Citi cuts Coinbase price target to $400 after stock's 65% plunge from record high

The bank trimmed its Coinbase revenue and earnings forecasts amid a brutal risk-off environment for crypto and delays around U.S. market structure legislation. What to know : Citi cut its Coinbase price target to $400 from $505 after crypto's and the stock's plunge from record highs. The bank trimmed fourth-quarter revenue forecasts by about 10%. The bank maintained its buy/high risk rating on the stock, with regulation progress seen as the main upside catalyst.