New York, January 14, 2026, 11:42 (EST) — Regular session
- Coinbase shares climb roughly 3.8% following a bitcoin surge of over 4%
- Coinbase Prime reports delays in sends and receives on the Sui network; buying, selling, and fiat transfers remain unaffected
- The U.S. Senate’s crypto market-structure bill is set for a committee debate this Thursday
Shares of Coinbase Global (COIN.O) jumped 3.8% to $262.17 on Wednesday, boosted by bitcoin’s 4.2% rise to around $97,467 and ether’s 6.3% gain. The company warned that some users might experience delays sending or receiving funds on the Sui network because of a network outage, but reassured that “Your funds are safe.” Meanwhile, crypto-related stock Strategy (MSTR.O) climbed 7.4%. (Coinbase Prime Status)
Coinbase remains the go-to quick barometer for crypto sentiment. When bitcoin surges, traders tend to snap up the exchange, wagering that trading volumes and fee income will rise—even if nothing has shifted in the company’s core fundamentals.
Washington is back in the mix. A market-structure bill is gaining momentum, and investors are watching closely to see if lawmakers can finally deliver lasting rules after years of fits and starts, plus enforcement battles.
Kara Calvert, Coinbase’s vice president of U.S. policy, told Bloomberg TV there’s “a lot of good” in the newest draft, highlighting stablecoin rewards as a key issue. She added the company is still digesting the 274-page document ahead of Thursday’s Senate Banking Committee markup. (Bloomberg)
Late Monday, senators introduced draft legislation aimed at clarifying when crypto tokens qualify as securities or commodities, while expanding the Commodity Futures Trading Commission’s authority over spot crypto markets—where tokens change hands for immediate settlement. The bill also targets interest-like payouts on dollar-pegged stablecoins, a move banks have fiercely opposed, launching a counter-campaign. Blockchain Association CEO Summer Mersinger called the banks’ push a “relentless pressure campaign,” whereas Digital Chamber CEO Cody Carbone said it’s “encouraging” to see progress. (Reuters)
Regulation is ramping up beyond the U.S. as well. France’s markets watchdog flagged that roughly 30% of crypto firms working in the country without a MiCA licence haven’t yet informed the regulator whether they intend to apply or shut down before the June 30, 2026 deadline. Coinbase is among the companies that have already secured a MiCA licence. (Reuters)
Stablecoins are crypto tokens meant to maintain a steady value, usually pegged to the U.S. dollar. “Rewards” refer to incentives given to users—often similar to interest—and banks warn these payments might drain deposits from the traditional banking system.
Coinbase’s caution about the Sui network highlights the underlying risks in crypto infrastructure. Transfers can stall even as trading continues, leaving users stuck when trying to move tokens in or out—especially when markets get choppy.
That trade, however, could go sideways. The Senate bill might get rewritten during markup or stall altogether, pushing the industry to depend on regulator guidance—which shifts as politics evolve. On top of that, a sudden bitcoin sell-off often slows activity fast.
Traders are now eyeing Thursday’s Senate Banking Committee session for potential amendments, especially those targeting stablecoin rewards. Meanwhile, updates from Coinbase on when normal sends and receives will restart on the Sui network are also being closely monitored.
