Coinbase Stock Jumps Despite Failed Crypto Bill
The Senate's crypto market structure bill has stalled once again due to unresolved ethics provisions tied to Trump's crypto business interests and some Republican opposition.
Despite this setback, Coinbase Global Inc. (NASDAQ:COIN) stock is up today, with a price of $204.12 at the time of publication, according to Benzinga Pro.
The bill, known as the CLARITY Act, would have handed the CFTC primary authority over digital assets, but it needed 60 votes to advance and failed 49-50 in the cloture vote.
Coinbase spent over a year publicly pushing for this legislation, but its lobbying efforts were aimed at creating a more favorable regulatory environment for 2027 and beyond.
The company's current model is holding up fine without the bill, with analysts expecting total trading volume to fall by roughly 44% this year before rebounding more than 32% in 2027.