Small Banks Sue to Block Bank Charters for Coinbase, Ripple, and Other Crypto Companies

Coinbase plans to relaunch Coinbase Pro by year-end, offering trading in spot, futures, perpetuals, options, and equities. The company completed its Deribit integration, creating Coinbase Global Exchange, which connects U.S. and global crypto derivatives into a single liquidity pool. U.S. institutional clients can trade Deribit options and perpetual futures through Coinbase Prime, with retail access expected later this year. Coinbase acquired Deribit for about $2.9 billion in August 2025.

Coinbase Global Inc. (COIN) Vice Chairman Ryan Van Grack stated the company's recent CFTC approval could speed up crypto product innovation and reduce reliance on third parties. He expects clearer custody rules to boost Bitcoin (BTC) adoption by institutions and investment advisers. Van Grack also highlighted tokenization as a significant upgrade to financial markets, with Coinbase already operating a tokenization hub in Abu Dhabi.

Coinbase has added U.S. stock options to its platform, allowing eligible customers to trade long call and put contracts. This move aligns with its 'Everything Exchange' strategy, aiming to consolidate equities, cryptocurrencies, and derivatives in one interface. The service operates through Coinbase Capital Markets, a FINRA and SIPC member, with clearing provided by Apex Clearing Corporation.

FinCEN withdrew proposed rules requiring banks and exchanges to report crypto mixing and self-custody wallet transactions. Coinbase (COIN) rose 3% to $188, while Bitcoin (BTC) fell 1% to $85,690. FinCEN cited privacy concerns and potential impacts on legitimate activities. Existing anti-money-laundering rules remain unchanged.

Coinbase's Ryan VanGrack discusses the impact of CFTC approval for its clearinghouse and SEC's proposed custody rules, which may facilitate Bitcoin ownership by investment advisors. He highlights the potential for institutional capital inflow due to clearer regulations and the role of tokenization in reducing intermediaries. VanGrack also notes the acceleration of traditional finance's push into Bitcoin and digital assets.

The CFTC proposed rules to regulate crypto leverage trading, creating a new registration category for exchanges. Chairman Michael Selig emphasized consumer protections. The 60-day comment period begins Monday. The proposal follows legislative setbacks and aims to integrate crypto into the agency's regulatory framework. Exchanges like Coinbase, Crypto.com, and Robinhood offer such trading.