coinbase

While Wall Street remains "skeptical" (as Brian Armstrong noted today), the giants are still accumulating. MicroStrategy just disclosed the purchase of another 2,486 BTC (approx. $168M) at an average price of $67,710.
​Why this matters:
​Total MSTR holdings: 717,131 BTC.
​Coinbase CEO Brian Armstrong slammed "TradFi laggards" today, arguing they are resisting crypto because it disrupts their core business models.
​The "Clarity Act" progress in Washington is stalling, which is keeping some big players on the sidelines—but clearly not Michael Saylor.
​Institutional conviction remains high even if the price action is choppy.
​#MicroStrategy #coinbase #InstitutionalCrypto #CryptoNews

Odds of the US CLARITY Act passing in 2026 briefly spiked to 90% on Polymarket amid optimistic comments from US Senator Bernie Moreno.
The US CLARITY Act, a highly anticipated bill aimed at providing greater clarity for the US crypto industry, could make it through Congress in just over a month, according to crypto-friendly US Senator Bernie Moreno.
“Hopefully by April,” Moreno told CNBC during an interview at US President Donald Trump’s Mar-a-Lago property in Florida on Wednesday.
#coinbase CEO Brian Armstrong joined Moreno for the interview, explaining that they were with representatives from the crypto, banking and US Congress at the World Liberty Financial (WLF) crypto forum to reach a solution on market structure.
“A path forward” is in sight, says Moreno
“One of the big issues that did come up in the past was this idea of stablecoins on rewards,” Armstrong said. The banking industry previously raised concerns that offering stablecoin yields could undermine traditional banking and shift deposits and interest away from banks.
While Armstrong had issues with the draft bill and withdrew his support for the CLARITY Act in January, he said there is “now a path forward, where we can get a win-win-win outcome here.”
“A win for the crypto industry, a win for the banks, and a win for the American consumer to get President Trump’s crypto agenda through to the finish line, so we can make America the crypto capital of the world,” Armstrong said. 
Armstrong said the crypto exchange previously couldn’t support the bill because it includes provisions that ban interest-bearing stablecoins and position the US Securities and Exchange Commission as the primary regulator of the crypto industry. The White House was reportedly disappointed by Coinbase’s decision to withdraw its support, describing the move as a “unilateral” action that blindsided administration officials.
Moreno admitted that the delay stems from “getting hung up” on the #stablecoin rewards, which he said “shouldn’t be part of this equation.”
Crypto prediction platform Polymarket’s odds of the US CLARITY Act passing in 2026 briefly surged to 90% on Wednesday before falling to 72% at the time of publication.
Moreno shuts down idea of a Democrat-led midterm election
Meanwhile, Moreno dismissed the idea that a Democratic takeover of Congress could threaten the bill when asked. “The House isn’t going to go Democrat, and neither is the Senate,” Moreno said.

“The American people are sick and tired of open borders; that is why we got elected. They were sick and tired of high inflation, and they were sick and tired of an out-of-control government,” he added. 
On Dec. 19, White House crypto and AI czar David Sacks voiced strong confidence that the bill would pass early this year.
“We are closer than ever to passing the landmark crypto market structure legislation that President Trump has called for. We look forward to finishing the job in January,” Sacks said at the time.
#bullishleo

Binance grew from a fast-moving startup into the world’s largest crypto exchange by combining scale, product breadth, and aggressive go-to-market moves. Here’s a focused breakdown with recent numbers that show how Binance’s structure compares to competitors.

1) Unmatched scale and liquidity
Binance reports a global user base of about 300 million registered accounts (Dec 2025), which fuels enormous order flow and deep order books. That scale shows in monthly volumes: Binance led spot and derivatives activity in January 2026, with spot volumes in the hundreds of billions and derivatives dominating industry volumes. Deep liquidity means tighter spreads and lower slippage for traders, an advantage smaller exchanges struggle to match.

2) Product breadth = more revenue levers
Binance runs a full stack: spot, margin, high-volume futures, token launches (Launchpad), staking/earn, NFTs, payments, custody and institutional services. That lets Binance capture fees across many flows (spot commissions, futures funding/liq. fees, listing/launch allocations, spread from staking/yield). Bypassing a single revenue line makes the business more resilient when one market segment cools. (See platform product lists on exchange pages and announcements.)

3) Native token and ecosystem effects
Binance’s native token, BNB, is used for fee discounts, protocol incentives and on-chain utilities. BNB’s price and liquidity (BNB near the $600 range in mid-Feb-2026) amplify network effects: token holders get lower fees and projects often integrate BNB utilities, which increases internal demand and ties user economics to the platform.

4) User base vs. public competitors
Compare scale: Binance’s hundreds of millions of accounts dwarf the active user base of many public exchanges. For example, Coinbase reports MTUs (monthly transacting users) in the single-digit millions range (recently ~9.2M reported), a very different operating footprint, Coinbase is strong in U.S. retail and compliance, but it doesn’t match Binance’s global retail volume. That gap explains why liquidity and product depth look different across platforms.

5) Speed of innovation and listing reach
Binance frequently lists new tokens and launches product features rapidly; that attracts speculators, projects, and market-makers who want early access. The platform’s ability to deploy new pairs, futures, and token sales quickly creates momentum other exchanges often can’t match, but it also draws regulatory attention in some jurisdictions.

6) Market share dynamics & risks
Despite its size, Binance’s market share has moved over time: independent data showed Binance’s percentage of global spot trading fell to about ~25% in December 2025 (the lowest since early 2021), illustrating how competitors and regulatory pressures can reshape market share. Big size brings influence, and regulatory scrutiny.
7) Regulatory footprint and reputational considerations
Binance’s global reach has required many local structures and regulatory responses; that has helped scale but also created legal and transparency headlines that differ from exchanges focused on single jurisdictions. Independent reporting has highlighted both compliance improvements and ongoing concerns, which factor into institutional trust and regional business access.
Quick comparison snapshot
* Liquidity / daily volume: Binance — market-leading (hundreds of billions monthly).
* Registered users: Binance ~300M vs. Coinbase MTUs ~9M (active transacting users).
* Native token: BNB (wide internal use; strong market cap and liquidity)
Bottom line
Binance is different because it’s not just an exchange UI; it’s a broad financial and token ecosystem powered by scale, network effects (BNB), and a product-heavy playbook. That creates advantages (liquidity, low fees, many revenue lines) and trade-offs (regulatory complexity, reputational exposure). For traders and projects, the choice between Binance and other exchanges often comes down to whether they prioritize liquidity and product breadth or jurisdictional compliance and transparency.

#Binance #coinbase #cryptoexchanger

On the US side, Coinbase leadership — including CEO Brian Armstrong — signaled that many retail participants continued accumulating rather than panic selling. This so-called “diamond hands” behavior suggests conviction buying during fear. However, price formation doesn’t depend on sentiment alone — it depends on marginal flows. Data tracked by CryptoQuant showed Coinbase premium readings stayed negative for much of the drawdown, implying US-linked spot demand wasn’t strong enough to dominate global selling pressure. Only recently has that spread begun stabilizing, hinting that marginal demand may be rotating back.
Meanwhile, Binance order flow told a different story. Exchange inflows spiked, largely from short-term holders and mid-sized wallets rather than long-term whales. This points to defensive positioning — traders de-risking into volatility — not structural distribution. Because Binance remains a major global liquidity center, aggressive selling there had outsized influence on price discovery, effectively acting as a pressure valve for global deleveraging.
The result is a market where price is determined at the margin, not by who believes most strongly. Even if one cohort accumulates, concentrated selling in a deeper liquidity venue can temporarily overpower that demand. Institutional flow trends tracked by CoinShares add another layer: multi-week outflows from digital asset products suggest risk appetite remains selective.
Looking ahead, four signals matter most: whether Coinbase premium turns sustainably positive, whether Binance inflows cool, whether institutional flows stabilize, and whether derivatives hedging pressure declines. Together, these factors determine whether Bitcoin transitions from liquidation repair to spot-led recovery — or remains trapped in volatile consolidation.
Three forward scenarios stand out. A bullish regime shift would require sustained US spot demand and fading exchange sell pressure. A base case favors range volatility as leverage rebuilds cautiously. A bearish extension would see continued premium weakness and defensive positioning, increasing the odds of another support test.
This is only my personal market view — not financial advice. What do you think: is spot demand ready to lead, or does volatility continue? Share your perspective below.
Follow for more crypto market structure breakdowns and flow-driven analysis.
#BTC #CryptoMarkets #coinbase