Coinbase Global Inc. (NASDAQ:COIN) is one of the most profitable large cap stocks to buy right now. On November 21, Goldman Sachs lowered the firm’s price target on Coinbase to $314 from $368 with a Neutral rating on the shares. According to the firm, shares of brokers and crypto-related stocks have collectively fallen by ~15% since mid-October. This decline occurred despite the companies having higher forward earnings estimates. Goldman Sachs believes that this near-term pressure will continue until mark ...

Crypto firms have been some of the biggest names that have flocked to this year’s IPO market, but major US exchange Kraken (KRAK.PVT) is one industry firm that’s in no hurry to dive into that world. “We have enough capital on our balance sheet today as a private company, and we don’t want to race to the door as quickly as possible,” Arjun Sethi, Kraken’s co-CEO, said during an interview at Yahoo Finance’s Invest event. Sethi said he’s also wary of any kind of perception that the company should go public ...

Core Insights - WazirX has received court approval for its debt restructuring plan, allowing it to reopen after a significant cyberattack that resulted in the theft of $234 million [1][3] - The Singapore High Court's approval came after 95.7% of voting creditors supported the amended scheme during a revote [1][5] - The platform is expected to restart operations within 10 business days following the legal effectiveness of the scheme [2] Company Developments - The restructuring marks one of the fastest recoveries in the global crypto industry despite the challenges faced [3] - WazirX's 6.6 million users have been unable to access their funds since the hack, which was linked to North Korean hackers [3] - The exchange aims to distribute recovery tokens, potentially allowing users to recover 75% to 80% of their account balances at the time of the hack [5] User Impact - Users have expressed frustration over the prolonged inability to access their funds, highlighting the need for transparency and timely execution in the recovery process [4] - The restructuring's success is crucial for users to regain access to their frozen crypto assets [4][5] Legal Context - The restructuring plan faced initial rejection by the Singapore High Court in June but was later approved after a revote in July [5] - Only 3.3% of creditors participated in the first vote, leading to the modification of the scheme [6] - The Delhi High Court has also ruled that CoinSwitch can secure its stolen assets held on WazirX, indicating ongoing legal scrutiny [6]

Company Overview - Coinbase Global, Inc. is valued at $96.6 billion and operates the world's largest crypto trading platform, with a presence in North America and internationally [1] - The company provides a primary financial account for consumers in the crypto economy, a brokerage platform for institutions, and products for developers to build onchain [1] Earnings Expectations - Analysts expect Coinbase to announce an adjusted profit of $1.04 per share for Q3, representing a 67.7% increase from $0.62 per share in the same quarter last year [2] - For the full fiscal year 2025, earnings are projected to be $4.30 per share, down 43.4% from $7.60 per share in 2024, with a subsequent growth of 33.3% to $5.73 per share in fiscal 2026 [3] Stock Performance - Coinbase's stock has increased by 130.9% over the past 52 weeks, significantly outperforming the Financial Select Sector SPDR Fund's 18% and the S&P 500 Index's 17.4% gains during the same period [4] - However, the stock experienced a 16.7% drop in a single trading session following disappointing Q2 results, where total transaction revenues fell by 39.5% quarter-on-quarter and 2.1% year-on-year to $764.3 million [5] Financial Results - In Q2, Coinbase's net revenues increased by 3.3% year-over-year to $1.5 billion, but this was below consensus estimates by 49 basis points [5] - The adjusted net income for Q2 plummeted by 88.7% year-over-year to $33.2 million, with adjusted EPS of $0.12 falling 89.9% below expectations [5] Analyst Ratings - The consensus rating for Coinbase remains cautiously optimistic, with a "Moderate Buy" overall; among 33 analysts, there are 15 "Strong Buys," one "Moderate Buy," 14 "Holds," and three "Strong Sells" [6] - The stock is currently trading above its mean price target of $381.22 [6]

Crypto Market Trends - Crypto ETPs recorded record $6 billion weekly inflows [1] Company Initiatives - Galaxy launched new crypto and stock trading platform [1]

Sports & Crypto Trading Platform - Crypto.com Sports 关注棒球季后赛，特别是分区系列赛（DS）[1] - 平台提供赛前和实时交易合约[1] - 用户可以随时平仓以锁定利润或限制损失[1] - 平台支持使用现金或加密货币进行交易[1]

Core Insights - Florida Attorney General James Uthmeier has launched an investigation into Robinhood Crypto for allegedly violating the state's Deceptive and Unfair Practices Act by misrepresenting its platform as the most affordable for buying crypto [1][8] - Robinhood has faced increasing regulatory scrutiny, including an investigation by Lithuania's central bank regarding its tokenized equity products [2][8] - The company has incurred significant fines, totaling over $70 million this year, and has previously settled allegations with the Financial Industry Regulatory Authority for $26 million and $45 million for various violations [3][8] Regulatory Environment - Robinhood operates in a highly regulated industry, exposing it to regulatory risks that can lead to substantial fines and restrictions impacting profitability [4] - Other financial firms like Charles Schwab and LPL Financial have also faced legal challenges, indicating a broader trend of regulatory scrutiny within the industry [5][6] Financial Performance - Robinhood's stock has experienced a significant increase of 164.9% year-to-date, outperforming the industry growth of 17.6% [7] - The company currently trades at a forward price-to-earnings ratio of 71.40, which is considerably higher than the industry average [10] - The Zacks Consensus Estimate predicts year-over-year earnings growth of 13.8% for 2025 and 22.2% for 2026, with recent upward revisions for 2025 estimates [11]