Coinbase Threatens to Oppose CLARITY Act Over Stablecoin Rewards, Potential $1.3B Revenue Impact
- Stablecoin Rewards Dispute: Coinbase has informed U.S. lawmakers that it may withdraw support for the CLARITY Act if it restricts stablecoin rewards, a stance that directly impacts its core business and competition in the stablecoin market.
- Revenue Source at Risk: Coinbase's interest income from reserves backing Circle's USDC is projected to reach about $1.3 billion by 2025, and if rewards are curtailed, user willingness to hold USDC may decline, jeopardizing this revenue stream.
- Complex Legislative Background: Following the passage of the GENIUS Act, Coinbase argues that limiting platform-based rewards would undermine previously settled compromises, potentially hindering the advancement of the market structure bill and affecting the stability of the entire crypto industry.
- Increased Political Pressure: As the legislative process advances, Coinbase's threat to withdraw support, given its status as a major political donor, could influence congressional decisions, with analysts warning that further erosion of bipartisan support could sharply reduce the likelihood of the bill passing this year.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for 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, 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 $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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