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On December 19th, the State Administration for Market Regulation issued the "Guidelines for Compliance of Pricing Behavior of Urban Water, Electricity, and Gas Supply Utilities," further regulating the pricing behavior of urban public utilities. The pricing behavior of these utilities directly affects the vital interests of the people and the order of fair market competition. Addressing issues that have drawn strong public criticism, such as failure to comply with government-set prices, passing on operating costs, and charging unreasonable fees, the "Guidelines" clarify the purpose, scope of application, and price definitions. It emphasizes that the pricing behavior of water, electricity, and gas supply utilities must comply with laws, regulations, rules, and relevant policies. The guidelines guide water, electricity, and gas supply utilities and their affiliated or entrusted engineering and installation companies to conduct pricing activities in accordance with laws and regulations, protecting the legitimate rights and interests of users and promoting the healthy and sustainable development of the water, electricity, and gas supply industries. This includes clarifying the operating principles of public utilities, strictly implementing price standards, standardizing pricing behavior for self-priced projects, establishing and improving internal systems, and strengthening risk management.On December 19th, Russian President Vladimir Putin stated that "European political elites siding with the Democratic Party" interfered in the 2024 US presidential election. At his annual press conference, Putin explained that direct European interference in the US election was "obvious, conspicuous, and open." He emphasized that the continental European elites support Kamala Harris, therefore the current state of relations between EU officials and US President Trump is "not surprising." Putin denied allegations of Russian interference in the 2016 US election, noting that "all congressional investigations have come to nothing." On the other hand, Europeans supported Harris "quite directly, even brazenly."Federal Reserves Williams: I think interest rates will eventually fall.Federal Reserves Williams: The Feds current asset purchases are not intended to influence long-term interest rates.Federal Reserves Williams: The Federal Reserve is buying bonds to meet its demand for bank reserves.

COIN Stock Alert: Coinbase Falls on Reports of Withdrawal Delays

Skylar Shaw

Sep 02, 2022 14:38

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The recent run for Coinbase (NASDAQ:COIN) shares has not been smooth, and things aren't looking much better on Thursday. The announcement that the business is now looking into a network problem that is delaying deposits and withdrawals sent the price of COIN shares down around 5% for the day.


The organization said yesterday that it has resolved delays "in processing ETH/ERC-20 deposits on Coinbase.com and Coinbase Pro." Without giving much information, it is now experiencing a different problem with another outage.


Of course, having problems today is not a good thing. Prices for Bitcoin (BTC-USD) are falling, and the whole market is also suffering.


Coinbase has been having trouble overall. Shares have lost almost 75% of their value thus far this year, with a 90.5% loss from peak to trough. In spite of the fact that COIN stock had risen from its 2022 low, almost doubling at one time, it has suddenly dropped by about 50% over the last four weeks.

What Will Happen to COIN Stock?

The business announced its second-quarter profits on August 9. As sales decreased by more than 60% year over year, Coinbase fell short of revenue and profit projections. Since then, COIN stock has been under pressure and has decreased in 13 of the last 18 sessions.


However, according to JPMorgan analyst Kenneth Worthington, Coinbase received some positive news a few weeks ago. According to him, Coinbase will "meaningfully benefit" from the Ethereum Merge.


According to daily trade volume, Worthington said that Coinbase is America's biggest bitcoin exchange. He thinks that because of the company's excessive exposure to Ethereum, it is well-positioned for a greater revenue potential (ETH-USD). With regard to ether assets, Coinbase has "a bigger market share (15%) than the 7% share it holds in the broader crypto ecosystem."


Additionally, he predicts that "incremental yearly staking income from the ether merging will be $650M assuming an ETH price of $2K and a 5% ETH return"

Of sure, this is a plus, but does it really matter?

Currently, it is probable that investors will pay attention to the equity bear market, Coinbase's price movement and financial results, and the development in cryptocurrencies. Although Worthington's claim could be valid, the current trend is alarming.

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