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Dramatic illustration of Coinbase withdrawing support for the Senate CLARITY Act, featuring the Capitol, shattered crypto symbols, and CEO Brian Armstrong's concerns.
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Coinbase withdraws support for Senate CLARITY Act

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Coinbase, the largest US crypto exchange, abruptly pulled its support for the Senate's version of the CLARITY Act, leading to the cancellation of a key markup session. The move, announced hours before the planned vote, has drawn sharp criticism from industry leaders and the White House, who view it as a setback for bipartisan crypto regulation. CEO Brian Armstrong cited concerns over provisions that could hinder innovation and favor traditional banks.

The UK's Advertising Standards Authority has banned advertisements from cryptocurrency exchange Coinbase for trivialising the risks of investing in crypto. The ads, which depicted the country in economic disrepair, suggested that cryptocurrency could address financial woes. Coinbase has expressed disagreement with the decision.

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Cathie Wood's ARK Invest has boosted its holdings in crypto-related companies as prices decline across the sector. On Friday, the firm purchased shares in Coinbase, Circle, and Bullish, signaling continued institutional interest. This move comes alongside announcements from major players like UBS and PwC affirming crypto's growing legitimacy.

Cryptocurrency exchange Coinbase Global Inc. is intensifying efforts to persuade California regulators to drop a lawsuit, allowing resumption of its paused rewards program. The company launched an advocacy drive in late December, urging users to challenge what it calls a 'ban' on staking. Staking enables users to earn cryptocurrency by supporting blockchain networks, though consumer advocates highlight the need for oversight due to associated risks.

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As detailed in Coinbase Institutional's recent 2026 crypto trends report, the total market capitalization remains stable at $3.06 trillion amid a transition to institutional-led growth in perpetual futures, prediction markets, and stablecoins.

Following reports of JPMorgan exploring crypto trading for institutional clients amid favorable OCC guidance, analysts predict it will legitimize digital assets and funnel liquidity to rivals like Coinbase and Bullish—though competition may squeeze fees.

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New details emerged in the Brooklyn case against 23-year-old Ronald Spektor, indicted for a $16 million cryptocurrency theft scam: Prosecutors say he gambled away $6 million of the funds, traveled the US to evade capture, and planned to flee abroad. His father is now under investigation, with court resuming January 6.

 

 

 

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