Bank of America Upgrades Coinbase (COIN) to 'Buy' Rating: Exchange Diversifies Beyond Crypto

Bank of America (BofA) has upgraded its rating for Coinbase Global, Inc. (NASDAQ: COIN) from 'neutral' to 'buy,' signaling strong analyst confidence. The upgrade is driven by the cryptocurrency exchange's successful strategic expansion beyond its core trading business. Analysts highlighted Coinbase's growing revenue streams from areas like stablecoin technology and blockchain infrastructure services. This diversification reduces the company's reliance on volatile crypto market cycles and positions it for more sustainable growth. The positive rating underscores a belief in Coinbase's evolving role as a broader financial technology and infrastructure provider in the digital asset ecosystem.