Coinbase Launches Bitcoin Yield Fund Amid Compass Point Downgrade to Sell at $180; Loop Capital Cuts Meta PT to $695

Coinbase Global Inc. has announced the launch of a new institutional fund designed to offer a regular yield on customers' Bitcoin holdings. This move aims to provide investors with a yield-generating product tied to Bitcoin, expanding Coinbase's offerings in the cryptocurrency market. Meanwhile, Coinbase's stock (ticker: COIN) was downgraded from Buy to Sell by Compass Point, with a price target set at $180.

The downgrade comes amid cautious sentiment among analysts ahead of Coinbase's first-quarter earnings report. Separately, Loop Capital has lowered the price target for Meta Platforms Inc. (ticker: META) to $695 from $900, maintaining a Buy rating due to concerns over falling advertising prices and softer consumer demand ahead of its Q1 results.