New York, January 22, 2026, 19:26 ET — Trading continues after hours.
- Coinbase has formed an external advisory board to evaluate the potential threats quantum computing poses to blockchain security, Fortune reported.
- Senate Agriculture Committee Chair John Boozman circulated a revised draft of the crypto market-structure bill and scheduled a markup for Jan. 27, according to Lowenstein Sandler.
- Coinbase is set to release its fourth-quarter and full-year 2025 earnings on Feb. 12, after the market close.
Shares of Coinbase Global (COIN) dipped in after-hours trading Thursday, with investors torn between Capitol Hill developments and fluctuating crypto prices. The stock slipped roughly 1.7% to $223.14, following an intraday range of $223.03 to $230.74. Trading volume hit around 7.1 million shares.
Coinbase stands as one of the leading U.S. platforms for trading digital assets, with its earnings closely tied to the volatility that either attracts or deters users. New U.S. regulations on the table might transform how exchanges manage tokens, stablecoins, and staking, boosting some revenue sources while pressuring others.
Washington’s legislative calendar is heating up. Senate Agriculture Committee Chair John Boozman unveiled an updated draft bill granting the Commodity Futures Trading Commission (CFTC) fresh authority over “digital commodities.” The committee plans to mark up the bill—where members can amend and vote—on January 27. “It’s time we move this bill,” Boozman said. Senate Committee on Agriculture
The Senate Banking Committee hit a snag last week when Coinbase CEO Brian Armstrong said the company couldn’t back the bill “in its current form.” That forced the panel to push back a planned vote. The draft aimed to clamp down on some “stablecoin” rewards — those dollar-pegged tokens offering yield-like returns — and would have fragmented the sector. Sen. Tim Scott, the committee chairman, said lawmakers “are working in good faith” to make adjustments. Reuters
Coinbase is pushing beyond basic spot trading, focusing on broader services. It announced that institutions using Coinbase Prime can now transfer entire staked ether vaults—tokens locked to earn rewards and support the blockchain—between Prime clients in minutes, bypassing Ethereum’s lengthy exit queues. Galaxy is among the first market makers onboarded, and Coinbase’s Lewis Han highlighted that this setup lets clients avoid choosing between liquidity and rewards.
Bitcoin slipped 0.2% to around $89,523, while ether dropped roughly 1.4% to near $2,951. Shares of Robinhood Markets and Strategy, two U.S. stocks linked to crypto trading sentiment, fell about 0.4% and 0.1%, respectively, in late trading.
Coinbase raised concerns about long-term security risks. On Jan. 21, it announced the creation of an independent advisory board focused on quantum computing and blockchain. The company warned that powerful quantum computers could one day threaten the cryptography behind Bitcoin and Ethereum. This board plans to release position papers and guidance, Coinbase said.
The IPO window is drawing attention in the sector. Custody firm BitGo raised $212.8 million in an IPO priced above its range this week, Reuters reported, valuing the company at roughly $2.08 billion. This debut puts the spotlight back on listed crypto players. The report also mentioned lawmakers are pressing forward with market-structure plans, even as Coinbase warns some proposals could “choke” key parts of the business. Reuters
Policymakers are hearing plenty about stablecoins these days. At Davos, an IMF official flagged concerns that rising stablecoin use in certain countries might create “competitive pressure” on fragile fiscal and monetary frameworks. They also warned that dollar-backed stablecoins could siphon deposits away from banks in emerging markets. Reuters
But Coinbase’s short-term outlook remains uncertain. A fresh slide in token prices could quickly sap trading volumes, and a tougher-than-expected regulatory bill might limit what exchanges can provide — and restrict their revenue streams.
Coinbase is set to release its quarterly results next, reporting fourth-quarter and full-year 2025 numbers after the market closes on February 12. The company will also hold a webcast at 5:30 p.m. ET. Investors will closely watch for changes in transaction volumes and listen for any updates from management on the likelihood of U.S. legislation moving forward in 2026.
