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Nvidia’s $406 Billion Drop This Week Makes Bitcoin Look Calm

(Bloomberg) -- Nvidia Corp. wiped out about $406 billion in value this week, weighing on key equity benchmarks as jitters spread over the health of the US economy and an AI trade that may have gotten ahead of itself.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItHow Americans Voted Their Way Into a Housing CrisisThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Chargin

Coinbase Upgraded As Both Presidential Candidates Show Crypto Support; Analyst Sees Resilience Amid Regulatory Changes

Barclays analyst Benjamin Budish upgraded Coinbase Global, Inc. (NASDAQ:COIN) from Underweight to Equal-Weight, lowering the price forecast from $206 to $169. The analyst notes that the regulatory landscape is improving, with presidential candidates showing greater support for crypto and the approval of several spot crypto ETFs. This favorable environment has helped Coinbase’s revenues remain resilient. The analyst acknowledges ongoing risks for Coinbase, such as fee compression in retail and pr