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On August 22, Iranian Foreign Ministry spokesman Baghae said that the United States announcement of new economic sanctions against Iran goes far beyond an ongoing illegal "economic war" against a single country and has no basis in international law. Baghae posted on social media early on August 22 that such sanctions violate the principle of sovereign equality in the UN Charter. This "economic coercion that forces a sovereign state to change its legitimate policy choices" constitutes a completely illegal act.On August 22, it was reported that on August 21, the foreign ministers of eight countries—Egypt, Jordan, the UAE, Indonesia, Pakistan, Turkey, Saudi Arabia, and Qatar—issued a joint statement condemning Israels continued illegal settlement policy in the occupied Palestinian territories and firmly opposing the "E1 Block" settlement plan and related settlement activities in East Jerusalem. Israel occupied East Jerusalem and parts of the West Bank during the 1967 Six-Day War and has been building Jewish settlements there. On August 18, the Israeli government issued a tender notice for 1,234 housing units in the "E1 Block" settlement project. In August 2025, Israeli Finance Minister and far-right politician Smothrich claimed he planned to approve the construction of 3,401 housing units in the "E1 Block," aiming to "destroy the Palestinian state concept."U.S. Energy Secretary: Oil flows smoothly through the Strait of Hormuz thanks to the protection of the U.S. Navy.US President Trump: We will never let Americans fall behind, because we prioritize America.On August 22, a U.S. federal district judge overturned the Trump administrations policy of suspending the issuance of immigrant visas to applicants from 75 countries, stating that the policy exceeded Secretary of State Rubios legal authority. District Judge Janet Vargas stated that the policy announced by the State Department in January was "clearly illegal" and violated federal immigration law. The Trump administration may appeal, and the policy remains in effect.

COIN Stock Alert: Coinbase Falls on Reports of Withdrawal Delays

Skylar Shaw

Sep 02, 2022 14:38

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The recent run for Coinbase (NASDAQ:COIN) shares has not been smooth, and things aren't looking much better on Thursday. The announcement that the business is now looking into a network problem that is delaying deposits and withdrawals sent the price of COIN shares down around 5% for the day.


The organization said yesterday that it has resolved delays "in processing ETH/ERC-20 deposits on Coinbase.com and Coinbase Pro." Without giving much information, it is now experiencing a different problem with another outage.


Of course, having problems today is not a good thing. Prices for Bitcoin (BTC-USD) are falling, and the whole market is also suffering.


Coinbase has been having trouble overall. Shares have lost almost 75% of their value thus far this year, with a 90.5% loss from peak to trough. In spite of the fact that COIN stock had risen from its 2022 low, almost doubling at one time, it has suddenly dropped by about 50% over the last four weeks.

What Will Happen to COIN Stock?

The business announced its second-quarter profits on August 9. As sales decreased by more than 60% year over year, Coinbase fell short of revenue and profit projections. Since then, COIN stock has been under pressure and has decreased in 13 of the last 18 sessions.


However, according to JPMorgan analyst Kenneth Worthington, Coinbase received some positive news a few weeks ago. According to him, Coinbase will "meaningfully benefit" from the Ethereum Merge.


According to daily trade volume, Worthington said that Coinbase is America's biggest bitcoin exchange. He thinks that because of the company's excessive exposure to Ethereum, it is well-positioned for a greater revenue potential (ETH-USD). With regard to ether assets, Coinbase has "a bigger market share (15%) than the 7% share it holds in the broader crypto ecosystem."


Additionally, he predicts that "incremental yearly staking income from the ether merging will be $650M assuming an ETH price of $2K and a 5% ETH return"

Of sure, this is a plus, but does it really matter?

Currently, it is probable that investors will pay attention to the equity bear market, Coinbase's price movement and financial results, and the development in cryptocurrencies. Although Worthington's claim could be valid, the current trend is alarming.

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