New York, Feb 3, 2026, 12:31 PM EST — Regular session.
Key points:
- Coinbase shares fell nearly 5% as bitcoin declined around 4%, keeping crypto-linked stocks under pressure.
- White House negotiations to advance a U.S. crypto market-structure bill wrapped up without reaching an agreement.
- Investors are eyeing Coinbase’s Feb. 12 earnings report for clues on trading volumes and stablecoin income.
Shares of Coinbase Global Inc dropped Tuesday, adding to recent losses as bitcoin slid and crypto regulatory talks in Washington hit a dead end. Coinbase stock fell 4.8%, trading at $178.78 by midday.
This matters since Coinbase’s revenue usually reflects trading volumes and market swings, both of which have dipped as crypto prices retreat. Meanwhile, the regulatory push that the industry has counted on for a boost remains stalled, leaving a crucial catalyst waiting in the wings.
Bitcoin dropped roughly 4% during the session, as investors kept slashing valuations on other crypto-linked stocks.
The White House hosted talks on Monday aiming to settle a long-running clash between banks and crypto companies over new legislation, but no deal was reached, Reuters reported. The core issue: whether firms can offer interest or rewards on stablecoins, the dollar-linked tokens crucial to crypto trading. (Reuters)
Coinbase has openly opposed draft language that might restrict those rewards. “We’d rather have no bill than a bad bill,” CEO Brian Armstrong said last month, amid the bill’s increasingly rocky journey through Congress. (Reuters)
The wider crypto market hasn’t offered much support. Bitcoin holders have cashed out roughly $2.56 billion in positions over the past few days, data from CoinGlass referenced by Reuters shows, amid a selloff in risk assets. “What we’ve seen the last few months is probably people taking a step back,” said Adam McCarthy, senior research analyst at Kaiko. (Reuters)
On Monday, Coinbase revealed a product pivot linked to its expansion beyond spot trading. Liquifi will be renamed “Coinbase Token Manager” starting Feb. 28, targeting token issuers who handle cap tables, vesting, and compliance, the company said. (Coinbase)
Traders note the stock is acting like a high-beta stand-in for bitcoin. If crypto prices remain weak or volumes fail to pick up, earnings might reveal just how reliant Coinbase’s recent growth is on market churn.
Coinbase plans to release its fourth-quarter and full-year 2025 earnings on Feb. 12, after markets close, with a webcast scheduled later that day, the company announced. Investors will be focused on trading volume details, subscription and services performance, and any updates on the ongoing stablecoin-rewards dispute. (Coinbase)
Next for the stock: watch for any hint of renewed White House talks or Senate action on the Clarity Act, plus how bitcoin holds up ahead of Coinbase’s earnings on Feb. 12.
