NEW YORK, Jan 30, 2026, 19:15 EST — After-hours
- After the bell, Coinbase shares slipped roughly 2.2%.
- Bitcoin dropped to its lowest point in two months amid investor concerns over U.S. policy and tightening liquidity.
- Coinbase’s move into prediction markets is drawing attention again, alongside a busy Washington policy calendar heading into next week.
Shares of Coinbase Global (COIN.O) slipped roughly 2.2% to $194.74 in after-hours on Friday, having dropped as low as $190.98 earlier.
The late drop is significant since Coinbase frequently acts as a stand-in for crypto risk appetite — when crypto prices fall and sentiment sours, trading volumes can dry up quickly. This sets the stage for next week, as regulators and lawmakers ramp up discussions on new rules for digital assets and event-driven trading.
Bitcoin dropped to its lowest in two months, sliding 2.5% to $82,300 amid speculation that Kevin Warsh might replace Jerome Powell as Federal Reserve chair, raising fears of tighter liquidity. Damien Boey from Wilson Asset Management said the market seemed spooked by the prospect of “pulling the rug out from underneath that.” Ether dipped 2.9% to $2,735.48, while a sharp selloff in Microsoft fueled the broader risk-off mood. Reuters
Coinbase has also expanded into fresh territory. It launched prediction markets across the country in partnership with Kalshi, allowing users to bet on straightforward “yes/no” outcomes tied to real-world events. Brian Armstrong described prediction markets as “the ultimate form of truth seeking,” adding, “When there’s skin in the game, the output is far more reliable.” DeFi Rate
Regulators are stepping up. Commodity Futures Trading Commission Chair Michael S. Selig said Thursday, “It is time for clear rules.” He referred to prediction markets—“event contracts”—as products that have lingered in the agency’s purview for years. Selig announced he has ordered staff to pull a 2024 proposal that would have banned political and sports-related event contracts, signaling a shift toward new rulemaking. Commodity Futures Trading Commission
In Washington, the White House is set to meet with banking and crypto leaders Monday to try and break the deadlock on crypto legislation, Reuters reported. The talks will zero in on whether crypto firms should be allowed to pay interest or rewards on stablecoins—dollar-pegged tokens. Summer Mersinger, CEO of the Blockchain Association, said the group is “proud to participate in next week’s meeting.” Cody Carbone, CEO of The Digital Chamber, noted the White House is “pulling all sides to the negotiating table.” Reuters
Prediction markets have come under the microscope. This week, a coalition featuring Coinbase, Robinhood, and Kalshi took out a full-page ad in the Washington Post, pushing for a ban on insider trading in these markets. The move comes as offshore platforms like Polymarket face fresh scrutiny, according to Business Insider.
Investors are eyeing an earnings date as well. Coinbase plans to release its fourth-quarter and full-year 2025 results on Feb. 12, right after the market closes, followed by a webcast later that day.
But the situation works both ways. If bitcoin continues to fall or volatility fades, trading volumes — and Coinbase’s fee income — could take a hit just as earnings approach. Prediction markets offer growth potential, yet they remain caught in ongoing regulatory and legal battles, including scrutiny from state gaming authorities questioning whether some products cross into gambling territory.
Traders are now focused on whether crypto prices hold steady through the weekend and if Monday’s Washington discussions bring clarity on stablecoin rewards or broader market-structure regulations. Coinbase’s upcoming earnings report on Feb. 12 stands as the next major catalyst.
