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Coinbase Stock Drops Amid SEC Lawsuit Settlement and Platform Outage

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Coinbase Global's stock price has dropped to $160.54, down 3.39% on the session.

The platform resolved its Freedom of Information Act lawsuit with the SEC, receiving a payment of $150,000 and prompting recordkeeping reforms at the regulatory body.

Additionally, Coinbase experienced a temporary outage on July 14 due to an infrastructure update, although customer funds were not affected.

The technical signals for COIN are mixed, with momentum indicators pointing to both strong buy and neutral conditions. The Ichimoku Kijun sits at $168.25 as immediate resistance.

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