Due to the exchange’s ongoing legal battle with US regulators, Citi has downgraded Coinbase stock to “neutral.” The stock will remain under pressure until regulators establish the legal “rules of the road” in the US, according to Citi analyst Peter Christiansen. On YouTube, the chief executive officer of Coinbase, Brian Armstrong, and the chief legal officer, Paul Grewal, responded to the March Wells notice. The latest SEC developments, according to the analyst, don’t indicate that the parties are close to reaching a settlement.
Coinbase stock will be ‘weighed down’ until US rules are clear: Citi
