Coinbase Global (COIN) Will Acquire Derivatives Clearinghouse, The Clearing Company, Reports Bloomberg

Group 1 - Coinbase Global, Inc. (NASDAQ:COIN) is acquiring The Clearing Company, a derivatives clearinghouse, to enhance its entry into the prediction markets business [1][2] - The acquisition aligns with Coinbase's strategy to evolve into an "Everything Exchange," which includes new offerings in equities trading and prediction markets [3][4] - The Clearing Company utilizes digital ledger technology for trade clearing and settlement in stablecoins, enabling instant settlement [2] Group 2 - Cantor Fitzgerald has reduced its price target for Coinbase's stock from $459 to $320 while maintaining an "Overweight" rating, citing the company's transition beyond traditional crypto trading [3] - Despite positive product announcements, near-term revenue and profitability estimates have been lowered due to declining crypto sentiment [4] - The consensus volume expectations for 2026 are projected at 14%, but this may be overly optimistic if a prolonged downturn in the crypto market occurs [4]