail brokerage’s customers plan to fund prediction market wagers with fresh cash, compared to 37% at the crypto exchange. Although 37% of surveyed users indicat ...