Coinbase Broadens Altcoin Access for New Yorkers with Latest BitLicense-Compliant Listings

Coinbase continues to expand its altcoin offerings for New York residents, adding Subsquid (SQD), Celestia (TIA), XYO (XYO), and Bittensor (TAO) under the state's rigorous BitLicense framework. This marks the exchange's third regional listing expansion within a month, demonstrating its commitment to regulatory compliance while providing users with access to emerging digital assets. The move highlights Coinbase's ability to navigate complex regulatory environments, as New York requires separate approvals for each cryptocurrency offered in the state. Notably, SQD has recently shown significant price momentum, though the article cuts off before detailing its performance. This expansion comes at a time when institutional and retail interest in altcoins is growing, with 2025 seeing increased adoption of blockchain infrastructure projects like Celestia and AI-focused tokens such as Bittensor. The July 9, 2025 announcement reinforces Coinbase's position as a bridge between traditional finance and the crypto economy, particularly in highly regulated markets like New York.

Coinbase Expands Altcoin Offerings for New York Residents Under BitLicense Framework

Coinbase has enabled trading for four additional altcoins—Subsquid (SQD), Celestia (TIA), XYO (XYO), and Bittensor (TAO)—for New York residents, marking its third regional listing expansion in a month. The move reflects the exchange's compliance with New York's stringent BitLicense requirements, which mandate separate approvals for digital asset offerings in the state.

While SQD recently surged to an all-time high after its June debut on Coinbase's global platform, the New York listing elicited minimal market reaction. TIA and TAO have been available elsewhere on the exchange since 2023 and early 2025, respectively, with XYO being one of the platform's longer-tenured assets. The incremental rollout underscores the regulatory fragmentation facing crypto exchanges as they navigate legacy financial frameworks.

Circle (CRLC) Stock Drops as Wall Street Questions Stablecoin Sustainability

Circle's stock (CRCL) tumbled during Tuesday's session following bearish analyst commentary, despite a 566% surge since its June IPO. Mizuho Securities flagged looming risks from Fed rate cuts and overstated growth expectations for USDC, slapping an $85 price target on shares.

The stablecoin issuer faces mounting headwinds as analysts warn of compressed Treasury yields eating into reserve income. Distribution cost pressures compound the challenge, with Circle sharing significant revenue with partners like Coinbase.

Regulatory threats loom large - the proposed GENIUS Act could fracture Circle's market dominance by inviting new competitors. Seaport Research's $500B stablecoin market projection offers little solace, as multiple players WOULD dilute USDC's first-mover advantage.