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JPMorgan downgrades Coinbase to neutral from overweight

June 14, 2022
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JPMorgan downgraded Coinbase to neutral from overweight and lowered its price target to $68 from $171.

JPMorgan estimates that Coinbase’s trading volume will drop by more than 30% in the second quarter after a 40% drop in the first quarter.

Coinbase currently has about 5,000 employees.

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