【巴克莱-2025研究报告】Coinbase全球公司（COIN）：黑客攻击与调查，不过反应可能过度.pdfVIP

EquityResearch

U.S.Brokers,AssetManagersExchanges

15May2025

CoinbaseGlobal,Inc.

HackAndInvestigation,Though

ReactionLikelyOverblown

Coinbaseannouncedthat

thecompanysufferedacyber-COINEQUALWEIGHT

attackinwhichcustomerinformationwasstolen;andU.S.Brokers,AssetPOSITIVE

ManagersExchanges

separately,mediareportsindicatedtheSECisprobingPriceTargetUSD202.00

Price(14-May-25)USD263.41

whetherCoinbaseoverstatedusernumbersintheS-1.Shares

PotentialUpside/Downside-23.3%

underperformedfollowingthenews,thoughwethinktheSource:Bloomberg,BarclaysResearch

reactionisoverblown.

U.S.Brokers,AssetManagers

Exchanges

Summary:Earliertoday,