CTAs are almost max long in equities, have very limited room to buy: UBS
Coinbase Global , Inc. (NASDAQ:COIN), currently valued at $90.26 billion and trading at $354.80, held its 2025 annual meeting of stockholders on June 18. The company, which has delivered an impressive 38.87% return year-to-date according to InvestingPro data, gathered shareholders to vote on three proposals.
First, shareholders elected ten directors to serve until the company’s 2026 annual meeting. The elected directors are Brian Armstrong, Marc L. Andreessen, Paul Clement, Christa Davies, Frederick Ernest Ehrsam III, Kelly A. Kramer, Chris Lehane, Tobias Lütke, Gokul Rajaram, and Fred Wilson. Votes for each nominee ranged from approximately 891 million to 948 million, with withheld votes ranging from about 0.7 million to 57.4 million. There were 47.1 million broker non-votes for each nominee.
Second, shareholders ratified the appointment of Deloitte & Touche LLP as Coinbase’s independent registered public accounting firm for the year ending December 31, 2025. The proposal received about 994.6 million votes in favor, 0.8 million against, and 0.2 million abstentions.
Third, shareholders approved, on a non-binding advisory basis, the compensation paid to the company’s named executive officers. This proposal received 926 million votes in favor, 22.2 million against, and 0.3 million abstentions, with 47.1 million broker non-votes.
All proposals passed as outlined in the company’s proxy statement filed with the Securities and Exchange Commission.
Coinbase’s Class A common stockholders were entitled to one vote per share, while Class B common stockholders were entitled to twenty votes per share. Both classes voted as a single group on all matters at the meeting.
The information in this article is based on a press release statement and the company’s SEC filing.
In other recent news, Coinbase Global Inc. has been the focus of several analyst updates and strategic developments. Bernstein raised its price target for Coinbase to $510 from $310, maintaining an Outperform rating, citing the company’s growth drivers, including its stablecoin business and acquisition of Deribit. Benchmark also increased its price target to $421 from $301, maintaining a Buy rating, highlighting a transformational year for Coinbase and an improving operating environment. Rosenblatt Securities reiterated its Buy rating with a $300 price target, expressing optimism about the cryptocurrency industry’s growth potential and Coinbase’s diversification strategy.
Coinbase has launched Coinbase Payments, a new stablecoin payment system for ecommerce, with Shopify (NASDAQ:SHOP) as its first major partner. This system allows merchants to accept USDC stablecoin payments globally with faster settlement times and lower fees. The initiative is part of Coinbase’s broader strategy to expand beyond trading into payments and lending services, as discussed at its third Annual State of Crypto Summit. These developments come amid significant changes in the political landscape that analysts believe will benefit the crypto sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.