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Mizuho Warns Coinbase Prediction Markets May Cannibalize Crypto Trading Revenue

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Mizuho warns Coinbase’s upcoming prediction markets could hurt trading volume and crypto revenue. A survey shows 37% of Coinbase users may fund bets with new deposits, lower than Robinhood’s 50%. Analysts cut Coinbase’s stock target to $280 from $320, citing softer growth. Price prediction features may overlap with crypto speculation, potentially reducing trading volume. Bitcoin’s drop to $87,690 has shifted analyst views on Coinbase’s expansion.
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