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Stablecoin Yield: Why Washington’s Battle Could Reshape Crypto Banking Forever

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Stablecoin Yield: Why Washington’s Battle Could Reshape Crypto Banking Forever
Regulation · 28 March 2026 · 5 min read

Stablecoin Yield: Why Washington’s Battle Could Reshape Crypto Banking Forever

A single clause in the US CLARITY Act has sent Circle’s stock to its worst-ever single-day drop, alarmed Coinbase, and put stablecoin yield at the centre of a fight that will determine whether crypto platforms or traditional banks control the future of digital money.

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Ashton Addison
Founder & CEO · Crypto Coin Show · Since 2014
Syndicated via Refinitiv TV
London Stock Exchange Group

A leaked draft of the Digital Asset Market Clarity (CLARITY) Act sent shockwaves through crypto markets on 24 March 2026, when provisions proposing to ban stablecoin platforms from offering yield on customer balances were reported by The Wall Street Journal. Circle Internet Group recorded its largest-ever single-day share price decline, while Coinbase also fell sharply — before both partially recovered the following day. By 25 March, Senate negotiators announced they had reached an agreement in principle with the White House on the disputed yield provisions, but the broader regulatory uncertainty remains unresolved.

Key Concept
Stablecoin Yield
Interest or rewards paid by a crypto platform to users who hold stablecoin balances — functioning similarly to a savings account interest rate, but often at significantly higher rates than traditional banks offer.
Key Concept
The CLARITY Act
US legislation currently before the Senate aimed at establishing a comprehensive regulatory framework for digital assets, covering market structure, stablecoin issuance, and the treatment of crypto platforms under existing financial law.
Context

The Fight Behind the Bill

The stablecoin yield dispute has been the single largest obstacle blocking the CLARITY Act’s advancement through the Senate. On one side, traditional banks — led by the American Bankers Association — have argued that allowing crypto platforms to pay yield on stablecoin balances risks triggering significant deposit flight away from savings accounts, ultimately threatening bank lending capacity. On the other, the crypto industry has maintained that restricting yield would leave US platforms uncompetitive against offshore alternatives and damage innovation domestically.

SEC Chairman Paul Atkins, speaking at the Blockworks Digital Asset Summit in New York on 24 March, described the prior week as “a historic week for America’s digital asset markets” and characterised recent regulatory actions as “the end of the beginning” — while cautioning that congressional legislation remains the only route to a durable framework. Atkins also criticised the prior administration’s enforcement-first approach, acknowledging that it had pushed crypto activity toward offshore jurisdictions.

Analysis

Who Wins, Who Loses if Yield Is Banned

The stakes of the yield debate extend well beyond compliance costs. If enacted in their strictest form, the CLARITY Act’s yield restrictions would align stablecoins more closely with traditional deposit products — effectively handing incumbent banks a structural advantage they have lobbied hard to preserve. For crypto-native stablecoin issuers, the consequences vary significantly by business model.

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“The impact may be less about restriction and more about redistribution — determining who captures value and under what conditions.”
CCS Analysis · 28 March 2026

Circle, issuer of USDC and the most US-regulated of the major stablecoin operators, faces the most direct exposure given its business model’s reliance on yield-generating activities. Tether, by contrast, operates largely outside US jurisdiction and would face fewer direct constraints. This competitive asymmetry is one reason analysts suggest that a strict yield ban could paradoxically strengthen offshore operators while pressuring the more compliant, domestically-oriented platforms the legislation ostensibly aims to support.

Compounding the picture, the New York Stock Exchange announced on 24 March a collaboration with digital asset infrastructure firm Securitize to develop a blockchain-based trading platform capable of 24/7 settlement using stablecoin funding. If stablecoin yield is curtailed, the economic incentive underpinning much of that institutional infrastructure weakens alongside it.

What It Means

A More Proactive Regulatory Philosophy

What may distinguish the current regulatory moment from prior crypto policy cycles is not merely the content of the rules, but the approach underpinning them. Earlier frameworks largely focused on enforcement after misconduct, or on clarifying asset classifications as disputes arose. The CLARITY Act represents a more proactive posture — attempting to define market structure before it fully matures rather than reacting to crises once they develop.

Whether the Senate’s reported agreement in principle on stablecoin yield translates into final legislative language — and how that language is ultimately worded — will determine how value flows through digital asset markets for years to come. For crypto-native firms, the challenge is to demonstrate that innovation can operate within regulatory constraints. For traditional institutions, it is to move quickly enough to remain relevant in a market they did not build.

The CLARITY Act’s March deadline passed without a final signing. Institutional money has remained hesitant, and altcoin sentiment has stayed subdued as traders wait for Washington to deliver a definitive answer. The bill’s trajectory in the coming weeks will be one of the most consequential regulatory developments in digital assets since the FTX collapse in 2022.

Coinbase Bitcoin Mortgages

Coinbase Powers the First Crypto-Backed Conforming Mortgages — Bitcoin Now Buys Your Home

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Coinbase Powers First Crypto-Backed Conforming Mortgages | Crypto Coin Show
BTC$87,420▼ 2.78%
ETH$2,041▼ 1.45%
USDC$1.00▲ 0.00%
COIN$214.60▲ 1.12%
BETR$3.88▲ 4.30%
FNMA$1.94▼ 9.29%
BTC$87,420▼ 2.78%
ETH$2,041▼ 1.45%
USDC$1.00▲ 0.00%
COIN$214.60▲ 1.12%
BETR$3.88▲ 4.30%
FNMA$1.94▼ 9.29%
Breaking Real Estate Analysis · March 26, 2026 · 6 min read

Coinbase Powers the First Crypto-Backed Conforming Mortgages — Bitcoin Now Buys Your Home

In a watershed moment for digital assets and mainstream finance, Coinbase and Better Home & Finance have launched the first Fannie Mae–backed mortgages that accept Bitcoin and USDC as down payment collateral — unlocking homeownership for 52 million American crypto holders without forcing a single sale.

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Ashton Addison Editor-in-Chief · Crypto Coin Show · Syndicated on Refinitiv TV

For years, crypto holders faced an uncomfortable paradox: sit on life-changing digital wealth while struggling to scrape together a traditional down payment for a home — or sell assets, trigger capital gains taxes, and permanently exit positions they’d spent years building. On March 26, 2026, that paradox officially ended.

Coinbase (NASDAQ: COIN) and Better Home & Finance Holding Company (NASDAQ: BETR) announced a landmark partnership today: the first token-backed, conforming mortgages in U.S. history. Qualified borrowers can now pledge Bitcoin (BTC) or USDC held in their Coinbase accounts as collateral to fund their cash down payment — securing a standard Fannie Mae–backed conforming mortgage without liquidating a single satoshi.

“People who are sitting on Bitcoin or USDC can put a roof over their head without needing to sell it, without needing to incur capital gains.”

— Mark Troianovski, Head of Consumer & Platform Business Development, Coinbase
52M American adult crypto holders eligible
41% of families blocked from homeownership by cash barriers
$4T Fannie Mae mortgage market now open to crypto collateral

What Exactly Is a Token-Backed Conforming Mortgage?

The structure is elegantly simple, yet historically significant. A borrower who qualifies under Better’s standard mortgage underwriting criteria can pledge Bitcoin or USDC instead of bringing a traditional cash down payment to closing. That crypto pledge backs a separate, privately financed loan used to fund the down payment. The first-lien mortgage itself remains a fully conforming Fannie Mae loan — carrying identical protections, standards, and regulatory treatment as any conventional mortgage.

Critically, both the down payment loan and the primary mortgage share the same interest rate and amortization term, meaning borrowers manage a single unified monthly payment rather than juggling two separate obligations. This unified payment structure is described by the companies as a true market first in the conforming mortgage segment.

1
Qualify with Better

Borrowers apply through Better’s AI-native Tinman® platform and qualify under standard Fannie Mae conforming mortgage criteria.

2
Pledge Bitcoin or USDC from Coinbase

Borrowers transfer BTC or USDC from their Coinbase account into a custody wallet with Better (held in a Coinbase Prime account), retaining ownership rights throughout.

3
Crypto backs a separate down payment loan

The pledged digital assets collateralize a privately financed loan that funds the cash down payment — no sale, no taxable event.

4
Close on a standard conforming mortgage

The first-lien mortgage is a fully Fannie Mae–eligible conforming loan with a single unified monthly payment covering both loans.

5
Crypto returned upon repayment

The pledged crypto remains in custody for the life of the down payment loan and is returned to the borrower once that loan is fully repaid.

Fannie Mae’s Historic Green Light

The involvement of Fannie Mae — the $4 trillion government-sponsored enterprise that sets standards for the majority of the U.S. mortgage market — is the headline here. For the first time in its history, Fannie Mae is accepting mortgages collateralized by cryptocurrency. By aligning Bitcoin and USDC with conforming loan structures, this partnership positions digital assets as part of mainstream financial infrastructure rather than an experimental parallel system.

Token-backed mortgages originated by Better are designed in accordance with Fannie Mae guidelines and remain structurally identical to other conforming mortgages. This Fannie Mae alignment also enables interest rates far lower than those historically associated with standalone crypto-backed loans — which typically carried steep premiums reflecting their niche, uninsured nature.

“Better was founded to make homeownership more accessible for all Americans, and this partnership with Coinbase introduces a new pathway to realizing the American Dream for the 52 million Americans who own digital assets.”

— Vishal Garg, CEO & Founder, Better Home & Finance

Key Borrower Protections

Perhaps the most significant departure from previous crypto-backed lending products is the elimination of margin calls. In typical crypto-backed loan structures, a sharp decline in collateral value triggers margin calls — forcing borrowers to post additional collateral or face immediate liquidation. This product does none of that.

🚫

No Margin Calls

If BTC drops in value, mortgage terms remain entirely unchanged. Market movements alone never trigger liquidation.

🏦

No Taxable Event

Borrowers pledge — not sell — their assets. No capital gains taxes, no early withdrawal penalties triggered at closing.

💰

USDC Earns Rewards

Borrowers pledging USDC continue earning yield on holdings, potentially offsetting mortgage payments and reducing the net effective rate.

🔐

Ownership Retained

Crypto is custodied in a Better/Coinbase Prime wallet but ownership rights remain with the borrower throughout.

📋

Fannie Mae Protections

As a conforming loan, borrowers benefit from the same legal protections and standards as any conventional mortgage.

💳

Coinbase One Rebate

Coinbase One members who close through Better are eligible for a rebate of 1% of the mortgage value, capped at $10,000 toward closing costs.

Collateral is only at risk of liquidation in the event of a 60-day mortgage payment delinquency — precisely mirroring the treatment of defaulted conventional mortgages. The product is designed, in Coinbase’s own words, to “work within the safeguards of the existing mortgage system, including how risk like asset volatility is managed.”

A Worked Example

📊 Scenario: $500,000 Home Purchase
Home Purchase Price$500,000
Required Down Payment (20%)$100,000
Bitcoin Pledged as Collateral~$250,000 in BTC
Down Payment Loan Funded$100,000 cash
Fannie Mae First-Lien Mortgage$400,000 conforming loan
Coinbase One Rebate (if eligible)Up to $4,000 toward closing
BTC Liquidation RiskOnly on 60-day delinquency
Margin Call RiskNone

The Rate Premium: What Borrowers Should Know

The product is not free. Coinbase has confirmed that crypto-backed mortgages will carry rates 0.5 to 1.5 percentage points higher than a standard 30-year conforming loan, depending on borrower profile. That said, this premium is substantially lower than rates historically associated with crypto-backed loans, which often carried 3–5% premiums or more, and the product is designed to function at near-conforming pricing rather than niche wealth management pricing.

For borrowers who believe in the long-term appreciation of Bitcoin — or who hold USDC and can offset mortgage costs with yield rewards — the calculus may clearly favor pledging over selling. The break-even point depends heavily on individual tax situations, expected BTC appreciation, and current conforming rates.

The Generational Wealth Angle

The companies frame this as a generational solution. Coinbase data shows that 45% of younger investors own crypto, compared with 18% of older cohorts — suggesting digital assets are becoming a primary store of value for a new generation that has simultaneously struggled the most with housing affordability. The median age of first-time homebuyers has risen to 40, versus 32 in 2000, per the National Association of Realtors.

“Token-backed mortgages are a major first step to unlocking homeownership for the younger generations that have struggled with barriers to saving for a traditional down payment.”

— Max Branzburg, Head of Consumer & Business Products, Coinbase

According to Better, roughly 41% of American families fail to purchase homes due to insufficient liquid cash — even when they hold other forms of wealth. With 52 million American adults now owning digital assets, this product directly targets that gap. Redfin data cited in the launch shows 12.7% of Gen Z and Millennial homebuyers have already sold crypto to fund a down payment, compared to 3.5% of Gen X and just 0.5% of Baby Boomers — underscoring both the latent demand and the tax friction this product resolves.

Regulatory Tailwinds and What Comes Next

The launch coincides with a notably crypto-friendly regulatory environment under the Trump administration, which has taken active steps to ease regulatory hurdles constraining the expansion of digital assets into traditional financial products. The Coinbase-Better partnership is an early beneficiary of this shift.

Both companies have also signaled aggressive expansion of eligible collateral types over time, potentially including tokenized equities, fixed income instruments, and tokenized real estate assets — pending market and regulatory conditions. This positions the product as a foundation for a much broader bridge between onchain capital and the traditional mortgage market.

Interested borrowers can register for early access today at better.com/crypto-backed-mortgages.

CCS Take: This Is a Watershed Moment

We’ve covered blockchain’s intersection with real estate since 2014 — from early NFT deed experiments to DeFi lending. But this is categorically different. When Fannie Mae — the entity that backstops roughly half of all U.S. mortgage origination — formally accepts Bitcoin as mortgage collateral, digital assets have crossed an institutional Rubicon.

The absence of margin calls is the product detail that deserves the most attention. Previous crypto-backed lending models essentially invited volatility-driven liquidations that wiped out borrowers during crypto winters. This structure deliberately immunizes borrowers from that risk while keeping them in their homes under the same protections as any conventional mortgage holder.

For the 52 million Americans who hold crypto and the millions more who will enter the asset class in the years ahead, this is the answer to the question they’ve been asking: can my digital wealth build a real one? As of today, the answer is yes.

Disclaimer: This article is for informational purposes only and does not constitute financial, legal, or tax advice. Crypto-backed mortgage products involve risk. Tax treatment of crypto pledges may vary; consult an independent tax advisor. Crypto Coin Show and its affiliates may hold positions in assets mentioned. This content is syndicated on Refinitiv TV and distributed across CCS media channels.
Bitcoin Demand Heats Up: Coinbase Premium Green For 25 Straight Days

Bitcoin Demand Heats Up: Coinbase Premium Green For 25 Straight Days

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Editorial Summary

Bitcoin’s Coinbase Premium Gap has maintained positive territory for 25 consecutive days—the longest streak since October 2025—signaling renewed institutional buying pressure from American traders. This metric, which measures price differential between Coinbase and Binance, has historically correlated with BTC spot price movements and institutional participation. For institutional investors, this extended premium suggests a potential inflection point in market structure with meaningful implications for capital allocation and exchange selection strategies.

Data from on-chain analytics providers reveals that Bitcoin’s Coinbase Premium Gap has remained in positive territory for the past 25 days, marking the longest sustained streak in several months. This technical indicator—which measures the price difference between Bitcoin traded on Coinbase’s USD pair versus Binance’s USDT pair—has become an increasingly watched metric among institutional market participants seeking to understand where large capital flows are concentrating. The observation comes as Bitcoin has recovered to above $70,000 following a brief pullback from its $75,000 intraweek high, and institutional participation metrics suggest growing confidence among American-based traders and asset managers who predominantly route their cryptocurrency exposure through Coinbase’s regulated platform.

Understanding the Coinbase Premium as an Institutional Signal

The Coinbase Premium Gap functions as a barometer for relative buying and selling pressure across two of the world’s largest cryptocurrency exchanges. When the metric turns positive, it indicates that Bitcoin commands a higher price on Coinbase than on Binance, implying that Coinbase traders are either applying stronger accumulation pressure or experiencing lower selling intensity compared to their Binance counterparts. Conversely, negative readings suggest that Binance traders are driving the market higher, typically reflecting either retail-dominated flows or international capital sources. The significance of this distinction lies in the institutional composition of each platform’s user base: Coinbase serves as the primary custodial and trading venue for American institutions, spot exchange-traded funds, and regulated asset managers, while Binance caters to a more globally distributed and retail-heavy audience.

Historical analysis reveals a pronounced correlation between the Coinbase Premium Gap’s trajectory and Bitcoin’s spot price movements, particularly since the beginning of 2024. During Bitcoin’s descent from its January peak, the 30-hour moving average of the Coinbase Premium Gap deteriorated significantly into negative territory, suggesting that selling pressure among Coinbase users—predominantly institutional entities—was a material driver of the downside. This correlation underscores the outsized influence that American institutional capital exerts on Bitcoin’s price discovery, especially given the concentration of spot ETF custody arrangements on Coinbase and the platform’s status as the preferred trading venue for institutional investors navigating regulatory frameworks and compliance requirements.

The recent 25-day positive streak represents a meaningful shift from the earlier weakness observed in 2024. Beginning in late February, the indicator’s 30-hour moving average began reversing course, transitioning from the negative zone and entering sustained positive territory. This directional shift has maintained upward momentum through the present period, indicating that the price of Bitcoin on Coinbase has continued to rise relative to Binance valuations. The persistence of this premium over nearly a month suggests that the pattern is not merely a temporary anomaly but rather reflects a structural change in institutional demand dynamics among American traders and fund managers.

Market Structure and Institutional Capital Flows

The sustained Coinbase premium gain considerable significance when contextualized within the broader institutional adoption cycle that has accelerated following the approval of spot Bitcoin ETFs in January 2024. These products, which rely on Coinbase as a primary custodian and execution venue, represent a material inflow channel for institutional capital into the cryptocurrency ecosystem. When institutional investors gain or lose conviction about Bitcoin’s near-term prospects, their trading activity typically manifests first on Coinbase before diffusing across other venues. The 25-day positive streak therefore suggests that institutional capital has been accumulating Bitcoin positions, or at minimum, has become net buyers rather than net sellers during this period.

The relationship between Coinbase premium readings and Bitcoin’s price trajectory has proven particularly reliable during periods of institutional repositioning. Earlier in 2024, when the premium gap was deeply negative, Bitcoin was in the midst of a significant selloff, reflecting institutional de-risking and profit-taking. Institutional managers, faced with redemption pressures, margin calls, or tactical portfolio rebalancing, would have been sellers into strength on Coinbase, pushing the platform’s prices below Binance levels. The reversal of this dynamic—with Coinbase now commanding consistent premiums—indicates a fundamental shift in institutional sentiment from defensive to constructive.

The 30-hour moving average chosen by market analysts provides an appropriate time frame for filtering out noise while capturing meaningful shifts in institutional behavior. Monthly and quarterly rebalancing cycles, institutional position reviews, and macro reassessments typically manifest over periods spanning days to weeks. The 30-hour window thus captures medium-term institutional sentiment without overfitting to minute-to-minute volatility or single-day trading anomalies. The consistency of positive readings over this extended period provides stronger evidence of genuine institutional demand than would a few isolated days of Coinbase premium.

Implications for Institutional Investors and Market Structure

For institutional investors, the sustained Coinbase premium gain offers several actionable insights. First, it suggests that American institutional capital has shifted from defensive positioning to constructive accumulation, which carries implications for liquidity provision, execution strategies, and portfolio construction across cryptocurrency allocations. Institutions seeking to establish or expand Bitcoin positions would benefit from monitoring whether this premium persists, as continuation could indicate further institutional demand approaching, while compression or reversal might signal an inflection point. Second, the extended positive streak validates the use of exchange-specific premium metrics as leading indicators for institutional flows, reinforcing the value of on-chain and exchange-level data analysis for investors developing systematic approaches to cryptocurrency trading.

Bitcoin’s concurrent recovery above $70,000, following the earlier retracement from $75,000, demonstrates that price appreciation has accompanied the premium expansion. This correlation strengthens the argument that institutional buying pressure is a material driver of the recent recovery. Rather than price strength emanating from speculative retail activity on global exchanges, the Coinbase premium data suggests that American institutions—the most regulated and professional segment of the cryptocurrency market—are actively participating in the rebound. This distinction carries meaningful implications for the sustainability and institutional credibility of the current price rally.

Looking forward, maintaining the positive Coinbase premium for an extended period would indicate sustained institutional conviction and potentially signal that Bitcoin could establish higher trading ranges. Conversely, a compression or reversal of the premium would warrant attention as a potential warning signal of institutional profit-taking or renewed caution. Institutional traders should continue monitoring this metric alongside other structural indicators, including spot ETF inflows, futures market positioning, and regulatory developments, to maintain a comprehensive view of institutional market dynamics. The 25-day positive streak represents a notable inflection point that warrants close observation as a potential marker of a more durable shift in institutional positioning and market structure.

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Blockchain Futurist Conference Florida 2025 Kicks Off in Just 2 Weeks, Featuring Iggy Azalea, Tristan Thompson, and Leaders in Web3 & AI

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Blockchain Futurist Conference Florida 2025
FOR IMMEDIATE RELEASE

MIAMI, FL — October 21, 2025

The Blockchain Futurist Conference Florida 2025, now in its eighth edition and first-ever U.S. event, is gearing up to deliver an unforgettable experience shaping the future of Web3, crypto, and AI. Taking place November 5–6, 2025, at DAER inside the iconic Hard Rock Guitar Hotel, this festival-style conference will be the ultimate destination for high-impact networking and deal flow.

Star-Studded Lineup

The conference recently announced two major celebrity headliners adding star power to this year’s event:

  • Iggy Azalea — World-renowned musician and Founder of $MOTHER — will host a fireside chat in an exclusive session titled “The Death of Celebrity Coins.”
  • Tristan Thompson — NBA Champion and entrepreneur, Co-Founder of basketball.fun — will take the stage as part of the panel “The Great Leap: How Web3 Becomes a Mainstream Reality,” exploring how blockchain and emerging technologies are entering everyday life.

200+ Industry Leaders and Speakers

The conference will bring together more than 200 speakers, including:

  • Tom Bilyeu — World-renowned podcaster and Co-Founder of Impact Theory
  • Brian J. Esposito — CEO of Diamond Lake Minerals
  • Shan Aggarwal — Chief Business Officer at Coinbase
  • Dr. Ben Goertzel — CEO of SingularityNET
  • David Shallenberger — Utah House of Representatives
  • N3on — Influential digital creator and CEO of N3on Media

Expo & VIP Experience

The conference will feature two floors of expo booths showcasing leading Web3 and AI companies. Attendees are encouraged to visit the Nexa booth, one of the largest at the event. Nexa, a programmable digital value protocol, continues to push the boundaries of traditional blockchain technology. Attendees can hear directly from Andrew Stone, Lead Developer at Nexa / Bitcoin Unlimited, on the main stage November 5.

VIP Cabana Area: Unique to the Futurist Conference is its signature VIP Cabana Area, where leading companies host private cabanas for meetings with investors and industry leaders. This year, DAER Dayclub will feature over 30 company cabanas, including DeLorean Labs, a project built on the Sui Network. Hear from Evan Kuhn, President of DeLorean Labs, on November 5.

Featured Sponsors & Companies

This year’s event has already attracted over 60 sponsors across booth exhibits, VIP cabanas, speaking sessions, side events, and branding opportunities:

  • Brave Browser — A fast, private, and secure web browser that integrates Web3 functionality with privacy-first browsing
  • SpearTrades — A next-generation crypto analytics and trading insights platform helping traders make faster, smarter decisions
  • Argentum AI — Title Sponsor of the AI Futurist Conference, showcasing a human-friendly, AI-powered compute marketplace
  • Optio — Building decentralized infrastructure for identity and trust

The AI Futurist Conference

Now in its fifth year, the AI Futurist Conference will take over an entire day and stage, bringing together powerhouses in AI to explore the convergence of artificial intelligence and Web3. Presented by Argentum AI, this segment will spotlight innovations shaping the future of intelligent systems.

Side Events & Networking

The conference features a robust lineup of side events. One of the most highly awaited gatherings is the Happy Hour sponsored by Optio, taking place on November 6 at Entice.

For more information and to register: www.futuristconference.com

Blockchain Futurist Conference is one of North America’s longest-running and most immersive Web3 events. Now in its eighth year, Futurist has become a global hub for industry leaders shaping the future of crypto, Web3, and AI.

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Media Contact:
For press inquiries and interview requests, visit www.futuristconference.com

Coinbase publishes guide to crypto asset listing process to bolster transparency

Coinbase publishes guide to crypto asset listing process to bolster transparency

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Coinbase has publicly detailed its digital asset listing process in a bid to increase market confidence and reduce speculation around how tokens gain access to one of the world’s largest crypto exchanges. The move comes as exchanges face mounting pressure to demonstrate fair and consistent standards for determining which projects can trade on their platforms.

Five-Step Review Framework

The exchange outlined a structured methodology that begins with project teams submitting detailed information through an online application. Developers must provide whitepapers, tokenomics data, team credentials, and access to underlying source code for initial screening.

Coinbase then evaluates market fundamentals specific to each project. The assessment considers factors such as organic user demand, community strength, and the technical feasibility of integrating the asset into the exchange’s infrastructure.

The application then enters a formal review cycle involving three specialized teams: legal, compliance, and technical security divisions. Each department conducts independent analysis before recommendations are consolidated.

Listings are free and merit-based. Every asset is evaluated against the same standards.

— Brian Armstrong, CEO, Coinbase

Legal and Compliance Scrutiny

From a regulatory standpoint, Coinbase prioritizes determining whether a token could be classified as a security under applicable law. This assessment carries significant weight, as misclassification could expose the exchange to enforcement action.

The compliance team also investigates transaction patterns on-chain and token distribution mechanics. These reviews aim to identify potential consumer protection risks and flag any structures that could facilitate financial crime or market manipulation.

Key Evaluation Criteria

Coinbase assesses market demand, community traction, regulatory classification potential, on-chain activity patterns, token distribution, contract code integrity, consensus mechanisms (for new blockchains), and network resilience.

For blockchain networks rather than individual tokens, Coinbase evaluates technical design quality, consensus mechanism robustness, network resilience, and governance structures. These additional considerations recognize that supporting a new chain requires different infrastructure commitments than listing a token on an existing network.

Technical Evaluation and Integration

The technical security team conducts detailed code review and threat modeling. They examine smart contract architecture, operational risk vectors, and potential vulnerability pathways that could jeopardize user funds or exchange stability.

Communication between Coinbase and project teams remains continuous throughout the review phase. The exchange provides regular updates via email and phone to keep applicants informed of progress and any outstanding questions.

Once core review teams approve a token, the integration phase begins. This involves engineering work to ensure the asset functions properly within Coinbase’s trading, custody, and settlement systems.

Timeline Expectations

Typical review duration spans approximately one week. Technical integration generally requires two additional weeks. Most tokens complete the entire process in under 30 days, though complex projects or unsupported networks can extend timelines significantly.

From Approval to Trading

Timeline variability depends on multiple factors beyond Coinbase’s control. Token complexity, network compatibility, project team responsiveness, and custody infrastructure requirements all influence the ultimate duration.

Demand assessment also shapes listing priority. Coinbase weighs community sentiment, holder traction, team track record, and organic user interest when sequencing which approved tokens enter the market first.

When a token receives final approval, Coinbase implements a phased rollout strategy rather than immediate full trading availability. This graduated approach manages risk and allows liquidity to build organically.

The initial phase permits only deposit functionality, allowing users to transfer tokens into their Coinbase accounts without yet being able to trade. This period builds reserve balances and establishes baseline liquidity pools.

After sufficient deposits accumulate, Coinbase opens a 10-minute window for limit order collection. This mechanism allows traders to signal their buy and sell intentions before live trading commences. The collected orders inform market opening prices and help prevent extreme price swings on debut.

Our process is thorough because our standards are designed to protect customers, support healthy markets, and give projects the strongest possible foundation for long-term success.

— Coinbase, Official Blog

Once trading begins, the token operates under standard exchange rules. Coinbase continues monitoring token performance and market conditions to ensure no market manipulation or systemic risks emerge post-listing.

By publishing this framework, Coinbase addresses longstanding questions from the crypto community about listing favoritism and opacity. The disclosure signals that the exchange applies consistent evaluation criteria rather than making arbitrary decisions based on political pressure or commercial relationships.

This transparency initiative arrives amid broader industry discussions about regulatory clarity for digital assets. As policymakers develop frameworks governing token classification and exchange operations, demonstrating robust internal standards strengthens Coinbase’s position as a mature market infrastructure provider.

For projects seeking token listings on major platforms, understanding Coinbase’s detailed methodology provides a practical roadmap. Teams can now align technical architecture, legal structure, and community building efforts with the specific requirements major exchanges enforce.

The publishing of this guide reflects broader maturation within the cryptocurrency industry. As the market develops institutional characteristics, exchanges increasingly recognize that transparency and consistent rule-making build long-term trust with regulators, users, and project developers alike.

Market Context and Industry Implications

Coinbase remains positioned among the largest cryptocurrency exchanges globally by trading volume and user base. The exchange’s listing decisions carry market significance, as inclusion typically correlates with increased visibility and trading activity for approved tokens. In 2023, Coinbase processed over $1.2 trillion in trading volume across its platform, underscoring the material impact that listing decisions exert on token valuations and project success.

Other major exchanges including Kraken, Gemini, and various decentralized platforms operate similar review processes but have historically disclosed less detail about their methodologies. Coinbase’s public documentation sets a new transparency standard that may encourage peer exchanges to clarify their own listing criteria. This competitive pressure toward disclosure benefits the entire ecosystem by establishing baseline expectations for how legitimate exchanges should operate.

The regulatory environment surrounding cryptocurrency exchanges has intensified substantially since 2021. Enforcement actions from the Securities and Exchange Commission and Commodity Futures Trading Commission have specifically targeted exchanges accused of listing unregistered securities without proper legal analysis. By publicly documenting its security classification methodology, Coinbase demonstrates proactive compliance and creates defensible documentation of its listing decisions.

For token projects, Coinbase’s published standards provide crucial guidance for navigating the listing landscape. Approximately 50,000 cryptocurrency tokens exist globally, yet fewer than 500 trade on major regulated exchanges. Understanding Coinbase’s specific evaluation criteria—particularly the legal classification analysis and on-chain transaction pattern review—allows project developers to structure tokenomics and governance systems that align with exchange requirements before submitting applications.

Market implications of this transparency extend beyond individual token projects. Institutional investors and fund managers increasingly require exchange listing status as a minimum threshold for including tokens in portfolios. By clarifying its listing standards, Coinbase reduces uncertainty for investment decisions and potentially accelerates capital allocation toward tokens that clear the exchange’s rigorous evaluation framework.

The detailed methodology also addresses historical criticisms that cryptocurrency exchanges operated as unaccountable gatekeepers. This perception, while partially justified in earlier industry phases, threatened to undermine institutional adoption of digital assets. Coinbase’s initiative represents a deliberate effort to position major exchanges as legitimate financial infrastructure rather than speculative platforms disconnected from traditional finance governance standards.

Long-Term Industry Evolution

Coinbase’s transparency initiative signals that the cryptocurrency industry is moving toward standardization around exchange operations and listing processes. As regulatory frameworks solidify globally—particularly following the European Union’s Markets in Crypto Assets Regulation and various national regulatory proposals—exchanges that establish clear, documented standards will likely enjoy competitive advantages in obtaining operating licenses and institutional partnerships.

The public articulation of listing criteria also creates accountability mechanisms. Project teams can now reference Coinbase’s published standards when challenging denial decisions, and regulatory bodies can assess whether exchanges consistently apply the stated criteria. This transparency reduces opportunities for backroom deal-making and creates auditability around listing decisions.

For the broader cryptocurrency ecosystem, normalized exchange listing procedures reduce friction for legitimate projects while establishing barriers for low-quality or fraudulent tokens. This bifurcation ultimately strengthens market confidence by making clear distinctions between projects that meet institutional standards and those operating outside regulatory frameworks.

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Coinbase brings back the stablecoin bootstrap fund to expand USDC liquidity

Coinbase brings back the stablecoin bootstrap fund to expand USDC liquidity

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Coinbase is reviving its stablecoin bootstrap fund program after a nearly six-year hiatus, signaling renewed commitment to expanding USDC liquidity across decentralized finance platforms. The initiative will initially direct capital to four major protocols—Aave and Morpho on Ethereum, alongside Kamino and Jupiter on Solana—with Coinbase Asset Management administering the effort on behalf of Circle, the issuer of USDC.

The reopened fund represents a strategic pivot as on-chain financial services gain mainstream traction. Rather than traditional grants, Coinbase will deploy working capital directly into protocol liquidity pools, reducing borrowing costs and minimizing trading friction for users.

Liquidity as Infrastructure

According to Shan Aggarwal, Coinbase’s chief business officer, the fund exists to “deploy capital in on-chain protocols to ensure sufficient liquidity for their unique use cases.” The exact fund size remains undisclosed, though the company plans to supply liquidity in both USDC and EURC, with additional stablecoins potentially added later.

The initial focus targets protocols addressing distinct DeFi functions. Aave and Morpho operate as lending and borrowing markets on Ethereum, while Kamino provides concentrated liquidity services on Solana, and Jupiter functions as a trade aggregation platform on the same network.

These moves are part of a long-term strategy to guarantee ongoing USDC availability for both established and emerging networks.

— Coinbase statement to CNBC

By concentrating liquidity in key protocols, Coinbase aims to lower friction costs and accelerate protocol growth across multiple blockchain ecosystems.

Lessons from 2019

Coinbase’s original stablecoin bootstrap fund launched in 2019, when USDC was still establishing itself in decentralized markets. The initiative proved remarkably effective at building infrastructure during USDC’s formative period.

The early program directed capital strategically. Compound, a foundational lending protocol, received liquidity injections, as did dYdX, an important derivatives trading venue. Rather than grant distributions, Coinbase repositioned capital within protocol liquidity pools—a mechanical approach that directly addressed user experience.

The fund expanded over time to include Uniswap, the largest decentralized exchange by volume, and PoolTogether, an innovative no-loss savings protocol. Each injection reinforced USDC’s utility across different DeFi segments.

Market Impact

Early liquidity injections helped establish USDC as a foundational store of value throughout DeFi, enabling traders and borrowers to access stablecoins with minimal slippage and stable pricing.

The results reshaped DeFi infrastructure. By guaranteeing consistent USDC availability across protocols, Coinbase helped build user confidence in on-chain financial services. The approach contrasted sharply with traditional venture capital, which funds protocol development but rarely ensures operational liquidity.

USDC’s Multi-Chain Evolution

USDC has since evolved into a multi-chain stablecoin, operating across Ethereum, Solana, Polygon, Arbitrum, Optimism, Base, and numerous other networks. Daily transaction volumes now reach billions, reflecting its emergence as essential infrastructure for on-chain finance.

The stablecoin underpins some of the largest borrowing markets in crypto, with several billion dollars locked across protocols at any given time. Thousands of smart contracts depend on USDC as a settlement layer, making its liquidity a critical variable affecting user costs and protocol competitiveness.

For investors and traders, USDC pricing and availability directly influence their ability to enter and exit positions efficiently. Widespread liquidity reduces slippage—the difference between expected and actual execution prices—particularly during periods of high trading volume or market stress.

Key Context

USDC operates across all major blockchain networks and Coinbase’s Layer 2 solution, Base. It has become the default settlement currency for many DeFi protocols and continues to gain adoption among institutional and retail participants.

Coinbase’s Strategic Position and Ecosystem Leadership

Coinbase itself operates as a critical node in the broader cryptocurrency infrastructure. As one of the largest cryptocurrency exchanges globally, with over 100 million verified users, Coinbase maintains significant influence over DeFi adoption patterns and stablecoin demand signals. The company manages billions in cryptocurrency assets, operates institutional custody services, and recently expanded into blockchain infrastructure through its Base Layer 2 network, which settled over $4 billion in transactions during its first year of operation.

By redeploying capital through the stablecoin bootstrap fund, Coinbase simultaneously strengthens USDC’s competitive positioning and builds network effects that benefit its own ecosystem services. This strategic alignment differs fundamentally from third-party liquidity providers, as Coinbase directly captures value from increased on-chain transaction volumes through trading fees, custody services, and Base network activity.

The company’s scale provides meaningful advantages in executing this strategy. Coinbase Asset Management oversees substantial cryptocurrency holdings and maintains direct relationships with protocol teams, enabling efficient capital deployment and ongoing coordination. This infrastructure positions Coinbase to respond rapidly to emerging liquidity needs or strategic opportunities within the DeFi landscape.

Stablecoin Market Dynamics and Competitive Pressure

The stablecoin market has evolved substantially since 2019, introducing competitive dynamics that inform Coinbase’s relaunch timing. USDT, issued by Tether, maintains the largest market capitalization but faces ongoing regulatory scrutiny and transparency concerns. DAI, an algorithmic stablecoin issued by MakerDAO, offers decentralized issuance but requires substantial collateral and carries liquidation risk. Emerging competitors including PayPal’s PYUSD and projects within the Solana ecosystem have begun fragmenting liquidity across multiple stablecoins.

For Coinbase and Circle, the challenge involves maintaining USDC’s utility and availability even as alternative stablecoins compete for protocol integration and user adoption. Concentrated liquidity provision directly addresses this competitive dynamic—protocols gravitate toward stablecoins offering abundant depth and minimal execution friction. By subsidizing USDC liquidity across top-tier protocols, Coinbase raises the economic cost for protocols to prioritize competing stablecoins.

This dynamic intensifies within the Solana ecosystem, where USDT has historically dominated despite USDC’s technical advantages. Kamino and Jupiter represent strategic choices targeting Solana’s most active participants. Robust USDC liquidity on these platforms could materially shift Solana ecosystem preferences, generating compounding effects as traders and developers optimize around available liquidity.

Strategic Timing and Market Conditions

Coinbase frames the fund’s relaunch amid what it calls an “inflection point” for on-chain financial services. The company argues that both crypto-native users and newcomers increasingly demand accessible, stable-priced entry points into blockchain-based finance.

This timing reflects broader market dynamics. Institutional adoption has accelerated following regulatory clarity in several jurisdictions, while retail interest has rebounded alongside crypto price appreciation. Both cohorts require robust liquidity infrastructure to reduce friction costs. The approval of spot Bitcoin and Ethereum ETFs in major markets has introduced institutional capital flows, intensifying demand for stablecoin infrastructure that can facilitate efficient trading and settlement.

Regulatory developments also support the initiative’s timing. The emergence of coherent stablecoin regulation in the European Union and clearer frameworks in the United States have reduced uncertainty around USDC’s long-term viability. Institutions previously hesitant to engage with cryptocurrency-native stablecoins now view USDC as a legitimate settlement asset, expanding potential liquidity demand.

By repositioning capital in top-tier protocols, Coinbase simultaneously strengthens USDC’s competitive position against alternative stablecoins, including USDT, DAI, and emerging competitors. Liquidity itself becomes a moat—protocols with abundant stablecoin liquidity attract traders and borrowers, generating fees and further protocol value.

The initiative also underscores Coinbase’s broader strategy to leverage its balance sheet for ecosystem development. Unlike traditional venture investors focused on equity returns, Coinbase benefits directly from robust on-chain financial infrastructure, as it drives user acquisition and transaction volumes on its Ethereum-compatible Base network and custodial services.

For DeFi participants, the implications are practical. Lower borrowing costs on Aave and Morpho reduce leverage financing expenses. Improved liquidity on Jupiter reduces trade execution costs for Solana users. Concentrated liquidity on Kamino generates better returns for liquidity providers.

Long-Term Infrastructure Development

The stablecoin bootstrap fund represents a long-term commitment rather than a short-term subsidy. By ensuring that major protocols maintain sufficient USDC depth, Coinbase reduces the likelihood of liquidity crises that historically damaged protocol reputation and user trust.

As on-chain finance matures, reliable stablecoin availability will remain critical infrastructure. Coinbase’s relaunch signals confidence in that thesis and willingness to deploy significant capital to support it. Whether other major crypto platforms follow with similar initiatives may determine how quickly DeFi achieves mainstream adoption.

The success of this program could reshape infrastructure expectations across the broader industry. If competing platforms recognize similar competitive advantages, stablecoin liquidity provision may evolve from differentiator into table-stakes requirement, accelerating the capital deployment necessary to achieve institutional-grade on-chain financial services.

For detailed analysis on bitcoin, ethereum, and broader crypto market movements, explore our research sections.

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Coinbase sells zero-coupon bonds in two tranches as deals flood market

Coinbase sells zero-coupon bonds in two tranches as deals flood market

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Coinbase announced a $2 billion convertible bond offering Tuesday, deploying a zero-coupon structure across two tranches as the cryptocurrency exchange seeks to bolster its balance sheet amid softer trading activity and disappointing revenue growth. The move reflects broader momentum in equity-linked securities within the crypto sector, where companies are racing to lock in favorable financing conditions before market conditions shift.

The Bond Structure and Financing Details

The offering splits into two separate tranches, each carrying no coupon payments. The 2029-maturity bonds feature a conversion premium between 50% and 55%, while the 2032 bonds carry a 30% to 35% premium. JPMorgan Chase is underwriting the sale.

To manage potential shareholder dilution, Coinbase structured the offering with a capped call—a derivative strategy that caps the number of new shares issued if bondholders exercise their conversion rights. This approach has become standard practice among large issuers seeking to protect equity holders during convertible debt financings.

The funds could be deployed toward share repurchases or debt reduction.

— Coinbase Official Statement

The company indicated that proceeds may support stock buybacks or retirement of existing debt obligations. Such flexibility gives management optionality depending on how market conditions and business performance evolve over coming quarters.

Key Terms

Zero-coupon bonds pay no annual interest, making them attractive when rates remain elevated. Investors instead receive appreciation if the underlying stock rises above the conversion price, or they receive principal repayment at maturity.

Market Context and Timing

A Crowded Convertible Market

Coinbase’s $2 billion raise arrives amid a broader surge in convertible bond issuance across the cryptocurrency and tech sectors. Michael Saylor’s MicroStrategy and GameStop, led by activist investor Ryan Cohen, have both tapped convertible markets for billions in recent months.

Year-to-date, U.S. companies have raised $51.9 billion through equity-linked securities, according to market data. While that represents solid activity, it trails the $82.6 billion raised during the same period in 2024—a sign that deal flow, though robust, has moderated from last year’s pace.

Industry participants attribute the timing to optimism surrounding Trump administration policies perceived as favorable to digital assets, combined with still-reasonable borrowing costs. Companies appear motivated to secure capital now rather than risk tighter conditions later.

The Cryptocurrency Exchange Landscape

Coinbase operates as one of the largest regulated cryptocurrency exchanges in the United States, serving both retail and institutional clients. The company went public in April 2021 at a $100 billion valuation, making it a bellwether for cryptocurrency market sentiment and regulatory acceptance of digital asset infrastructure.

The exchange generates revenue through three primary channels: transaction fees from trading, subscription and services fees from premium offerings, and other income including staking rewards and lending activities. Unlike traditional securities exchanges, Coinbase’s revenue remains highly correlated with trading volumes and crypto asset prices, creating significant earnings volatility.

In recent years, Coinbase has expanded its business model beyond spot trading. The company has invested in custody solutions for institutional clients, staking services that generate recurring revenue, and educational offerings. These initiatives aim to reduce dependence on volatile transaction fees tied to trading activity.

Stock Reaction and Recent Performance

Coinbase shares declined 4% to $304.04 on the announcement, extending weakness from the prior week. The stock had fallen 17% following the company’s second-quarter earnings release, which revealed revenue that missed analyst expectations.

Despite near-term volatility, Coinbase stock remains up approximately 25% year-to-date, reflecting broader strength in bitcoin and digital asset valuations over the opening months of 2025.

Earnings and Business Fundamentals

Revenue Miss Amid Strong Asset Gains

Coinbase reported second-quarter revenue of $1.5 billion, a 3.3% increase year-over-year but below consensus forecasts of $1.59 billion. The miss was notable given that the company had generated $2 billion in the prior quarter, highlighting the volatile nature of transaction-based revenue tied to trading volumes and crypto price movements.

The company posted net income of $1.43 billion, or $5.14 per share, surging from $36.13 million, or 14 cents per share, in the year-ago quarter. However, much of this profit stemmed from non-operational sources rather than core business strength.

A $1.5 billion gain from the Circle investment and $362 million in cryptocurrency portfolio appreciation drove most of the income beat, masking underlying business pressure.

— Coinbase Q2 Earnings Report

On an adjusted basis, excluding one-time gains, Coinbase earned $1.96 per share, beating the $1.26 estimate from LSEG data. This metric offered some reassurance to investors seeking clarity on operational performance.

Transaction Revenue Under Pressure

Transaction-based revenue, the core engine of Coinbase’s business, totaled $764 million in the quarter, falling short of the $787 million forecast from StreetAccount. This metric measures the company’s ability to generate fees from customer trading activity—a direct indicator of user engagement and market conditions.

The shortfall suggests that despite elevated bitcoin prices and renewed retail interest in digital assets, actual trading volumes at Coinbase have not kept pace with broader bullish sentiment. Competition from other exchanges and changing user behavior may also be contributing factors.

Financial Context

Coinbase’s earnings demonstrate the distinction between headline profit (inflated by investment gains) and operational earnings (reflecting sustainable business activity). Investors focused on long-term growth monitor transaction revenue closely as a bellwether of true business momentum.

The stock declined 8% in extended trading immediately following the earnings announcement, signaling that the market weighted the revenue miss more heavily than the accounting gains.

Regulatory Environment and Market Implications

Coinbase’s financing strategy must be understood within the context of evolving regulatory approaches to cryptocurrency platforms. The company holds Money Transmitter licenses across multiple jurisdictions and operates under heightened scrutiny from the Securities and Exchange Commission regarding certain product offerings.

A stronger balance sheet provides regulatory flexibility and demonstrates financial stability to policymakers considering stricter oversight of digital asset exchanges. The $2 billion raise signals that Coinbase intends to maintain operational independence and capital adequacy regardless of regulatory pressure.

The broader convertible bond market for crypto companies also reflects investor belief that regulatory clarity—particularly under the current administration—will support long-term valuations in the sector. Banks like JPMorgan, which is underwriting Coinbase’s offering, have signaled increased appetite for cryptocurrency infrastructure companies, suggesting institutional confidence in the asset class’s durability.

Strategic Implications

The $2 billion convertible offering provides Coinbase with meaningful financial flexibility at a time when core revenue faces headwinds. By securing capital now, the company avoids potential future fundraising in less favorable market conditions.

Whether proceeds are used for acquisitions, share repurchases, or balance sheet fortification, the move signals management confidence in longer-term business prospects even as near-term trading volumes remain challenged. The zero-coupon structure appeals to Coinbase shareholders because it limits immediate dilution—bondholders only receive shares if the stock appreciates significantly above current levels.

The convertible structure also aligns management incentives with shareholder interests. If Coinbase executes successfully and its stock price rises substantially, the conversion premium becomes meaningful and dilution occurs. Conversely, if the company struggles, bondholders receive par value at maturity, protecting downside while allowing Coinbase to preserve cash and equity.

Future Outlook and Growth Drivers

Looking ahead, Coinbase’s success will hinge on stabilizing transaction revenue growth. Rising ethereum and bitcoin prices alone have not translated into proportional fee generation, suggesting the company must either attract new users, increase trading frequency among existing customers, or expand into higher-margin business lines like institutional services and custody.

The convertible offering provides runway for Coinbase to invest in product innovation, international expansion, and new revenue streams without immediate pressure to generate cash from trading alone. Management can pursue strategic acquisitions that complement core offerings and establish Coinbase as a diversified financial services platform rather than a purely transaction-dependent exchange.

Institutional adoption of digital assets represents a significant long-term opportunity. As corporate treasuries and pension funds allocate to bitcoin and blockchain-based securities, platforms offering custody, settlement, and treasury management services will capture outsized revenue. Coinbase’s early positioning in institutional services positions the company to benefit from this secular shift.

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Contains attains $100b valuation high

Contains attains $100b valuation high

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The biggest crypto exchange platform, Coinbase, was at a pivotal crossroads during Monday’s trading session just after Bitcoin sailed to record price heights over the weekend.

According to data from sources, Coinbase’s stock ended up 1.8% at $394.01 per share on the day. At the same time, shares hit a peak of $398.50. 

At today’s closing price, Coinbase has a market cap of nearly $100.36 billion, the highest market cap the crypto exchange has recorded in history.

Bitwise CIO anticipates Coinbase becoming a trillion-dollar company at some point

Coinbase shares have popped 50% in the past month alone in conjunction with the highly successful initial public offering (IPO) of Circle Internet Group and favorable regulatory changes in the United States. 

The crypto exchange also encountered a significant achievement on May 19 after adding it to the S&P 500 index. This milestone distinguishes Coinbase as the first cryptocurrency-focused company to gain entry into this benchmark, highlighting its growing legitimacy within the financial sector.

This month, Coinbase experienced a steady increase in revenue that did not come from transactions in the last year, totaling $772 million in the first three months, according to analysis from sources.  Last week, the company brought on a user named AlexOnchain to help increase its social media presence. 

Bitwise CIO Matt Hougan had previously forecasted Coinbase’s significant milestone. Based on his anticipation, the firm could eventually become a trillion-dollar company.

On May 13, in an X Post, Hougan advised investors to choose a company currently worth less than $100 billion but has the best chance of reaching a value of over $1 trillion. He gave Coinbase as an example, which is valued at $61 billion.

Coinbase’s stock rebounds amid growing adoption of cryptocurrencies

On June 26, Coinbase’s shares had also experienced a surge, closing at a record high in a rally that increased the embrace of cryptocurrencies on Wall Street and Washington.

This came after the stock of the crypto exchange operator jumped 5.5% to $375.07. That surpasses the previous peak of $357.39 in November 2021, only a few months after the company became public with a direct listing.

Notably, Coinbase shares have soared more than 1,000% from a record low in late 2022, when the failure of FTX had cast further doubt on the digital asset’s future.

The stock’s rebound came as cryptocurrency prices recovered, and the industry itself secured powerful new allies, including President Trump, a strong crypto supporter who has embraced crypto stances in the US.

Another important milestone that contributed to the crypto exchange’s share surge was after the US Senate approved legislation for stablecoins pegged to the dollar, which are considered a promising payment method.

Benchmark analyst Mark Palmer highlighted the significance of stablecoins in the company’s operations. According to him, revenues generated from stablecoins will probably enable the company to reduce its dependence on trading revenue, which is under pressure from competition. 

Following trade analysis, Coinbase’s main source of revenue has emerged from stablecoins. Therefore, with these new regulations, the crypto exchange will achieve financial stability and continuous success.

Republican House leaders are preparing to pass a stablecoin regulatory bill this week, aiming to send Congress’s first major piece of digital asset legislation to the president’s desk. The vote marks the beginning of what supporters are calling “Crypto Week” — a series of decisions that could reshape the crypto landscape in the US.

The proposed legislation, backed by industry leaders, is expected to bolster the adoption of dollar-based stablecoins. If passed, it would represent a significant win for crypto proponents, who collectively invested hundreds of millions of dollars during the last election cycle to help install lawmakers favorable to digital asset innovation, according to Federal Election Commission data.

“The golden age of digital assets is here,” said Rep. Bryan Steil (R-WI), a key industry ally and chair of the House crypto subcommittee.

President Donald Trump, now prioritizing digital asset regulation in his second term, has vowed to make the United States the “crypto capital” of the world.

His family’s involvement in crypto ventures — which has reportedly earned them hundreds of millions of dollars — has drawn criticism from Democrats, some of whom have pushed, unsuccessfully, to include prohibitions targeting Trump-affiliated crypto businesses in the legislation.

The House is also set to vote this week on two additional industry-supported bills: one to establish comprehensive market structure rules for cryptocurrencies, and another to block the Federal Reserve from launching a digital currency.

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