New York, January 23, 2026, 13:28 EST — Regular session
- Coinbase shares dipped around 1.5% in afternoon trading while bitcoin climbed about 1.3%
- Coinbase launches accelerated staked-ether transfers on Prime, naming Galaxy as the first market maker
- The Clarity Act debate on stablecoin yields continues to sway U.S. crypto firms
Shares of Coinbase Global dipped 1.5% to $219.70 during Friday afternoon trading, despite bitcoin climbing 1.3% to around $90,720 and ether edging up 1.1% to about $2,989.
The stock moves on two fronts: crypto prices and Washington’s regulations. For Coinbase, that translates to bursts of retail trading when the market heats up, or an abrupt freeze when policies hit the news.
A Senate vote delay on the Clarity Act has shifted focus to stablecoin “yields” — the rewards given to holders of stablecoins, crypto tokens usually tied to the U.S. dollar. Ron Hammond, a veteran blockchain lobbyist, told Fortune the bill still carries “momentum,” despite ongoing disputes over those yields. 1
Coinbase is ramping up product updates for institutional clients. In a blog post this week, the company announced that institutions staking ether on Coinbase Prime can now transfer a whole staked-ETH vault to another user on the platform, settling “in minutes” and bypassing the network’s exit queue — which Coinbase says lasts over 10 days. Galaxy has stepped in as an initial market maker. Galaxy’s Harry Austin described the vault transfers as a way to “remove a key operational barrier for institutions,” while Coinbase’s Lewis Han emphasized clients “don’t have to choose between rewards and liquidity.” 2
Coinbase announced the creation of an independent advisory board dedicated to addressing quantum computing risks to blockchains like Bitcoin and Ethereum. The board plans to release position papers and recommendations. Coinbase Head of Cryptography Yehuda Lindell described quantum computing as “both a technological opportunity and a security challenge.” 3
Coinbase Markets announced that perpetual futures for Sentient (SENT) will launch on Jan. 22. The market is set to open at or after 14:00 UTC, depending on liquidity. These perpetual futures are derivatives that mirror an asset’s price but don’t have a set expiration date. 4
Coinbase slid, trailing behind other crypto-related stocks on Friday. Robinhood climbed roughly 2.6%, Strategy advanced 4.1%, and Marathon Digital jumped 4.8%.
Coinbase’s drop wiped roughly $3.44 off Thursday’s closing price, despite bitcoin’s gains.
The flip side is just as risky. Should crypto prices dip and trading volumes drop, Coinbase could see its momentum stall fast. Plus, a drawn-out policy battle over stablecoin rewards might squeeze a key revenue stream that investors have pegged as a major growth driver.
Investors will next focus on any renewed Senate schedule for the Clarity Act. Coinbase’s quarterly earnings report arrives on Feb. 12 after markets close, with expectations for fresh insights on trading volumes and subscription services revenue. 5
