Jack Dorsey’s Block Overtakes Coinbase in Market Value”

Block, Inc., the parent company of Square, Tidal, and Spiral, has recently surpassed Coinbase in market capitalization for the first time since March.

Coinbase’s stock has faced a significant drop this week, marking its worst performance of the year, amid a broader decline in the crypto market.

Earlier this year, Coinbase overtook Block Inc. in market value, but recent data from The Block shows a reversal. Barclays has adjusted its outlook on Coinbase from Underweight to Equal Weight, citing a more stable regulatory environment and strong industry leadership.

However, Barclays also lowered its price target for Coinbase shares from $206 to $169.

READ MORE:

U.S. Bank Faces Lawsuit for Allegedly Sharing Customer Data with Tech Giants

Coinbase’s stock, which reached a peak of $279.71 on March 25, closed at $147.35 on Friday. Last week, Coinbase achieved a minor legal victory when a New York judge ordered the SEC to provide certain documents related to its ongoing litigation, though the attempt to subpoena SEC Chair Gary Gensler was denied.

Coinbase’s Chief Legal Officer, Paul Grewal, emphasized the importance of the discovery order in a statement.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.