On March 26, Goldman Sachs slashed Coinbase's (NASDAQ: COIN) price target. The change came two days after the stock experienced a downward pull when reports of a new draft of the stablecoin bill appeared. Coinbase has been one of the biggest advocates when it comes to stablecoin rewards. CEO Brian Armstrong has repeatedly said that allowing it is important for American citizens to "earn more on their money." In January, the company went as far as pulling back support from the CLARITY Act when a draft d ...

Circle shares pared losses on Wednesday after developments surrounding stablecoins on Capitol Hill sent them tumbling a day before alongside rival Tether’s audit announcement. The New York-based stablecoin issuer’s shares changed hands around $102.50, trimming a 22% decrease on the week, according to Yahoo Finance. Not long after the opening bell on Wednesday, Circle’s stock price jumped to $110 before settling lower. Tuesday’s plunge came as crypto lobbyists mulled changes to market structure legislation ...

Circle (CRCL) rebounded as much as 7% on Wednesday, recovering from its biggest single-day drop on record as Wall Street digested details of proposed legislation that would limit rewards on stablecoin balances. Rising competition from rival Tether may also have contributed to the dramatic move, which saw Circle fall 20% on Tuesday. Trading platform Coinbase (COIN), a Circle partner that receives revenue from the stablecoin issuer, also rebounded 4% on Wednesday after sinking 8% in the prior session. (D ...

Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. And check out our new daily news show covering all of the top stories in 5 minutes or less, downloadable on Apple Pod or Spotify. GM! Today’s top news: Crypto majors gring higher as U.S. lays out path to end war; BTC +1% at $71.4k TAO leads all top movers, jumps 15%; Intel co-authors whitepaper with subnet team Circle stock drops 20% over new ...

Stablecoin issuer Circle saw its stock take a 20% dive Tuesday following a double shot of potentially concerning news for the firm behind the prominent USDC stablecoin. As of the close of trading, CRCL changed hands for $101.24, falling just over 20% on the day—and it's ticking down further in after-hours trading thus far, as of this writing. Shares of the closely aligned crypto exchange Coinbase also fell nearly 10% on the day, finishing at $181.04. Early Tuesday, stablecoin rival Tether—issuer of the ...

Here’s what investors need to know.Coinbase Global shares are retreating from recent levels. Why are COIN shares down?Industry Insiders View Draft As RestrictiveCoinDesk also reported that the language was viewed by industry insiders as restrictive and unclear, with activity-based rewards still potentially allowed but balance-based rewards effectively banned.That news helps explain weakness in both names because it strikes at one of the most attractive use cases for stablecoins: turning idle digital dollars ...

One of the most important things that we have been talking about on the channel is of course the passing of the clarity act. This is a very important bill for the entire industry. Not just because of what it unlocks for digital assets but for what it does for the participants, right? Because again we think about a lot of these big players. We think about institutional players, banking players, hedge funds, um you name it. They want clarity. They do not want to go in without guard rails. Which means there's ...

📣FIGURE | CRYPTO-BACKED LOANS & ~9% RWA YIELD https://bankless.cc/Figure --- Ryan and David break down a week where war hit markets, and the safe-haven playbook broke down. Oil spiked, gold failed, bonds sold off, the dollar caught the flight to safety, and crypto somehow bounced right through it. Then they unpack Trump’s public pressure campaign against banks over stablecoin yield, Kraken’s historic Fedwire breakthrough, and why crypto is starting to look less like an outsider and more like part of the fin ...

quick on on on this crypto legislation that seems to be hung up in the Senate. Uh, Secretary, do you expect that the Clarity Act uh will in fact come back for a markup and and why are we having a debate about bank margins? Where do you stand on this? Do you think crypto platforms should be able to pay rewards, pay customers for moving stable coin or or or money out of uh traditional bank deposit accounts and and keep them in crypto platforms? Where are you on that issue? Uh again, Maria, I I I think what we ...

Stablecoin yield has zero to do with my existence, nor does it dictate my future.These bills are for the 99% non decentralized, non pre-mined, fairly launched money. ...