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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