On September 3, Coinbase Global, Inc. rose 5.54% in regular trading, trading at $187.895/share with turnover of $255 million, rebounding sharply from a 5.21% decline earlier in the week.

On the news front, Coinbase formally appointed Anthony Armstrong, former CFO of Elon Musk's xAI and X Corp, to its board of directors effective September 1. Armstrong, who previously served nearly a decade at Morgan Stanley as Vice Chairman of Investment Banking, also joins the audit and compliance committee. SEC filings confirmed he has no familial relationship with CEO Brian Armstrong. The appointment expands the board from 9 to 10 members, with the company highlighting his track record in building scalable, efficient systems aligned with its current strategic priorities.

Separately, Cantor Fitzgerald raised its target price on Coinbase to $212 from $184, maintaining an overweight rating, citing Bitcoin's breakout above $80,000, improving U.S. regulatory clarity, and growing institutional adoption as key catalysts. Analysts' consensus mean target stands at approximately $195.53 with an average overweight rating.

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