New York, Jan 29, 2026, 6:52 PM ET — After-hours
- Coinbase shares dropped nearly 5% in after-hours trading following a decline in bitcoin.
- The White House has scheduled a Feb. 2 summit with banks and crypto companies to discuss stablecoin rewards, as a Senate panel moved forward a market-structure bill.
- UK regulators have banned a Coinbase ad campaign, citing its minimization of crypto risks.
Coinbase Global (COIN.O) fell 4.8% to $199.18 in after-hours trading Thursday, dragged lower by the latest slump in cryptocurrencies hitting U.S.-listed crypto stocks.
This matters because Coinbase remains one of the clearest indicators of crypto trading activity. When prices shift, volumes and sentiment tend to follow, and the stock usually moves in step.
In Washington, the price moves are colliding with a policy battle investors see as the key hurdle for the next wave of crypto adoption in the U.S.
The White House plans to meet Monday with banking and crypto trade group leaders, aiming to resolve a stalemate over whether companies can offer interest or other incentives on dollar-pegged stablecoins—tokens meant to maintain a stable value. Meanwhile, the Senate Agriculture Committee pushed forward its digital-asset market-structure bill, which would place oversight of spot crypto markets—where tokens trade instantly—under the Commodity Futures Trading Commission. (Reuters)
Bitcoin dropped 5.1%, hitting roughly $84,570, with ether sliding 6.2% to near $2,821, according to market data. Strategy (MSTR.O) took a bigger hit, down 9.7%. Miners Marathon Digital (MARA.O) and Riot Platforms (RIOT.O) also declined, falling 4.8% and 3.3%, respectively.
“It’s a broad repricing of risk,” said Wenny Cai, chief operating officer at Synfutures, in a Barron’s interview. She highlighted how geopolitical tensions and tech earnings are squeezing speculative trades and rattling markets. (Barron’s)
Coinbase is expanding its product lineup. In the last two days, it launched prediction markets for U.S. users via a deal with Kalshi, allowing trading in yes-or-no “event contracts” based on real-world events. (CoinDesk)
The effort is facing renewed scrutiny. CFTC Chair Michael Selig announced the agency is drafting new federal regulations targeting prediction markets, where “event contracts” have sparked debates over derivatives oversight and gambling laws. (Axios)
Coinbase CEO Brian Armstrong cautioned lawmakers against rushing with incomplete regulations. According to Bloomberg, Armstrong called the Senate Banking Committee’s crypto bill “risky” to push forward while critical questions are still open. (Bloomberg)
Regulators are scrambling to plug holes as lawmakers debate. SEC Chair Paul Atkins told the Wall Street Journal that “in the long term, it’s better to have legislation,” but he also hinted the SEC and CFTC might act under current powers. (Wall Street Journal)
Coinbase hit a regulatory snag beyond the U.S. In the UK, the Advertising Standards Authority banned one of its campaigns, arguing it downplayed crypto risks and lacked proper warnings. Coinbase pushed back, saying it disagrees with the ruling. (The Guardian)
Robinhood (HOOD.O), a platform popular with retail investors and reliant on crypto trading, dropped roughly 2.0% in after-hours trading.
But the risks remain largely unchanged. Should bitcoin continue to slide, volumes could drop sharply. Plus, any regulations that limit stablecoin rewards or clamp down on prediction-market products might choke off emerging revenue streams before they gain traction.
Traders are eyeing bitcoin for signs of stability ahead of Friday’s session, while also looking out for any leaks or hints before the White House summit on Feb. 2. Coinbase plans to release its fourth-quarter and full-year 2025 earnings after the market close on Feb. 12. (Coinbase)
