News linked to both this project and an event.
Odaily reports: After perpetual futures entered the regulated US market, Wall Street institutions are still taking a wait-and-see approach. Bank of America estimates that the global annual trading volume of perpetual futures is approximately 90 trillion USD; within a week of Kalshi launching perpetual futures in June, trading volume exceeded 1 billion USD. Perpetual futures are similar to standard futures but have no expiration date, meaning traders do not need to close or roll over positions monthly or quarterly. Instead, periodic funding rates keep the contract price close to the underlying asset. On May 29, the US Commodity Futures Trading Commission (CFTC) approved Kalshi to offer such contracts, and Coinbase also received approval to list regulated perpetual futures in the US. Insiders say that large financial institutions are still studying these products, with proprietary trading firms, market makers, and emerging clearing firms likely to be the first to participate. Large banks face stricter capital rules, client obligations, and reputational risks, and typically wait for years of data, clear regulatory treatment, and stable infrastructure. Perpetual futures may also be used to manage weekend risk, but market depth remains a concern. Industry insiders note that regulatory disagreements are emerging over whether certain contracts should be classified as futures or swaps, and CME has already challenged the CFTC's handling of Kalshi's Bitcoin perpetual contract.
Coinbase is undergoing its most significant executive reshuffle in recent years. Chief People Officer Lawrence Brock has stepped down and transitioned to an advisory role; Greg Tusar, co-head of the institutional division, has moved to a policy position; previously, General Counsel Paul Grewal had planned to leave, and Jesse Pollak stepped down as head of the Base app. After cutting 14% of its workforce in May, Coinbase is accelerating its transformation into an all-asset trading platform encompassing stocks and prediction markets.
Odaily news The U.S. Securities and Exchange Commission (SEC) has agreed to pay $150,000 to resolve a Freedom of Information Act (FOIA) lawsuit concerning its records on the Ethereum investigation. According to a joint case status report filed on July 22, the SEC and the plaintiff, History Associates Inc., have reached a settlement and have requested the United States District Court for the District of Columbia to dismiss the case.Under the agreement, the SEC will continue to provide the remaining relevant documents and pay a fixed amount to cover the plaintiff's legal fees. The lawsuit was filed by History Associates in June 2024. This agency, commissioned by Coinbase, demanded the SEC disclose materials related to its regulatory investigation of Ethereum, including investigation files on Zachary Coburn and Enigma MPC, as well as records of regulatory discussions regarding Ethereum's transition from proof-of-work (PoW) to proof-of-stake (PoS).Previously, this lawsuit prompted the SEC to deliver thousands of documents. The court also ordered the SEC to prioritize providing internal communications sent, received, or reviewed by then-Chairman Gary Gensler regarding Ethereum's migration from PoW to PoS.During the case, the SEC sparked controversy for deleting some of Gensler's text message records. The SEC's Office of Inspector General previously disclosed that the agency accidentally deleted Gensler's text messages from October 2022 to September 2023. Subsequent documents revealed that the SEC also wiped data from 21 senior officials' phones.Coinbase CEO Brian Armstrong stated that the incident highlights transparency issues within government agencies during the crypto regulatory process and noted that the relevant lawsuits aim to promote public access to the basis for regulatory decisions. With the SEC completing the submission of the remaining documents, this lawsuit, which has lasted for over two years, will officially come to an end. (CoinDesk)
Coinbase has announced a partnership with Mubadala Capital, part of the Abu Dhabi sovereign wealth fund, and KAIO, a tokenization infrastructure provider, to issue compliant on-chain tokens for Mubadala's evergreen private market fund, open to qualified investors.Coinbase will not only support the token issuance through the Base network but will also purchase the token and include it on its corporate balance sheet, marking the first time a major US-listed company has used a regulated tokenized real-world asset (RWA) for native on-chain treasury management. The product will also be deployed on the Solana and Sui networks, with KAIO providing compliant tokenization infrastructure. To date, the project has attracted approximately $75 million in funds, while Mubadala manages assets nearing $400 billion. (Fortune)
: Hassan Ahmed, Head of Coinbase Singapore, stated that the company plans to increase its Singapore workforce from the current approximately 150 employees to around 200 by the end of 2026. Future hiring priorities will focus on positions in engineering, customer service, client relationship management, and institutional sales. On the same day, Coinbase officially inaugurated its Singapore office located at One Raffles Quay. Hassan Ahmed said that Singapore is "one of the world's most trusted financial hubs and one of Coinbase's fastest-growing international markets." He noted that the new office reflects the company's long-term confidence in Singapore as a strategic hub for innovation, talent, and responsible growth in the Asia-Pacific region. It will also help the company collaborate more closely with local regulators, continue investing in talent, and further expand its partnerships.
U.S. Senate Republicans on Wednesday released a 616-page draft of the new Clarity Act, a significant legislative development in Congress's efforts to comprehensively regulate the digital asset industry. The crypto industry widely welcomed the draft, noting it retains protections for software developers and is expected to provide long-missing regulatory clarity for the U.S. digital asset market.Crypto Council for Innovation CEO Ji Hun Kim stated that bipartisan support is "critical" for the bill's passage. Solana Policy Institute CEO Miller Whitehouse-Levine called on Congress to seize the opportunity, while Coinbase CEO Brian Armstrong remarked that the lack of a federal regulatory framework had previously allowed bad actors like FTX to harm consumers and forced a substantial amount of crypto business to move overseas.However, several Senate Democrats quickly voiced opposition, arguing that the ethics provisions in the new text addressing conflicts of interest related to Trump's crypto assets are too weak. Senator Angela Alsobrooks stated that the current proposal put forward by Republicans is still "not enough," and that provisions concerning elected officials' ethics, consumer protection, illicit finance, conflicts of interest, and market integrity all require strengthening.
Mizuho analysts stated that if the U.S. crypto market structure bill, the "Clarity Act," is passed, while it may generally benefit the digital asset industry, the long-term impact on Circle could be negative. The reason is that regulatory clarity will attract more large institutions into the stablecoin market, further accelerating stablecoin commodification and eroding the revenue potential of Circle's USDC.Mizuho believes that the primary pressure Circle faces in the near term comes from Open USD. This stablecoin project is backed by a coalition of over 140 financial, technology, and crypto companies, with members including Visa, Mastercard, Stripe, BlackRock, and Coinbase. Unlike Circle's model, which retains approximately 38% of USDC reserve yields, Open USD employs a "pass-through" model, distributing nearly all reserve yields to distribution partners while retaining only a small management fee.Analysts also noted that Coinbase, as the largest distributor of USDC, also supports Open USD. This could give Coinbase stronger bargaining power when renegotiating its revenue-sharing agreement with Circle in the future. The distribution agreement between the two parties could be up for renegotiation as early as next month.
the U.S. SEC and Coinbase reached a settlement on Wednesday, ending a multi-year legal dispute over the handling of record requests during the Gensler era.According to court filings, the SEC agreed to pay $150,000 in legal fees to History Associates and release two documents that had been previously withheld. Additionally, the SEC will review its record management procedures, as well as the retention methods for communications such as text messages.The case originated from Coinbase suing the SEC and FDIC separately in 2024 through the consulting firm History Associates, accusing both regulatory agencies of failing to comply with Freedom of Information Act (FOIA) requests. Coinbase stated that these record requests were related to whether regulators were attempting to cut off the crypto industry's connection with the banking system.In a Wall Street Journal op-ed, Coinbase Chief Legal Officer Paul Grewal stated that former SEC Chairman Gary Gensler had launched a “litigation campaign” against the crypto industry. During Gensler's tenure, the SEC sued Coinbase and several other crypto companies, alleging they failed to comply with federal securities registration requirements.Grewal noted that the settlement has long-term implications, as the FDIC and SEC are rewriting disclosure and record-keeping practices, which could enhance regulatory transparency and limit the ability of regulators to overreach behind closed doors in the future.
According to a post by a16z crypto researcher Robert Hackett and data advisor Ryan Holloway, the tokenized stock market is experiencing explosive growth. As of June 2026, the total market capitalization of tokenized stocks reached approximately $1.7 billion, representing a more than fivefold increase from $329 million a year earlier, making it one of the fastest-growing categories among tokenized assets. On-chain data shows that monthly transfer volume surged from $53 million last June to $9.22 billion this June, a year-over-year increase of more than 170 times. The market structure has also changed significantly: the proportion of crypto-related products dropped from 79% to 21%; the AI and chip category jumped from nearly zero to a market share of 15.5%; tech giants rose from 0.6% to 10.6%; and ETFs and indices increased from 4.5% to 17.3%. At the institutional level, DTCC has completed the first live trades of tokenized Treasury bonds and stocks on Digital Asset's Canton network, with full services planned to launch in October, which will open access for Wall Street to approximately $114 trillion in DTC custodied assets. Meanwhile, Robinhood has launched its own chain, NYSE's parent company announced a joint venture with OKX (pending regulatory approval), and Coinbase and Binance have also sequentially launched offerings for non-U.S. users.
Odaily reports, according to Coinbase Chief Legal Officer Paul Grewal, the U.S. SEC will pay Coinbase $150,000 to settle a Freedom of Information Act lawsuit and revise its record-keeping policies.
According to Bitcoin Magazine, the head of Coinbase Canada stated that the company is pushing to expand its business footprint in Canada, with the goal of building an "all-in-one exchange" covering crypto assets, tokenized stocks, and prediction markets. The plan aims to leverage blockchain technology to provide a more efficient, 24/7 trading experience. Currently, Coinbase is coordinating with Canadian regulators regarding the launch of related products.
According to Reuters, the Johor state government of Malaysia has revoked the business license of the digital nomad community Network School, founded by American investor and former Coinbase CTO Balaji Srinivasan, and required it to cease all operations in Forest City starting from July 22. The project was previously investigated after being accused on social media of assisting Israeli citizens in entering Malaysia, but the immigration department stated after inspection that the relevant members held valid travel documents. The Johor state government stated that the decision to revoke the license was made based on inspection reports, law enforcement results, and the company's statements.
Coinbase CEO Brian Armstrong has responded to recent controversy surrounding his X account profile picture change and claims that the Base community is "unsupported." He thanked the community for their feedback and acknowledged that his previous communication regarding expectations was not clear enough. Users should not interpret the content of his personal X account as investment advice or signals for individual tokens. He stated that he simply shares internet content he finds interesting or amusing, and may not even be aware whether such content is associated with any particular token or project. He pointed out that his tweets and profile picture changes do not represent endorsements of or commitments to any project.Regarding support for the Base ecosystem, Brian Armstrong explained that Base aims to build financial services infrastructure, supporting various application scenarios including stock tokenization, lending protocols, stablecoin payments, and Meme coin trading. Coinbase supports users in freely trading assets but will not use its official influence to "pump" or promote specific tokens. Both Coinbase and the Base team are indeed subject to compliance and regulatory restrictions, preventing them from listing certain tokens on the centralized exchange and from marketing specific projects at the community's request.Base currently supports ecosystem development primarily through offline Base Batches events, developer grant programs, and investments from Coinbase Ventures and the Base Ecosystem Fund. Additionally, based on long-term user value assessment, Coinbase may integrate certain Base ecosystem DeFi protocols into its own products to help projects expand distribution.Brian Armstrong stated that Coinbase will continue to prioritize projects capable of creating long-term user value in the future, and expressed hope that this clarification will help the community set clearer expectations. He added that he may still continue to post Meme content he finds interesting, but such content will not constitute investment advice.
U.S. Senator Elizabeth Warren on July 16, 2026, asked President Donald Trump to release a full financial disclosure through July 15, covering his cryptocurrency income. The Senate is currently reviewing the CLARITY Act, a crypto market structure bill. The U.S. Office of Government Ethics released Trump's 2025 annual public financial disclosure on June 30, 2026. Warren stated the report shows Trump's crypto-related revenue at approximately $1.4 billion, more than double his total income in 2024, with crypto businesses accounting for the vast majority of his disclosed income. The disclosure documents show that Trump family members hold a 30% ownership stake in DT Marks Defi LLC, an entity whose assets include a Coinbase account valued at over $100 million, as well as a 38.25% interest in WLF Holdco LLC. DT Marks Defi LLC generated over $590 million in revenue in 2025. Trump stated on July 2 that the related income "is not illegal in any way, nor is there any problem," adding that his involvement in cryptocurrency predates his second term. He said he does not personally track profit details and noted that large institutions manage his investments.
Odaily News: Coinbase CEO Brian Armstrong stated that self-custody wallets are the only way to bring the open financial system to over 1 billion users. He pointed out that alternatives like the Coinbase App work well in developed countries with clearer regulations, but the U.S. only accounts for 4% of the global population. Armstrong noted that self-custody reduces friction in account opening and registration, is globally accessible, and scales via software, rather than requiring regulated entities and local teams in every country. He also added that AI agents adopting self-custody forms are better suited to access funds and complete tasks, and that even in developed nations, self-custody is crucial for economic freedom. Former Base lead Jesse Pollak previously announced his departure, handing over Base to Jordan Fish. Pollak stated that Base will be built as a global financial blockchain. Under Cobie's leadership, Base will pivot towards three core areas: trading, payments, and agents.
Coinbase officially announced that the regulated derivatives clearing business of UK financial services group Marex has now formally supported the use of USDC as Initial Margin collateral. This marks the first entry of a stablecoin into the actual operational processes of traditional clearing infrastructure. The first transaction was completed by Prime Trading, LLC, with Coinbase providing the underlying infrastructure support, including custody services, 1:1 instant conversion between fiat currency and USDC, and a customized daily reporting system that meets clearing industry standards.The implementation of this business was made possible by a "No-Action Letter" issued by the U.S. Commodity Futures Trading Commission (CFTC) in December 2025. This policy opens the door for Futures Commission Merchants (FCMs) to accept stablecoins, Bitcoin, and Ethereum as client margin collateral.Coinbase stated that USDC, as a collateral asset, can provide round-the-clock liquidity, helping institutions break free from the limitations of traditional banking hours, allowing margin funds to be transferred in line with market operating hours. In this partnership, the core capabilities provided by Coinbase include:24/7 instant conversion between fiat currency and USDC: Institutional clients can convert between USD and USDC at any time, improving the efficiency of margin allocation;Customized reporting system: Meets the requirements of traditional clearing systems for asset recording, reconciliation, and regulatory reporting;NYDFS-compliant custody: Provides institutional-grade security for USDC collateral assets.
Coinbase stated on X platform that Marex is leveraging Coinbase infrastructure to enable clients to use USDC as initial margin for US regulated futures and options, providing its traders with a new level of capital efficiency.
ARK Invest’s Head of Research, Lorenzo Valente, recently publicly refuted a16z Crypto’s assertion that “traditional finance needs blockchain, not DeFi,” arguing that financial institutions are more likely to be built on open DeFi infrastructure in the future. Public blockchains have already demonstrated their advantages over private blockchain solutions. The growth of tokenized assets on open networks like Ethereum highlights the stronger network effects and scalability potential of public blockchains.Lorenzo Valente pointed out that the builders of the next generation of financial infrastructure may not be traditional financial institutions, but rather crypto-native enterprises, such as Circle and Coinbase.Earlier, a16z Crypto presented a differing view, suggesting that traditional financial institutions are not truly embracing DeFi, but are selectively adopting blockchain technologies that meet their existing compliance, governance, and operational requirements. Banks and asset management firms will build “programmable financial infrastructure” in the future, leveraging core capabilities of blockchain like tokenization and atomic settlement, but while maintaining permissioned management and institutional control.Sentora co-founder Jesus Rodriguez also raised objections to a16z’s stance. He argued that financial institutions might eventually adopt the underlying DeFi infrastructure and layer compliance, custody, and enterprise-grade control mechanisms on top of it.With the rapid development of RWA tokenization, on-chain settlement, and institutional-grade financial applications, the debate over the future dominance of “open DeFi architecture” versus “permissioned blockchain systems” is intensifying. (Cointelegraph)
According to Visa's official website, Visa and Artemis jointly released a report that deeply analyzes the current status and trends of AI agent payments based on real-time on-chain data. The report indicates that AI agent payments are divided into two categories: one is "macro commerce" where agents replace users to complete tasks like booking tickets and subscriptions, similar to traditional e-commerce payments; the other is "micro commerce" such as high-frequency, low-value API calls between software, where single transaction amounts are typically less than 1 cent. On-chain data shows that the open protocol x402, incubated by Coinbase and Cloudflare and now hosted by the Linux Foundation, has processed approximately 109 million transactions since launching in May 2025, with an adjusted transaction volume of about $15 million, mainly active on the Base, Solana, and Polygon chains; the Machine Payment Protocol (MPP), jointly built by Stripe and Tempo with Visa's contribution, launched in mid-March 2026 and completed approximately 115,000 transactions within weeks, with a settlement amount of about $25,000. The report notes that blockchain settlement costs have dropped to extremely low levels, making small payments in the 1-cent to 1-dollar range economically feasible for the first time, but agent payments still face significant challenges at the legal and regulatory level regarding trust, liability attribution, and dispute resolution. Visa stated that its goal is to build a unified foundation that simultaneously supports card-native trust authorization and machine-native settlement
Coinbase disclosed AI has assisted in writing over 95% of code, doubling the proportion from February; the EU warns the end of the MiCA transition period may exacerbate compliance pressure.