Coinbase Rejects Senate Banking Draft Proposal

Coinbase Global CEO Brian Armstrong said on X on January 15, 2026, that the company no longer supports the Senate Banking draft, citing bans on tokenized stocks, DeFi restrictions and weakened CFTC authority. Piper Sandler cut its price objective for Coinbase to $270 from $350 on January 14 ahead of earnings, and the stock was down 8.28% year-to-date as of January 23, 2026.