Coinbase may lose dominance as competition intensifies

Coinbase faces increasingly fierce competition as the White House’s friendly stance on cryptocurrencies fuels the rise of its competitors. Bitwise's Ryan Rasmussen pointed out that the exchange could lose its early advantage. Although the stock has fallen 33% from its peak of $444, it has risen 25% year to date and 178% from its 2024 low, despite pressure from weak second-quarter results. Analysts warn that new U.S. regulation is intensifying competition from traditional financial companies such as the Asian Exchange and Bank of New York Mellon, although some believe diversified custody can reduce risks.