Public Keys: Copycat Lawsuits for Bitcoin Giant Strategy, Coinbase Hits All-Time High
Bitcoin treasury champion Strategy, formerly MicroStrategy, faces at least five identical class action lawsuits for allegedly misrepresenting risks in its BTC buying plans. Law firms file these suits to signal interest in leading a consolidated case, with courts selecting a lead plaintiff based on investment stakes. The potential legal fees for successful cases can reach tens of millions. Strategy's Bitcoin treasury is valued at $63.3 billion, surpassing the gold hoard of Smaug from Tolkien lore. Coinbase reached a new all-time high closing price of $375.07, with analysts from Benchmark and Bernstein setting price targets of $402 and $510, respectively. Coinbase plans to launch U.S.-regulated perpetual futures for Bitcoin and Ethereum next month, responding to high trading demand. The Ethereum layer-2 network Base has added Cardano and Litecoin to its wrapped assets, enhancing access to Ethereum's decentralized finance ecosystem.
