Overview

• Coinbase’s shares surged above $380 on June 26, eclipsing its prior record close of $357.39 set in November 2021.
• The U.S. Senate passed the GENIUS Act to establish a regulatory framework for stablecoin issuance and sent the bill to the House for final consideration.
• Under its agreement with Circle, Coinbase earns roughly half of the interest generated by reserves backing the USDC stablecoin.
• Benchmark and Bernstein raised their price targets on Coinbase stock, citing regulatory clarity and accelerating stablecoin adoption.
• Coinbase launched Coinbase Payments on its Base layer-2 network, enabling merchants to accept USDC payments around the clock without specialized blockchain expertise.