Coinbase Market Update: Bitcoin and MicroStrategy Face Significant Declines Amid Economic Uncertainty

MicroStrategy (MSTR) shares experienced a sharp 5% drop as Bitcoin approached a six-month low of $100,000, highlighting a broader downturn in the cryptocurrency market. Under the leadership of Michael Saylor, the company has seen its stock decline by over 12% since last week, closely tracking Bitcoin's 11.8% weekly decrease. Ethereum also faced substantial losses, falling below $3,410 to reach a three-month low. This market selloff aligns with cautious comments from Federal Reserve Chair Jerome Powell regarding economic growth, adding to investor concerns. The current market conditions reflect heightened volatility and uncertainty, with major cryptocurrencies and related equities under significant pressure. As of November 7, 2025, the crypto market remains highly reactive to macroeconomic signals, with traders closely monitoring Federal Reserve policies and broader economic indicators for future direction.

MicroStrategy Stock and Bitcoin Tumble Amid Market Downturn

MicroStrategy (MSTR) shares plunged 5% as Bitcoin neared a six-month low at $100,000, reflecting broader crypto market weakness. The company, led by Michael Saylor, has seen its stock drop over 12% since last week, mirroring Bitcoin's 11.8% weekly decline. Ethereum also suffered, falling below $3,410 to a three-month low.

The selloff coincides with cautious remarks from Federal Reserve Chair Jerome Powell about economic growth and inflation. Institutional crypto players like Coinbase (COIN) and Galaxy Digital (GLXY) mirrored the downturn. Bitcoin's 20% retreat from its $126,000 peak has analysts watching the $100,000 support level closely—a threshold it's maintained for 180 trading days.

Coinbase Clashes with U.S. Banks Over Crypto Trust Charter Bid

Coinbase's Chief Legal Officer Paul Grewal has publicly condemned U.S. banks for opposing the exchange's application for a federal trust charter, framing the resistance as an anti-competitive maneuver rather than a legitimate risk concern. The Independent Community Bankers of America (ICBA) recently urged the Office of the Comptroller of the Currency (OCC) to reject Coinbase's proposal, citing the untested nature of crypto business models and potential instability during market downturns.

The proposed charter WOULD subject Coinbase to direct federal oversight while enabling custodial and settlement services—a strategic expansion that traditional lenders appear keen to thwart. "Banks fear competition, not risk," Grewal asserted in a social media post, highlighting the irony of institutions advocating against regulated crypto frameworks while criticizing the industry's lack of oversight.

Coinbase Exec Condemns Banking Groups for Blocking Crypto Charter Bid

Coinbase Chief Legal Officer Paul Grewal has publicly criticized traditional banking institutions for opposing the exchange's application for a national trust bank charter. Grewal accused these groups of prioritizing protectionism over consumer safety, highlighting a growing rift between crypto firms and established financial players.

The backlash intensified this week as banking associations, including the Independent Community Bankers of America (ICBA), coordinated efforts to prevent crypto companies from obtaining federal banking licenses. In a letter to the Office of the Comptroller of the Currency, the ICBA argued that Coinbase's application failed to meet statutory requirements.

"Imagine opposing a regulated trust charter because you prefer crypto to stay... unregulated," Grewal remarked on social media platform X. He characterized the banking lobby's actions as an attempt to create "regulatory moats" to shield traditional institutions from competition.

Ripple (XRP) Whales Diversify into Mutuum Finance (MUTM) Amid Market Pressures

Large Ripple (XRP) investors are shifting focus to Mutuum Finance (MUTM), acquiring the token at $0.035 as they deem it a superior investment opportunity. This move comes amid technical pressures on XRP, which has seen a 3.5% decline over the past week, trading at $2.50. Whales have transferred $251.8 million worth of XRP, including $189.3 million between unknown accounts and $52.4 million to Coinbase, signaling potential sell-offs.

Mutuum Finance has attracted $18.4 million in investments, with 17,340 accumulators onboard. The project's DeFi lending capabilities and robust yield-security framework are drawing attention, positioning MUTM as a standout choice for 2025. Meanwhile, XRP faces bearish momentum, with resistance at $2 and support at the 200-day SMA of $2.64. The 50-day SMA at $2.75 remains 8.4% above current levels, highlighting short-term weakness.

Coinbase Faces Opposition from Bank Lobbyists Over Trust Charter Application

Coinbase's push for a national trust charter has hit significant resistance from the Independent Community Bankers of America (ICBA), one of Washington's most influential banking lobbying groups. The ICBA has urged the U.S. Office of the Comptroller of the Currency to reject the exchange's application, arguing that granting the charter would set a dangerous precedent. The group contends that Coinbase's business model remains untested during prolonged market stress.

Paul Grewal, Coinbase's Chief Legal Officer, slammed the ICBA's stance as protectionism rather than genuine consumer protection. In a sharp rebuke on social media, Grewal accused bank lobbyists of attempting to build regulatory moats to keep crypto firms out of traditional financial territory. A successful application would allow Coinbase National Trust Co. to offer federally overseen custody, payments, and settlement services—a MOVE that could blur the lines between crypto and traditional finance.

Coinbase Faces Banking Industry Pushback Over National Trust Charter Bid

Coinbase's pursuit of a federal trust charter has sparked resistance from community banks, setting up a clash between crypto ambitions and traditional financial guardrails. The exchange's October 2025 application seeks to streamline custody services under uniform federal oversight rather than navigating varying state regulations.

The Independent Community Bankers of America has formally challenged the move, citing concerns about untested custody models, profitability risks during market downturns, and potential complications in resolution scenarios. Regulatory review by the Office of the Comptroller of the Currency could extend 12-18 months, prolonging the uncertainty surrounding crypto's integration with mainstream finance.