Coinbase, Robinhood Upgraded by Barclays Analyst, Citing 'Matured' Business Models

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Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

Coinbase, in particular, could profit from a friendlier regulatory environment as a result of the presidential election in November, Barclays said.

According to Barclays analyst Benjamin Budish, both companies have “matured meaningfully,” particularly because of their product expansion and more positive financial outlook. The crypto industry has been through a lot since the collapse of FTX and some other then-major crypto companies in 2022 and 2023, but Coinbase has been resilient, the report stated. Budish applauds the company for keeping costs low, specifically related to its workforce even as activity has picked up in 2024.

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