Coinbase Still the ‘Blue Chip Way’ to Gain Crypto Growth Exposure, Goldman Says

Coinbase Still the ‘Blue Chip Way’ to Gain Crypto Growth Exposure, Goldman Says
Shares of Coinbase have fallen around 45% after earnings alongside a similar sized fall in crypto market cap, due to expectations of higher interest rates and the selloff in “longer duration, high growth related assets,“ Goldman Sachs said in a research note published on Wednesday.The bank continues to see Coinbase as the “blue chip way” to gain exposure to the ongoing development of the crypto ecosystem, adding that further progress on new revenue initiatives could lead the stock to “outperform its beta to crypto prices,” analysts led by Will Nance wrote in the report.Despite the recent volatility in the crypto…