$COIN

The SEC approved a temporary framework for trading tokenized US equities, potentially benefiting Coinbase (COIN). Coinbase already offers tokenized stocks internationally and aims to expand this to the US. Baird reiterated a Neutral rating on COIN with a $130 price target, citing the regulatory change. Coinbase must meet SEC conditions and demonstrate domestic demand to generate revenue from this opportunity.

COIN stock fell 2.06% to $195.11 on Sept. 25. Aave V4 now accepts seven Coinbase tokenized U.S. stocks as collateral for USDC loans. Coinbase's tokenized stocks on Base surpassed $1 billion in trading volume since August. CEO Brian Armstrong discussed AI agents using crypto for payments.

Crypto-linked stocks ABTC, CRCL, COIN, and MSTR fell as Bitcoin traded below $84,000. ABTC dropped 6.09% to $9.02, CRCL declined 4.69% to $88.64, COIN fell 2.01% to $195.20, and MSTR decreased 1.60% to $159.03. Bitcoin's market cap was about $1.69 trillion with a 24-hour trading volume of roughly $37.17 billion.

Coinbase's UK subsidiary, CB Payments Ltd., reported €270m in 2025 revenue, doubling 2024's €132m, driven by transaction fees. Profits fell to €160k due to increased expenses, including a €69m FX loss. Average pay decreased 16% despite a headcount increase. Coinbase plans to cut 14% of its workforce in 2026, affecting around 30 people.

Coinbase's new fixed-rate Bitcoin-backed USDC loans, offered via Morpho Midnight, have a set repayment date. Unpaid loans post-maturity risk liquidation even if collateral is healthy. Coinbase sends reminders before deadlines. Loans are available to verified US customers (excluding NY) and limited UK access. Bitcoin is the collateral for this launch.

UK Finance expelled Coinbase from its membership, citing criteria mismatches. Coinbase, which has lobbied extensively in the UK, retains regulatory approvals and can appeal. The move highlights tensions between traditional finance and crypto sectors. Coinbase's UK subsidiary was previously fined by the FCA for AML breaches.

Coinbase (COIN) launched fixed-rate Bitcoin-backed loans using Morpho protocol for institutional borrowers, aiming for predictable financing terms. The company also introduced post-quantum security for Bitcoin custody. These moves align with Coinbase's broader crypto infrastructure strategy, targeting institutional clients seeking secure and predictable crypto services.

Anthony Scaramucci defended Coinbase CEO Brian Armstrong after the CLARITY Act, a crypto regulatory bill, stalled in the Senate. Scaramucci praised Armstrong's efforts, while Armstrong criticized The Wall Street Journal for blaming him and Coinbase for the bill's failure. The bill aims to establish federal oversight of crypto markets between the SEC and CFTC.

SEC Commissioner Mark Uyeda stated the agency dropped crypto cases in early 2025 to avoid credibility issues in court, as it planned a policy shift. Cases against Kraken, Ripple Labs, and Coinbase were dismissed, with critics suggesting political motivations. The SEC now has two commissioners, with no nominations for replacements announced.

Coinbase Global insider sold shares worth $1,402,132, according to a recent SEC filing. The company's stock is currently trading at $198.13, down 1.46%.