Coinbase Shares Slide As Crypto Market Faces Broad Sell-Off

Group 1 - Bitcoin is leading the market lower amid macro pressures that are weighing on sentiment [1] - Innovation is occurring in the mortgage sector, allowing borrowers to use Bitcoin or USDC as collateral for Fannie Mae-eligible mortgages, which is seen as a significant first step [1] Group 2 - Regulatory changes are anticipated, with CFTC Chairman Mike Selig expecting the approval of crypto perpetual futures within weeks, aimed at bringing offshore trading volume back to U.S. markets [2] - Coinbase is currently using 50-year contracts as a workaround for crypto perpetual futures products [2] - Coinbase Global shares experienced a decline of 3.44%, trading at $167.41 during premarket trading [2]