Coinbase CEO: Senate Test Could Define Two Paths for US Crypto Rules
Coinbase CEO: Senate Test Could Define Two Paths for US Crypto Rules
The regulatory outcome carries direct stakes for Coinbase, where about half of revenue still comes from trading, a business Armstrong said has been down for the past year. Second-quarter revenue fell to $1.2 billion from $1.5 billion a year earlier, and the company posted a $359.5 million net loss versus a $1.43 billion profit in the same period last year, with shares down nearly 23% year to date.
Coinbase has responded by expanding into stocks, commodities, and foreign exchange trading. This is complemented by non-trading revenue from stablecoins and institutional custody, alongside the expansion of hubs in the United Arab Emirates and Singapore.
Armstrong's tokenized-equity thesis echoes broader momentum in regulated tokenized products. This is illustrated elsewhere by Aviva's tokenized fund issuance on the XRP Ledger, though that example does not confirm Armstrong's projected U.S. outcome.
This article has been published in coinspeaker.com via Yahoo News
Coinbase CEO: Senate Test Could Define Two Paths for US Crypto Rules
Coinbase CEO Brian Armstrong said U.S. crypto markets will get greater regulatory clarity regardless of how the Senate’s scheduled Sept. 15 vote on the CLARITY Act turns out. The bill needs 60 votes to advance, and ethics provisions remain among the issues still under negotiation as the vote...
finance.yahoo.com
