Citigroup has significantly lowered its price target for Coinbase to $400, but still maintains a buy rating.

Citigroup has significantly lowered its price target for Coinbase stock from $505 to $400, primarily due to declining risk appetite in the crypto market, weaker trading volumes, reduced institutional trading activity, and uncertainty surrounding the progress of US crypto market legislation. Coinbase's stock price has already retreated approximately 65% ​​from its all-time high of around $450, but the new price target still represents more than double the current closing price of around $146. However, Citigroup maintains its "Buy/High Risk" rating on Coinbase, believing the company remains an industry leader and is poised to benefit in the long term from a more robust US crypto regulatory framework. (CoinDesk)