Coinbase Raises Concerns Over Stablecoin Rewards in CLARITY Act
- Legislative Risk: Coinbase is intensifying its engagement with lawmakers due to concerns that provisions in the CLARITY Act regarding stablecoin rewards could undermine its business model, potentially leading the company to reconsider its support for the legislation.
- Industry Opposition: Traditional banking groups have vocally opposed stablecoin reward programs, warning that such products could divert up to $6.6 trillion from the traditional financial system, prompting lawmakers to push for stricter regulations.
- Revenue Impact: Stablecoins have become a significant revenue contributor for Coinbase, generating nearly $247 million in Q4, and restrictions on stablecoin rewards could substantially reduce income across major crypto trading platforms.
- Policy Uncertainty: Despite potential delays in the legislative process until 2027 due to upcoming US elections, Senate Banking Committee Chair Tim Scott remains optimistic about moving legislation quickly, emphasizing the goal of delivering tangible results for the American public.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for DEFI
Technical Sentiment Analysis for DeFi (DEFI) As of , DeFi (DEFI) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for DEFI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, DEFI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
DeFi (DEFI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.000197 | 0.000246 | 0.000294 | 0.000343 | 0.000391 | 0.00044 | 0.000488 |
| Fibonacci | 0.000246 | 0.000283 | 0.000306 | 0.000343 | 0.00038 | 0.000403 | 0.00044 |
About DEFI
About the author
