Even though large banking institutions are generally wary of the stock market interacting with the crypto ecosystem, there is one major bank that is bullish on a popular crypto stock even when it is sinking amid the market crash.
Deutsche Bank, the multinational investment bank and financial services company headquartered in Frankfurt, Germany, has initiated coverage of Coinbase (Nasdaq: COIN) and boosted the sinking stock's price target by nearly 40%.
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Deutsche Bank grants 'Buy' rating to Coinbase
Founded in 2012, Coinbase is the largest crypto trading exchange in the U.S. The company, which went public in 2021, joined the S&P 500 index in May this year.
However, the crypto company's stock, despite the peaks and lows, is nearly flat year-to-date (YTD) and was exchanging hands at $245.83 at the time of writing.
Despite the poor performance on the charts, Deutsche Bank is banking on Coinbase's "Everything Exchange" strategy and has granted it a "Buy" rating.
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Understanding Coinbase's 'Everything Exchange'
During the third quarter of 2025, Coinbase reported a revenue of $1.86 billion and earnings per share (EPS) of $1.5 to beat estimates. Founder and CEO Brian Armstrong highlighted the "Everything Exchange" vision as a key to the future during the earnings call.
Armstrong earlier said the crypto exchange is about to blur the line between TradFi and crypto as Coinbase builds the "Everything Exchange."
Coinbase users will be able to trade everything—cryptocurrencies, crypto futures, tokenized stocks—on a single platform as the vision reaches fruition.
Deutsche Bank gives high price target to Coinbase
Deutsche Bank underlined that 2025 was a major investment year for Coinbase but the heaviest stage of investment has passed. The multinational bank said Coinbase could significantly scale its investments in 2026.
The Base App, retail and institutional services, on-chain retail banking services, prediction markets, and enhanced crypto trading capabilities are among the factors the bank thinks will affect the future course of Coinbase.
Deutsche Bank offered the Coinbase stock a price target of $340, more than 38% higher than the current price of $245.83.
This story was originally published by TheStreet on Dec 17, 2025, where it first appeared in the Trading News & Analysis section. Add TheStreet as a Preferred Source by clicking here.
