Coinbase Shares Slide Amid CLARITY Act Gridlock

Coinbase shares dropped 2.1% to $147.36 on Tuesday amid uncertainty surrounding the CLARITY Act, which aims to establish a formal split of crypto regulatory authority between the SEC and CFTC.

The bill has stalled in the Senate, leaving investors looking for alternative relief from agency rulemaking.

An August 13 meeting on cryptocurrency regulations was called off due to an unforeseen scheduling issue, according to Reuters.

Average analyst price targets for Coinbase range from $95 to $330, with the highest projection nearly three and a half times greater than the lowest.