Dogecoin slid to an intraday low of $0.121 on Coinbase Monday, dropping more than 7% amid a wider crypto sell-off. Traders note oversold technical readings that could act as a near-term floor for the meme token.
Coinbase and several other crypto firms pulled support for a key bill after provisions on decentralized finance, expanded SEC authority, and limits on stablecoin yield sparked industry alarm. The pushback raises fresh uncertainty about the legislation's prospects and market implications.
Coinbase's CEO said tokenized stocks are 'inevitable' despite uncertainty around the CLARITY Act, signaling continued product focus and investor interest. Meanwhile BNB Chain has overtaken Solana as the leading platform for tokenized stocks.
Coinbase CEO Brian Armstrong said there is no clash with the White House and that talks remain ongoing as the industry works on proposals tied to the CLARITY market-structure bill. The focus is on ways to support community banks' role in crypto.
The White House has warned it may withdraw backing for a proposed crypto market bill after Coinbase said it does not support the legislation’s current approach. The dispute widens a split between regulators and major industry players and could reshape the bill’s future.
Coinbase’s pushback against the CLARITY Act coincided with a Senate delay on the bill and a sharp sell-off in crypto-related equities, with Circle, Robinhood and Coinbase each sliding over 6%. The episode highlights renewed market sensitivity to regulatory outcomes.
Coinbase CEO Brian Armstrong told CNBC his firm withdrew support for a wide-ranging digital assets bill after finding provisions that could harm consumers and suppress competition. The move signals renewed industry scrutiny of proposed crypto regulation.
At the CfC St. Moritz conference in the Swiss Alps, Ripple CEO Brad Garlinghouse addressed the ongoing dispute with Coinbase and said it reflects a widening split in the industry. His comments raised fresh questions about exchange-token relationships and regulatory clarity for XRP holders.
House Democrats accused the SEC of fostering a “pay-to-play” culture after it dropped enforcement actions involving Binance, Coinbase, Kraken and Justin Sun in a letter sent Thursday. Lawmakers say the moves raise serious questions about regulatory fairness.
Coinbase announced it is withdrawing support for a proposed crypto market structure bill, with CEO Brian Armstrong saying the measure had "too many problems." The move raises new questions about the bill's path forward and industry consensus.