Per Woofun AI, Benchmark has reaffirmed its 'Buy' recommendation for Coinbase (COIN), setting a price target of $270. This valuation implies approximately 59.5% upside from the recent close of $169.27. Analyst Mark Palmer emphasized that the firm is successfully evolving beyond cyclical brokerage models into a comprehensive infrastructure platform. The updated thesis reflects progress in tokenized assets, crypto options, and consumer financial products.

A pivotal development involves regulatory clearance from the US Commodity Futures Trading Commission (CFTC), allowing Coinbase to operate as a regulated futures commission merchant. This authorization enables the offering of global crypto perpetual futures and options to US clients via Deribit, the Dubai-based subsidiary acquired for $2.9 billion.

Concurrently, Coinbase has deployed Coinbase Advisor for subscription users and introduced infrastructure tools supporting AI agents and digital payments within the Base ecosystem.