tl;dr
```html Shares in cryptocurrency exchange Coinbase Global (NASDAQ:COIN) fell 8.4% in Thursday afternoon trading following a media report that CME Group (NASDAQ:CME) is planning to start bitcoin (BTC-USD) trading in hopes of profiting from the increasing demand from money managers to add exposure to ...
```html Shares in cryptocurrency exchange Coinbase Global (NASDAQ:COIN) fell 8.4% in Thursday afternoon trading following a media report that CME Group (NASDAQ:CME) is planning to start bitcoin (BTC-USD) trading in hopes of profiting from the increasing demand from money managers to add exposure to crypto. The world's largest futures exchange has been holding talks with traders who want to trade cryptocurrency on a regulated marketplace, The Financial Times reported, people with direct knowledge of the discussions. CME (CME) stock rose 1.8%. If the plan is finalized, it would represent further inroads by Wall Street firms into digital assets after the U.S. Securities and Exchange Commission's approval of spot bitcoin ETFs in January. The move would make it easier for investors to make so-called basis trades, the FT said. Basis trades involve using borrowed money to sell futures while buying the underlying asset in order to profit from the small gap between the two. It would also create more competition for dedicated crypto exchanges like Binance and Coinbase (COIN). Bitcoin (BTC-USD) slipped 0.5% to ~$64.8K on Thursday, staying well below its $73K peak in March. ```
More about Coinbase Global Inc
Stock Analysis: Coinbase Global Inc Summary of Analysis
Company: Coinbase Global Inc
Description: Coinbase Global, Inc. provides financial infrastructure and technology for the crypto economy. The company is headquartered in Wilmington, Delaware.
Sector: Finance
Industry: Finance Services
Market Cap: 48993530000
Current Price: $39.66
Dividend Yield: None
Price/Earnings Ratio: 5.12
Return on Equity: 15.83%
Beta: 0.357
Revenue: 3777835000
EPS: $258.75
Net Income: 3.27
Debt/Equity Ratio: 1.156
More about CME Group Inc
CME Group Inc. (Chicago Mercantile Exchange, Chicago Board of Trade, New York Mercantile Exchange, The Commodity Exchange) is an American global markets company. It is the world's largest financial derivatives exchange, and trades in asset classes that include agricultural products, currencies, energy, interest rates, metals, stock indexes and cryptocurrencies futures.
Industry: FINANCE, SECURITY & COMMODITY BROKERS, DEALERS, EXCHANGES & SERVICES
Market Cap: 749.87 billion
Current Price: $23.69
Price Change (1 Yr): 4.45
Dividend Yield: 8.79%
P/E Ratio: 15.64
Beta: 0.569
Volume: 5,615,500,000
52-Week Range: $227.54
EPS (TTM): -0.033
Revenue (TTM): $0.032 billion
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