In brief
- Mizuho analysts raised “cannibalization concerns” in a recent note.
- Coinbase users are likely to sell crypto to fund bets, they warned.
- The analysts lowered their price target for COIN ahead of Coinbase’s big Wednesday event.
The money has to come from somewhere.
And when it comes to prediction markets, that could be an issue for Coinbase relative to competitors, according to a survey detailed in a Tuesday note from Mizuho Securities.
After fielding responses from more than 230 Coinbase and Robinhood users, analysts at the investment banking firm found that 50% of the retail brokerage’s customers plan to fund prediction market wagers with fresh cash, compared to 37% at the crypto exchange.
Although 37% of surveyed users…
Dec 16 2025
