Wells Fargo Asks Investors to Sell Coinbase Stock
Coinbase is one of the largest crypto exchanges in the world. However, the popular platform is not having the best of times at the moment. The exchange was recently hit with a massive $350 million patent infringement lawsuit. If that was not enough, Wells Fargo, one of the biggest financial institutions in the world, has asked investors to sell Coinbase stock, while on CNBC. JUST IN: Wells Fargo says rising competition and macro pressure will hurt Coinbase $COIN stock. — Watcher.Guru (@WatcherGuru) September 29, 2022 The financial giant says that “rising competition and macro pressures will hurt the stock.” Moreover, even Jim Chanos said that the company did not have a good business model. The $350 million lawsuit was filed by Veritaseum Capital LLC. The firm alleges that Coinbase infringed upon a patent awarded to Reggie Middleton, who is a founder of Veritaseum. The lawsuit claims that Coinbase “had previous knowledge, should have know...