Coinbase-Circle Stablecoin Agreement to be Revised Due to GENIUS Act, VanEck Claims ‘We Were Aware’
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Should l Buy COIN?
Source: stocktwits
Proposed Guidance on Stablecoin Issuance: The OCC's proposed guidance on stablecoin issuance aims to formalize existing provisions in the law, limiting each permitted payment stablecoin issuer to a single branded stablecoin.
Revenue-Sharing Agreement: Coinbase's revenue-sharing deal with Circle is due for renewal this year, with Coinbase set to receive 100% of the interest generated on its platform from USDC holdings.
Market Reactions: Coinbase's stock experienced fluctuations, dipping 0.7% in pre-market trading after a previous fall of 1.5%, while retail sentiment around the company remained neutral.
Implications of the GENIUS Act: The GENIUS Act's restrictions on stablecoin rewards could impact third-party issuers, potentially allowing them to bypass the law's intent through alternative arrangements.
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Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 175.850
Low
230.00
Averages
361.63
High
440.00
Current: 175.850
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the cryptoeconomy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Everything Exchange Strategy: Coinbase launched its 'Everything Exchange' strategy in December 2023, aiming to expand the number of tradable assets from hundreds to tens of thousands, which is expected to significantly boost revenue and profitability in the coming years.
- Infrastructure Role: Coinbase's ongoing investment in crypto infrastructure positions it as the first publicly traded company to build its own blockchain, with the launch of the Base blockchain serving as a crucial experimental platform for decentralized finance and real-world asset tokenization.
- New Service Launch: Coinbase recently introduced stock and ETF trading for U.S. customers and partnered with Kalshi to offer prediction markets, further broadening its service offerings and enhancing its competitive edge in the market.
- Market Performance Analysis: Despite Coinbase's stock declining by 20% in 2026, its potential as a core crypto infrastructure provider remains undervalued, suggesting that investors should reassess its long-term value.
See More
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- Call for Stablecoin Regulation: Jamie Dimon emphasized during a CNBC interview that any cryptocurrency firm offering stablecoin rewards should be subject to banking regulations, asserting that rewards are essentially interest, and if firms hold balances and pay interest, they should be treated as banks.
- Principle of Fair Competition: Dimon highlighted the numerous strict regulations banks must follow, including deposit insurance and anti-money laundering, arguing that the cryptocurrency industry should compete in a fair and transparent environment to maintain financial market stability.
- Support for Technology and Innovation: While cautious about stablecoins, Dimon reiterated support for blockchain technology, mentioning the launch of JPM Coin and advancements in stablecoins and asset tokenization, indicating the bank's proactive stance in the digital asset space.
- Market Reaction: Following Dimon's remarks, JPMorgan's stock fell 0.91% during regular trading to close at $297.56, reflecting a cautious market response to his statements, with a weaker price trend observed in the short term.
See More
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- Market Rebound: Leading cryptocurrencies made a strong comeback on Monday, with Bitcoin touching $70,000 and Ethereum crossing $2,000, indicating a resurgence of investor confidence despite escalating tensions in the Middle East.
- Surge in Trading Volume: Both Bitcoin and Ethereum saw significant spikes in trading volumes, even as Bitcoin's market share narrowed to 58.5% and Ethereum's dominance shrank to 10.4%, suggesting a shift towards an Altcoin Season in the market.
- Increased Liquidation Risks: Nearly $430 million was liquidated from the market in the last 24 hours, with over $200 million in short liquidations alone, and an additional $387 million in Bitcoin shorts facing liquidation risk if prices rebound to $72,000.
- Futures Market Dynamics: Open interest in Bitcoin futures rose by 4.93% over the last 24 hours, reflecting a bullish sentiment among market participants, although retail sentiment shifted to neutral, indicating a complex market environment.
See More
Mixed Close for US Stocks Amid Iran War Impact
- Mixed Market Performance: On Monday, the S&P 500 closed up 0.04%, while the Dow Jones Industrial Average fell 0.15%, and the Nasdaq 100 rose 0.13%, reflecting a divergence in market sentiment influenced by the ongoing war in Iran, with increased demand for defense and energy stocks.
- Surge in Oil Prices: WTI crude oil prices soared over 6% to an 8.25-month high following Iran's attack on oil tankers, which is expected to elevate inflation expectations and impact the overall economic environment and investor confidence.
- Strong Manufacturing Index: The US February ISM manufacturing index unexpectedly rose to 52.4, surpassing the market expectation of 51.5, indicating economic resilience that could influence the Federal Reserve's monetary policy direction, leading to shifts in future rate hike expectations.
- Optimistic Earnings Outlook: More than 90% of S&P 500 companies have reported earnings, with 73% exceeding expectations, and Q4 earnings growth is projected at 8.4%, providing market support despite geopolitical risks.
See More
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- ETH Staking Scale: Bitmine currently stakes 3,040,483 ETH, valued at approximately $6 billion, showcasing its significant influence in the Ethereum market and expected to further enhance its market position.
- Investment and Asset Portfolio: Bitmine's total assets amount to $9.9 billion, including 4.474 million ETH, $868 million in cash, and other crypto assets, indicating its diversified investment strategy in the crypto asset space.
- Market Trading Performance: Bitmine's stock has an average daily trading volume of $800 million in the U.S. market, ranking 145th, reflecting its popularity and liquidity among investors.
- Future Strategic Planning: Bitmine plans to launch the MAVAN staking solution in 2026, aiming to provide industry-leading staking infrastructure, further solidifying its leadership position in the cryptocurrency sector.
See More
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- Market Reaction: Stocks initially retreated following the US and Israel's joint military actions against Iran, but rebounded after the February ISM manufacturing index exceeded expectations, indicating investor focus on economic data.
- Surge in Energy Prices: The halt of tanker traffic through the Strait of Hormuz due to Iran's attacks on three oil tankers led to WTI crude oil prices soaring over 65% to an 8.25-month high, potentially exacerbating global inflationary pressures.
- Defense Stocks Rise: The ongoing conflict in Iran has bolstered earnings prospects for defense companies, with Aerovironment's stock rising over 12%, while Northrop Grumman and RTX Corp also saw increases of over 4%, reflecting market optimism about defense spending.
- Economic Data Focus: Investors are keenly awaiting upcoming economic data releases, including ADP employment changes and the ISM services index, which are expected to influence future monetary policy directions amid rising inflation concerns.
See More
