Latest news with #Coinbase
Globe and Mail
2 hours ago
- Business
- Globe and Mail
Circle Stock (CRCL) Soars after Senate Passes Stablecoin Bill
Shares of Circle (CRCL) are surging again on Friday after the U.S. Senate approved the GENIUS Act, which is a bill that is designed to regulate stablecoins. The stock is up 20% at the time of writing, following a 33% jump on Wednesday after the bill passed (U.S. markets were closed Thursday for the Juneteenth holiday). As a result, Circle's shares are up more than 60% for the week and have skyrocketed over 500% since going public on June 5. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Interestingly, Coinbase (COIN) also got a boost today. That's because Coinbase earns half the interest revenue from Circle's USDC stablecoin reserves, and all the interest on USDC held directly on its own platform. However, it is worth noting that the GENIUS Act still needs approval from the House of Representatives. Still, investors are hopeful. Indeed, stablecoins, which are digital tokens tied to the U.S. dollar, are attracting more attention from banks and tech companies as crypto regulations shift under the Trump administration. Big names like Amazon (AMZN), Walmart (WMT), Apple (AAPL), Uber (UBER), and Airbnb (ABNB) are reportedly exploring how to use or create their own stablecoins. The GENIUS Act aims to make payments faster, more transparent, and safer, while also increasing demand for U.S. dollars and government debt. It includes rules to protect consumers, set collateral standards, and provide clear oversight. As a result, Galaxy Digital's Alex Thorn says the bill could pave the way for traditional finance to start using public blockchains, which would increase the adoption of bitcoin, crypto, and decentralized finance. Is CRCL Stock a Buy? Using TipRanks' technical analysis tool, the indicators seem to point to a positive outlook for CRCL stock, thanks to two Bullish indicators and no Neutral or Bearish indicators. However, it is worth noting that since the company recently went public, there is not enough data to fully analyze its technical patterns.
Crypto Insight
12 hours ago
- Business
- Crypto Insight
Coinbase secures MiCA license, names Luxembourg as EU headquarters
Coinbase has secured a Markets in Crypto-Assets (MiCA) license from the Luxembourg Commission de Surveillance du Secteur Financier, which enables the exchange to offer crypto products across European Union countries. The move signals mounting competition in the European crypto market, where other exchanges have also been pursuing registrations. OKX and secured MiCA licenses in January, followed by Bybit in May. Gemini is also on track to obtain a license in the region, according to a Reuters report. Coinbase has named Luxembourg as its new European headquarters, citing the country's reputation as a progressive financial center in Western Europe. Bordered by Belgium, France and Germany, the country has been gradually advancing crypto regulations since 2019. 'Luxembourg is actively pursuing a whole-of-government approach to blockchain and DLT, and has passed four blockchain-related policies through the national legislature,' Coinbase said. At the time of this writing, Coinbase shares are up 4.95% on the day of the announcement, rising to $309.92 from a close of $295.29 on Thursday, according to Google Finance. In May, Coinbase announced a deal to acquire options trading platform Derebit for $2.9 billion. On May 19, the exchange became the first crypto company to join the S&P 500, an index of the 500 largest publicly traded companies in the United States. Crypto investing in Europe is rising MiCA is a regulatory framework that seeks to standardize rules for the crypto industry within the European Union, protect crypto investors and enhance financial stability. It was adopted in May 2023 and came into full enforcement in December 2024. Crypto investing in Europe is rising, with an estimated 10%-20% of European investors having some exposure to the nascent industry. Utility is emerging as a key driver of crypto adoption rather than just capital appreciation, with 70% of crypto payments going to retail, food and beverages. Crypto usage on decentralized finance applications is also rising in Eastern Europe. Source:
Yahoo
18 hours ago
- Business
- Yahoo
S&P 500-listed CEO Brian Armstrong warns of looming U.S. debt crisis
S&P 500-listed CEO Brian Armstrong warns of looming U.S. debt crisis originally appeared on TheStreet. Brian Armstrong, CEO of Coinbase, issued a dire warning about the state of the global economy this week, pointing to soaring debt, inflation, and declining economic freedom as the key drivers of rapidly increasing crypto adoption. In a post on X, Armstrong stated, "The world needs crypto, now more than ever," while posting a chart that U.S. federal debt surpassed $34 trillion. Armstrong characterized crypto as a means to regain financial sovereignty, giving individuals the ability to avoid centralized institutions and be able to access fast and cheap global payments. "Economic freedom means it's your money," he shared while referencing the growing demand for Bitcoin and stablecoins as an inflation hedge against out-of-control fiscal policy. His explanation of Coinbase's phased strategy is in three phases. It started as a crypto investment platform, expanded into financial services, and is evolving into an application layer for the next generation of internet tools. He continued explaining the growth of Bitcoin's all-time high and stablecoins, which are adopting more quickly as proof that crypto is "eating the financial services industry." Coinbase made four announcements at its 2025 State of Crypto Summit: Coinbase Business for startups; payment APIs for easy USDC settlements (with Shopify as a proof point), options trading via Deribit integration, and a new Coinbase card with an American Express partnership offering up to 4% Bitcoin rewards. "People are feeling a lack of trust in their money and deficit spending," Armstrong said. "Crypto is the solution—and Coinbase is leading the charge." He added that this movement is not just about price, but about "building a financial system from the ground up." S&P 500-listed CEO Brian Armstrong warns of looming U.S. debt crisis first appeared on TheStreet on Jun 20, 2025 This story was originally reported by TheStreet on Jun 20, 2025, where it first appeared.
Yahoo
21 hours ago
- Business
- Yahoo
Circle Skyrockets 53% After Senate Passes Landmark Stablecoin Bill
Shares of Circle (CRCL, Financials) surged 53% this week after the U.S. Senate passed the GENIUS Act; the first major federal legislation to regulate stablecoins. The bill outlines full reserve requirements; monthly audits; and anti-money laundering rulesproviding long-awaited clarity to the $150 billion stablecoin market. The rally pushed Circle stock from $148 to $227; just weeks after its NYSE debut. Backed by rising momentum, Coinbase (COIN, Financials) also gained 20% since Wednesday. Circle CEO Jeremy Allaire called the bill's passage history in the making; praising it as a leap forward for U.S. competitiveness in digital finance. The GENIUS Act, now headed to the House, has been championed by President Donald Trumpwho's pushed crypto-friendly policies, ended enforcement actions, and even launched a national Bitcoin reserve. With Washington warming up to crypto, major tech firms like Meta, Google, Airbnb, and X are said to be exploring stablecoin integrationfueling speculation that mainstream adoption may not be far off. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
21 hours ago
- Business
- Yahoo
Binance's CZ issues blunt wake-up call to not one — but two — planets
Binance's CZ issues blunt wake-up call to not one — but two — planets originally appeared on TheStreet. In the largest data breach ever, more than 16 billion login passwords recently got exposed. Reports indicate that cybercriminals likely used infostealing malware to steal usernames and passwords from social media, corporate platforms, VPNs, developer portals, etc. Alphabet's Google (Nasdaq: GOOG), Apple (Nasdaq: AAPL), Meta Platforms' Facebook (Nasdaq: META), GitHub, or Telegram — the cyberattack didn't spare either of these leading platforms. Binance co-founder and CEO Changpeng Zhao "CZ" sounded the alarm over the devastating data leak. "That's 2 passwords per person for the planet," CZ underlined how the number of compromised passwords is twice the earth's population. CZ advised everyone to preferably use a different email address and a different password for each site. He added: "And use a hardware 2FA device!" Binance is the world's largest crypto exchange by trading volume, and the industry is a frequent target of such data leaks. Join the conversation with Scott Melker on On May 11, Coinbase (Nasdaq: COIN), the largest crypto exchange in the U.S., revealed a data leak that affected 69,461 individuals. The leak exposed the names, addresses, and contact details of the affected users. The incident took place on Dec. 26, 2024, and the exchange got to know of it much later in May 2025. Data leaks are, however, somehow less worrisome than cyber heists on crypto exchanges because nothing is as devastating as losing funds. The on-chain analytics platform Chainalysis published a report on Jan. 15 as per which illicit addresses received $40.9 billion in stolen crypto assets in 2024. It estimated that the figure could even be as high as $51.3 billion. 2022 was the worst year for crypto users, as they lost more than $54 billion to bad actors, as per the report. Join the conversation with Scott Melker on For crypto users, safeguarding data and assets should be a strict and consistent habit. Users should religiously exercise all measures necessary to secure their data and funds. Several crypto users have found refuge in the security offered by industry-leading Ledger wallets as the cases of data leaks are on the rise. Binance's CZ issues blunt wake-up call to not one — but two — planets first appeared on TheStreet on Jun 20, 2025 This story was originally reported by TheStreet on Jun 20, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
