Coinbase Shares Extend Losses as It Expands Into New Metal Futures
Coinbase’s stock continued to decline, hitting its lowest level since May last year, despite the company expanding into copper and platinum futures trading alongside existing gold and silver contracts. Shares have fallen over 10% year-to-date and are down 46% from the July all-time high, reflecting broader uncertainty in crypto markets and investor sentiment toward high-risk assets. While Bitcoin has stabilized above $88,000, Coinbase’s move into metals futures is seen as a tactical effort to diversify its product offerings, but analysts caution that this is unlikely to significantly buffer the business against crypto volatility. Additionally, most deep metals liquidity remains with established platforms like CME, making Coinbase’s metals offerings more of a user retention feature. Regulatory uncertainty, particularly regarding stablecoin legislation and associated high-margin income, continues to weigh heavily on Coinbase’s outlook and investor sentiment.
