Just In: Wells Fargo Flags Major Concerns Over Coinbase

Wells Fargo, a multinational financial services company has flagged a major concern against Coinbase, which can lead to a dip in the Crypto exchange share prices.

According to CNBC, Wells Fargo initiates Coinbase with an underweight. The firm has cited increasing macroeconomic pressures as the possible negative catalysts. Coinbase is currently trading at $65.29. It is down by 3% in premarket trading.

Wells Fargo stated that they believe in the value of the crypto exchange. However, the firm sees the early mover advantage but now that has been eroded due to competition.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.