DeFi Daily News
Tuesday, July 1, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home DeFi Web 3

rewrite this title Coinbase Sags After Dual Blow of Supreme Court Decision, Ark Share Sale – Decrypt

Stacy Elliott by Stacy Elliott
July 1, 2025
in Web 3
0 0
0
rewrite this title Coinbase Sags After Dual Blow of Supreme Court Decision, Ark Share Sale – Decrypt
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


rewrite this content using a minimum of 1000 words and keep HTML tags

In brief

Coinbase stock dropped 1.35% to $345.79 the day after the Supreme Court declined to hear its appeal challenging IRS access to user transaction data without specific targets.
ARK Invest sold $95 million worth of COIN shares on Monday as part of a portfolio rebalancing across three ETFs, creating selling pressure.
Despite recent setbacks, the stock has doubled from April through June.

Crypto exchange Coinbase rallied briefly, then dove 2.1% while reeling from the dual blow of U.S. Supreme Court decision on Monday and a fund rebalancing that saw Cathie Wood’s ARK Invest unload $95 million worth of shares.

The company’s shares were recently trading for $345.79, down 2.1% in midday trading.

The Supreme Court declined to hear Coinbase’s appeal in Harper v. Faulkender, which would have challenged a “John Doe” summons from the IRS to review user transaction data—without identifying who or what it’s looking for.

Coinbase and privacy advocates were hoping the high court would revisit its “third-party doctrine” and grant crypto exchanges the same kind of carve-out extended to cell phone service companies for clients’ call data.

The company was also addressing the aftermath of noted Bitcoin enthusiast Cathie Wood’s firm ARK Invest selling a hefty $95 million worth of COIN on Monday as it rebalanced several of its ETFs.

The company unloaded 77,956 shares from its flagship ARK Innovation ETF, or ARKK; 29.802 worth of COIN from its ARK Next Generation Internet ETF, or ARKW; and 17,134 shares from its ARK Fintech Innovation ETF, or ARKF.

Managed funds periodically buy and sell assets to rebalance their portfolios, not necessarily because they’ve soured on a company. Still the sum represents significant selling pressure.

The Coinbase stock, which trades on the Nasdaq under the COIN ticker, just notched an otherwise strong Q2. COIN shares more than doubled from their April 1 open of $172.82 through their June 30 close of $350.49.



Just last week, COIN hit a new all-time high close of $375. Leading up to the new high water mark, Benchmark analysts called the company “transformative” and gave it a $402 price target. And Bernstein analysts said COIN is “misunderstood,” setting an even loftier price target of $510.

William Blair analyst A. Jeffrey said he expects the company will post a $1.33 per share gain when it reports earnings. The company’s next earnings call is scheduled for early August, according to a Zacks Investors Research estimate on Nasdaq.

Edited by James Rubin

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website http://defi-daily.com and label it “DeFi Daily News” for more trending news articles like this



Source link

Tags: ArkBlowcoinbaseCourtdecisionDecryptDualrewriteSagssaleShareSupremetitle
ShareTweetShare
Previous Post

rewrite this title What is Solana (SOL)? How It Works, What It Does, and Why It’s So Fast

Next Post

rewrite this title Deadspin | Agents: Dolphins deal with Giants for retired TE Darren Waller

Next Post
rewrite this title Deadspin | Agents: Dolphins deal with Giants for retired TE Darren Waller

rewrite this title Deadspin | Agents: Dolphins deal with Giants for retired TE Darren Waller

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – alt=

rewrite this title SEI Leads Crypto Market With 43% Weekly Surge – $0.5 Reclaim In The Horizon?

June 28, 2025
rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

rewrite this title High Season, High Stakes: Navigating Summer Risks in Property Management

June 27, 2025
They’re Going ALL IN on Crypto: This is What Wall St is Buying!

They’re Going ALL IN on Crypto: This is What Wall St is Buying!

June 25, 2025
rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

rewrite this title ‘FIFA Rivals’ Review: Should You Play This NFT Soccer Game? – Decrypt

June 28, 2025
rewrite this title with good SEO Bitcoin Could Explode On Bessent’s 0 Billion Deregulation Shock

rewrite this title with good SEO Bitcoin Could Explode On Bessent’s $250 Billion Deregulation Shock

May 28, 2025
Configuring Web3j for Android Development

Configuring Web3j for Android Development

July 24, 2024
rewrite this title ‘Talk To Me’, ‘Deadloch’ & ‘The Newsreader’ Creators Set For Australia’s Future Vision

rewrite this title ‘Talk To Me’, ‘Deadloch’ & ‘The Newsreader’ Creators Set For Australia’s Future Vision

July 1, 2025
rewrite this title X opens up to Community Notes written by AI bots

rewrite this title X opens up to Community Notes written by AI bots

July 1, 2025
rewrite this title Bitcoin dips to 5k on Q3 open despite record monthly close

rewrite this title Bitcoin dips to $105k on Q3 open despite record monthly close

July 1, 2025
rewrite this title with good SEO Tron Shows Adoption Strength As Volume Still Led By Big Transfers – Details

rewrite this title with good SEO Tron Shows Adoption Strength As Volume Still Led By Big Transfers – Details

July 1, 2025
rewrite this title and make it good for SEOStocks to Track: Asian Paints, Grasim, Lupin, Paras Defence, MOIL, other scrips to be in focus on July 2

rewrite this title and make it good for SEOStocks to Track: Asian Paints, Grasim, Lupin, Paras Defence, MOIL, other scrips to be in focus on July 2

July 1, 2025
Joe Rogan Experience #2343 – Joe Pistone

Joe Rogan Experience #2343 – Joe Pistone

July 1, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.