Coinbase Challenges Senate’s Stablecoin Restrictions in Revised Digital Assets Bill

Coinbase, a leading U.S. cryptocurrency exchange, has publicly opposed key provisions in the U.S. Senate's revised Digital Asset Market Clarity Act, particularly targeting restrictions on stablecoin yield programs and data access. The updated draft, spearheaded by Senators Thom Tillis and Angela Alsobrooks, introduces stricter measures than previous versions, including a complete ban on yield payments for stablecoin balances and limitations on transaction data accessibility. These changes are reported to reflect significant influence from traditional banking lobbyists, raising concerns within the crypto industry about overreach and stifling innovation. The bill's evolution signals a hardening regulatory stance toward digital assets, specifically targeting mechanisms like reward programs that have become popular among crypto platforms. Coinbase's opposition highlights a growing clash between established financial institutions seeking to impose traditional banking frameworks and crypto enterprises advocating for tailored regulations that foster growth and technological advancement. This development occurs amidst broader global discussions on stablecoin regulation, with implications for consumer access to crypto-based financial products and the competitive landscape between fintech and conventional finance sectors. The outcome of this legislative process could set a precedent for how digital assets are integrated into the U.S. financial system, balancing consumer protection with market innovation.

Coinbase Opposes Senate's Stablecoin Crackdown in Revised Digital Assets Bill

The US Senate's latest draft of the Digital Asset Market Clarity Act has drawn sharp opposition from Coinbase. The exchange rejects provisions banning yield payments on stablecoin balances and restricting transaction data access—measures heavily influenced by banking lobbyists.

Senators Tillis and Alsobrooks revised the bill to eliminate crypto reward programs entirely, going beyond earlier versions that permitted limited loyalty-style incentives. This reflects traditional finance's growing pressure to curb stablecoins' competitive threat to bank deposits.

The amendments signal escalating regulatory headwinds for exchanges. Coinbase's resistance highlights the industry's struggle to preserve innovative yield products against policymakers favoring banking sector stability.

GameStop Utilizes Bitcoin Holdings for Options Strategy via Coinbase

GameStop has deployed nearly its entire Bitcoin treasury in a sophisticated options strategy with Coinbase, revealing the move in its latest SEC filing. The company pledged 4,709 of its 4,710 BTC holdings as collateral for covered-call options, maintaining exposure while generating premium income.

The contracts feature strike prices between $105,000-$110,000 with late March expirations, reflecting bullish long-term conviction. GameStop now carries a $368.3 million receivable on its balance sheet instead of direct BTC ownership, recording mixed results: a $2.3 million unrealized gain alongside a $59.7 million paper loss from price declines.

This treasury maneuver follows CEO Ryan Cohen's 2025 consultation with MicroStrategy's Michael Saylor about corporate Bitcoin strategies. At its peak, GameStop's stash ranked among the top 25 corporate BTC holdings globally.

Fannie Mae Partners with Coinbase to Pioneer Crypto-Backed Mortgages

Fannie Mae is breaking new ground in mortgage finance by accepting cryptocurrency as collateral for down payments. The government-sponsored enterprise has partnered with Coinbase and Better Home & Finance to create a program where buyers can pledge Bitcoin or USDC instead of liquidating digital assets.

The innovative structure uses a dual-loan approach: a traditional Fannie-backed mortgage paired with a separate crypto-collateralized loan. This allows borrowers to maintain their cryptocurrency positions while avoiding capital gains taxes from forced sales. The crypto-backed portion may carry rates up to 150 basis points higher than conventional mortgages.

The initiative follows a 2025 directive from FHFA Director Bill Pulte urging Fannie Mae and Freddie Mac to recognize crypto as legitimate mortgage collateral. With $4.1 trillion in assets, Fannie Mae's move signals institutional validation of digital assets in mainstream finance.

GameStop’s Bitcoin Collateralization Strategy Sparks Market Discussion

GameStop has drawn significant attention from both traditional finance and cryptocurrency markets after disclosing its unconventional Bitcoin collateralization strategy. The video game retailer allocated nearly all of its Bitcoin holdings—4,709 out of 4,710 BTC—to Coinbase as collateral for a covered-call options scheme, retaining direct custody of just one token.

The move, detailed in GameStop’s annual 10-K filing, serves dual purposes: it refutes rumors of a Bitcoin sell-off while implementing a sophisticated treasury management strategy. By writing call options with strike prices between $105,000-$110,000 expiring March 2026, GameStop aims to generate premium income without liquidating its core Bitcoin position.

This approach creates an asymmetric payoff structure—the company keeps premiums if Bitcoin remains below strike prices, but caps upside potential if prices surge beyond those levels. The strategy reflects growing institutional interest in cryptocurrency yield generation beyond simple hodling or trading.

Better and Coinbase Launch Bitcoin-Backed Mortgages Amid Crypto Volatility

Better, an AI-native mortgage platform, and Coinbase have introduced a cryptocurrency-backed mortgage product allowing borrowers to use Bitcoin or USDC as collateral for home deposits. The offering targets crypto holders seeking financing without liquidating assets—sidestepping capital gains taxes. The structure adheres to Fannie Mae standards but drew criticism from economist Peter Schiff, who warned of heightened default risks for lenders.

The product notably avoids margin calls if Bitcoin's value declines, with liquidation only triggered after 60 days of payment delinquency. This rollout coincides with Bitcoin's price volatility below $70,000, testing the resilience of crypto-collateralized lending models.

Better positions the initiative as a solution for crypto-rich but cash-poor Americans, emphasizing tax efficiency. Yet skeptics question the long-term viability given crypto's inherent price swings and regulatory uncertainties.