Moody’s Investors Service, one of the top global credit rating agencies, changed its outlook on Coinbase (COIN) from stable to negative.

The credit rating agency’s note provides an opinion on the potential direction of a stock’s
rating over a medium-term period, typically 12 to 18 months. The outlook can be positive, stable, or negative.

Yesterday’s note comes amid a fresh lawsuit from the SEC against the exchange for allegedly operating as a non-licensed broker and trading in unregistered securities.

COIN was last trading at $54.90, according to Nasdaq data, 7.5% lower than its price before the lawsuit.

Moody’s analysts noted that the “uncertain magnitude” of the SEC’s lawsuit had prompted them to downgrade its outlook for Coinbase.

The potential regulatory actions that can be brought against Coinbase include “interest and penalties” and a dramatic change to its product offering and business activities due to securities law application on specific tokens and staking services, said Moody’s

Bitcoin, Ethereum rake in most for Coinbase

Nevertheless, Moody’s maintained its 2022 credit rating of Coinbase, citing its “hea

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Author: Nivesh Rustgi

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