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Coinbase Stock Dives Amid Uncertainty Over Senate Crypto Bill

Guavy AI Editorial Team
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Coinbase's stock price dropped by 3% on Friday as investors await the fate of the Senate's Clarity Act, a bill aimed at establishing comprehensive regulatory guardrails for digital currencies.

The legislation faces a critical vote before lawmakers break for their August 7 recess, but Democratic lawmakers are stalling due to concerns over President Trump's $1 billion crypto investment portfolio.

Wall Street analysts have slashed price targets, with Barclays reducing its projection from $107 to $99 and maintaining an 'underweight' stance. The aggregate analyst view currently stands at 'Hold' with a mean price objective of $239.14.

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