Down more than 81% from its all-time high and yet up by more than 88% since the beginning of 2023, Coinbase Global (NASDAQ: COIN) is in a peculiar position. Benefitting from the recent rally in the crypto market, Coinbase's price jumped significantly in the last few months as a renewed sense of optimism has investors hoping that the worst might just be over. 

However, there is reason to believe that bumpy and dangerous roads are ahead. 

After a tumultuous and controversial 2022, which was riddled with multiple cryptocurrency companies going bankrupt, U.S. regulators have ratcheted up pressure on the crypto industry as a whole. This could be bad news for Coinbase.

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Source Fool.com