NEW YORK, Jan 2, 2026, 10:52 ET — Regular session
- Coinbase shares rose in early trade as bitcoin rebounded.
- CEO Brian Armstrong posted 2026 priorities centered on an “everything exchange” and payments.
- Traders are watching next week’s U.S. jobs and inflation data for the next risk-on cue.
Coinbase Global shares rose about 3% on Friday morning as bitcoin rebounded and Chief Executive Brian Armstrong laid out a 2026 blueprint for expanding the exchange into more asset classes. The stock was up 3.3% at $233.59 by 10:45 a.m. ET, while bitcoin gained 1.7% to about $89,400.
Coinbase shares often act as a high-beta proxy for crypto prices because trading volumes and transaction fees tend to rise when markets are volatile. Traders are watching whether the first U.S. session of 2026 sets a firmer tone for digital assets after a soft finish to last year.
Bitcoin ended 2025 lower, on track for its first annual decline since 2022 as macro pressures weighed on crypto, Reuters reported on Dec. 31. That linkage between bitcoin and risk appetite has been tightening as more traditional investors trade the asset alongside equities. 1
Armstrong set out three priorities for 2026, starting with growing what he called the “everything exchange” across crypto, equities, prediction markets and commodities, as well as derivatives such as futures and options. “Grow the everything exchange globally,” Armstrong wrote. 2
An “everything exchange” is shorthand for offering a wider range of markets from one platform. Prediction markets are contracts that pay out based on real-world outcomes, such as an election result or an economic release.
Armstrong’s other priorities were to scale stablecoins and payments, and to bring more activity on-chain through Coinbase’s developer offerings and Base network. Stablecoins are crypto tokens designed to hold a steady value, typically pegged to the U.S. dollar.
Crypto-linked stocks moved with broader risk appetite on Friday. At 10:13 a.m. ET, the S&P 500 was up 0.38% and the Nasdaq Composite was up 0.75%, Reuters reported. 3
Riot Platforms and Marathon Digital, two bitcoin miners, were also higher in morning trading, while Robinhood Markets was little changed. The mixed moves underscored that listed crypto plays can respond differently to the same bitcoin swing, depending on their exposure to mining margins versus trading activity.
Regulation is another near-term focus for U.S. platforms. Coinbase said new IRS rules require brokers to report gross proceeds on a new Form 1099-DA starting in 2025 and to add cost basis reporting beginning Jan. 1, 2026. 4
The macro calendar is also looming over risk assets. Investors are looking ahead to the U.S. jobs report due Jan. 9 and the consumer price index on Jan. 13, Reuters wrote, as markets assess how quickly the Federal Reserve may cut interest rates this year. 5
For Coinbase, the next question is whether bitcoin’s early-year rebound translates into higher trading volumes and stronger fee income, which can move sharply with crypto volatility. Progress on new products and payments would matter most if crypto prices drift and retail activity cools.
In the near term, COIN tends to track bitcoin and broader risk sentiment more closely than most financial stocks. Investors will be watching crypto price volatility, U.S. policy signals and the pace of regulatory changes for clues on activity levels heading into the first-quarter earnings season.
