New York, January 15, 2026, 11:55 EST — Regular session
- HOOD shares dropped roughly 3% after U.S. lawmakers put the crypto rules debate on hold
- Coinbase slides and bitcoin slips, despite gains in the broader U.S. market
- Traders are now focused on Washington’s calendar and Robinhood’s earnings report on Feb. 10
Robinhood Markets shares dropped 3.5% to $115.50 in late-morning trading Thursday, hitting an intraday low of $115.30 earlier in the session.
Pressure mounted after the U.S. Senate Banking Committee delayed a scheduled debate on draft legislation aimed at overhauling crypto regulations. Coinbase CEO Brian Armstrong criticized the bill’s current draft, saying the exchange can’t back it and added, “We’d rather have no bill than a bad bill.” (Reuters)
Unveiled late Monday, the draft aims to clarify when crypto tokens qualify as securities, commodities, or fall into other categories. It would also boost the Commodity Futures Trading Commission’s power over spot crypto markets—those for immediate delivery. The proposal bans crypto firms from paying interest just for holding dollar-pegged stablecoins but does allow some rewards linked to customer activity, Reuters reported. Summer Mersinger, CEO of the Blockchain Association, slammed the banking sector’s push as a “relentless pressure campaign by the Big Banks.” (Reuters)
Bitcoin slipped roughly 0.9% during the session, with Coinbase shares dropping close to 4%. The S&P 500 climbed around 0.7%, as brokerage rivals Interactive Brokers surged about 5.6% and Charles Schwab rose by approximately 1.4%.
Robinhood plans to release its fourth-quarter and full-year 2025 earnings on Feb. 10 after markets close. The company also said CEO Vlad Tenev and incoming CFO Shiv Verma will hold a video call later that day. (GlobeNewswire)
For Robinhood investors, this bill fight hits beyond politics. Crypto trading remains a key driver for retail brokers, while lawmakers continue to clash over which regulator has authority and which products get the green light.
The danger is that a delay drags on indefinitely. This leaves the industry stuck in limbo and could drag down activity if customers hesitate while the rules remain unsettled.
A final bill that’s tougher than expected might push up costs or limit some offerings. But clearer regulations could attract more mainstream investment to the market.
Next on the docket: a fresh date for the Senate Banking Committee’s markup, plus Robinhood’s earnings report dropping after the bell on Feb. 10. Investors will be watching closely for signals on trading demand and how crypto fits into the picture.
