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          "method_notes": "Valuation based on earnings growth and P/E multiple analysis; BUY due to ~14% expected return. Not investment advice.",
          "current_price": 175.09,
          "recommendation": "BUY",
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            "Revenue growth driven by increasing crypto adoption.",
            "High operating margins and improving efficiency.",
            "Subject to significant regulatory and market risks.",
            "Valuation offers moderate upside potential."
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          "ticker": "COIN",
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            {
              "driver": "Retail Trading Volume",
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            {
              "driver": "SEC Regulatory Actions",
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              "driver": "Traditional Finance Competition",
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          "method_notes": "Valuation based on a 10-year DCF (14% WACC reflecting 2.61 beta) and a 20x terminal EV/EBITDA multiple. The BUY rating reflects an 11% upside to our base case, balancing institutional custody growth against retail volume volatility and regulatory risks. Not investment advice.",
          "current_price": 175.09,
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