Coinbase Slides as Hot Jobs Report Dents 10% Rally - Coinbase Global (NASDAQ:COIN)

Coinbase Global shares fell about 4% Friday, giving back part of Thursday’s 10.1% surge after a stronger-than-expected US jobs report revived expectations for a Federal Reserve rate hike. The stock closed Thursday at $192.70, as easing rate fears had lifted risk assets, including Bitcoin, which slipped back below $80,000. The US added 162,000 jobs in August, and July payrolls were revised upward. Treasuries yields jumped. Coinbase’s fundamentals remain under focus: 88% of Q2 net revenue came from outside Bitcoin spot trading, with prediction-market activity more than doubling. Analysts were split, with Goldman targeting $196 and keeping a Buy rating and Barclays listing a $95 Underweight. Stablecoin revenue also faces pressure from lower average rates, though higher USDC balances helped offset declines.