Coinbase Withdraws Support for Crypto Legislation, But Analysts See Hope
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 29 2026
0mins
Should l Buy COIN?
Source: Benzinga
- Withdrawal of Support: Coinbase Global Inc. has pulled back its support for a major U.S. crypto market structure bill, with CEO Brian Armstrong stating that 'no bill is better than a bad bill', yet HSBC analysts believe the legislation still has potential.
- Need for Legislative Clarity: HSBC argues that legislative clarity is essential to unlock significant institutional adoption from hedge funds and corporations, emphasizing that the bill aims to clearly delineate the roles of the SEC and the Commodity Futures Trading Commission (CFTC).
- Political Window Warning: Bitwise CIO Matt Hougan warns that the current pro-crypto environment represents a 'political window' that will not remain open indefinitely, indicating that the lack of a codified market structure leaves the industry vulnerable to shifts in political sentiment.
- Momentum for Future Action: Despite Coinbase's withdrawal raising concerns, strong support from Fairshake PAC and leadership from Ripple continues, with analysts expecting incremental wins through the Agriculture Committee's bill that expands CFTC oversight.
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Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for COIN is 361.63 USD with a low forecast of 230.00 USD and a high forecast of 440.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 146.120
Low
230.00
Averages
361.63
High
440.00
Current: 146.120
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the cryptoeconomy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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