Coinbase shares fell 9% to $56.88 on Monday after Goldman Sachs downgraded the company to “Sell” from “Neutral,” and lowered its price target to $45 from $70. Analyst Will Nance also wrote in a note to investors that “further cuts are needed” in the company’s headcount, even with Coinbase recently saying it would fire 18% of its workforce in addition to pulling offers from incoming employees. “We believe current crypto asset levels and trading volumes imply further degradation in COIN’s revenue base,” wrote Nance, adding that year-over-year revenue could fall by more than 60%. In investment terms, a “Neutral” rating ... (full story)