Coinbase CEO Optimistic on US Crypto Regulation Breakthrough as Market Soars

As the cryptocurrency market experiences a significant surge, Coinbase CEO Brian Armstrong highlights potential advancements in US cryptocurrency regulation. Bipartisan discussions on market structure legislation are underway, though the GENIUS Act, a stablecoin bill, remains a point of contention. Meanwhile, Ethereum leads a robust market rally, with trading volumes and market capitalization reaching new heights.

US Crypto Legislation Advances as Market Surges

Coinbase CEO Brian Armstrong signals imminent progress in US cryptocurrency regulation, citing bipartisan discussions on market structure legislation. The GENIUS Act, a stalled stablecoin bill, remains contentious despite industry hopes for regulatory relief.

Ethereum spearheaded a broad crypto rally, soaring 22% as overall market capitalization climbed 5% to $3.25 trillion. Trading volume exploded 72% to $190 billion, with market sentiment indicators flashing "Greed" for the first time in weeks.

Coinbase Q1 Revenue Declines Amid Cooling Crypto Markets

Coinbase Global Inc. reported a 10% quarterly revenue drop to $2 billion as cryptocurrency trading activity waned in early 2024. The exchange’s net income collapsed to $66 million from $1.29 billion in Q4, dragged down by a $596 million unrealized loss on its digital asset holdings.

Despite the profit plunge, Coinbase outperformed analyst expectations with $1.94 adjusted EPS, narrowly beating the $1.85 consensus. Transaction revenue fell 19% to $1.26 billion as total trading volume slipped 10% to $393 billion, mirroring broader market declines across major cryptocurrencies.

Rumble Announces Tether-Backed Crypto Wallet Launch in Q3 2025, Targeting Coinbase Competition

Rumble founder and CEO Chris Pavlovski revealed plans via social media platform X to launch a Bitcoin and stablecoin wallet by Q3 2025. The video-sharing platform’s crypto venture, developed in collaboration with Tether, aims to challenge established players like Coinbase while supporting creator monetization.

The Rumble Wallet enters a competitive landscape where projects like Best Wallet already secured $12M in early funding. Pavlovski positions the product as an economic tool for digital creators, though technical specifications and regulatory compliance details remain undisclosed.

Tether’s involvement suggests stablecoin integration will feature prominently, potentially offering USD₮-denominated transactions. Market observers note the 2025 timeline allows for development but risks missing near-term bull market opportunities.

Multicoin Capital’s Kyle Samani Critiques Ethereum Scaling, Highlights Base’s Rise

Ethereum’s LAYER 1 scaling efforts, including the recent Pectra upgrade, face skepticism from Multicoin Capital partner Kyle Samani. In a Thursday post on X, Samani dismissed these initiatives as "zero-sum," arguing that EVM developers are increasingly favoring Coinbase’s Base network over Ethereum’s native chain.

"The future of Ethereum is Coinbase," Samani declared, positioning Base as both a beneficiary and competitor to Ethereum. His critique comes as ETH price hits a two-month high, with technical analysts eyeing a potential rally toward $2,700-$2,800 if risk-on sentiment persists.

Multicoin Capital’s bearish stance on ethereum L1 contrasts with market momentum, raising questions about whether institutional players are shifting allegiance to alternative execution layers. The VC firm’s significant investments in competing ecosystems lend weight to Samani’s provocative claims.

Coinbase Derivatives Expands into 24/7 Bitcoin and Ethereum Futures Trading

Coinbase Derivatives has launched round-the-clock futures trading for bitcoin and Ethereum, marking a significant expansion in the crypto derivatives market. The move follows the exchange’s $2.9 billion acquisition of Deribit, the world’s largest crypto derivatives platform, signaling aggressive growth ambitions despite a lackluster Q1 earnings report.

The new offering allows US traders to access BTC and ETH futures contracts at all hours, with perpetual futures slated for introduction in the NEAR future. Coinbase has partnered with multiple firms to ensure system reliability, though technical implementation remains ongoing.

This development comes as institutional interest in crypto derivatives surges, with Coinbase positioning itself to capture market share from competitors. The exchange specifically highlighted derivatives as a key growth opportunity for Q2 during its recent earnings disclosure.