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JPMorgan Upgrades Coinbase, Sees Potential $34 Billion Opportunity in Base Token

JPMorgan has upgraded Coinbase from neutral to overweight, raising its price target from $342 to $404. The bank cites reduced risks for the company and attractive valuations compared to competitors in the crypto space. JPMorgan estimates that a potential Base token, linked to Coinbase's Layer 2 blockchain, could add between $4 billion to $12 billion in value to the company, with an overall market cap of up to $34 billion. This move could encourage community engagement and infrastructure development. Additionally, improvements in USDC monetization could yield about $1 per share increase in earnings. Despite ongoing competition from decentralized exchanges (DEXs), JPMorgan remains optimistic about Coinbase’s integrated approach across brokerage, market making, exchange, and custody services, suggesting this will aid in maintaining profitability. Analysts have valued Coinbase at 50 times projected earnings for 2027, including the anticipated effects of the Base token.

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Bank of England Probes Data Mining Lending Fueling AI Bets

The Bank of England (BOE) is investigating the rise of lending to data centers, which is being seen as a speculative avenue in the AI sector. A recent report from Bloomberg indicates that the BOE is concerned about the potential for a financial crisis akin to the dot-com bubble of

Ripple Explains How Its New Prime Brokerage Will Expand RLUSD Adoption and Utility

Ripple has rebranded the acquired global prime broker Hidden Road as Ripple Prime, presenting it as an all-in-one service for institutional trading, financing, and clearing. Since the acquisition, Ripple Prime's business has tripled, now serving over 300 institutional clients and facilitating more than $3 trillion in cleared transactions.

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