Coinbase Acquires Prediction Market Startup Led by Former Polymarket Executive to Boost Its 'Exciting' Business Goals
Coinbase's Acquisition: Coinbase Global Inc. has acquired prediction market startup The Clearing Company to enhance its offerings in the prediction market sector, which is part of its broader strategy known as the Everything Exchange.
Funding and Leadership: The Clearing Company, which raised $15 million in venture funding, is led by Toni Gemayel, a former executive at Polymarket and Kalshi, and aims to develop an on-chain, permissionless prediction market.
Regulatory Challenges: Coinbase has filed lawsuits against several states, arguing that the Commodity Futures Trading Commission should regulate prediction markets instead of state gaming regulators, reflecting its commitment to expanding its market presence.
Stock Performance: Following these developments, Coinbase shares saw a slight increase in after-hours trading, with a focus on growth as a key performance indicator for the company.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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