Coinbase CLO Calls Out Five U.S. States for Ignoring CLARITY Act on Crypto Staking

Coinbase Chief Legal Officer Paul Grewal has publicly criticized five U.S. states—California, New Jersey, Washington, Maryland, and Wisconsin—for persisting with legal actions against crypto staking services. This comes despite the CLARITY Act's clear stance that staking-as-a-service is not a security. Grewal emphasized that these state-level actions directly contradict federal legislation, which was passed with bipartisan support. The ongoing legal battles highlight the tension between state and federal regulators in the rapidly evolving cryptocurrency landscape. Coinbase remains committed to defending its staking services and advocating for regulatory clarity in the digital asset space.

Coinbase CLO Exposes 5 U.S. States for Defying CLARITY’s Crypto Staking Rules

Coinbase Chief Legal Officer Paul Grewal has publicly criticized five U.S. states for continuing legal actions against crypto staking services, despite the CLARITY Act's clear stance that staking-as-a-service is not a security. California, New Jersey, Washington, Maryland, and Wisconsin are persisting with claims against Coinbase, directly contradicting federal legislation passed with bipartisan support.

The CLARITY Act, which passed the House last month, explicitly excludes staking services from securities classification. Grewal highlighted the irony that 32 Democratic lawmakers from these states voted for the bill, yet local regulators are disregarding its provisions. This defiance has sparked frustration within the crypto industry, as it undermines regulatory clarity and creates unnecessary legal uncertainty.

Aerodrome Finance Token Shows Resilience Amid Market Pressure as Smart Money Accumulates

Aerodrome Finance's AERO token faces downward pressure, marking its third consecutive day of declines. Despite dipping to $0.8920—below the week's peak of $0.98—the token remains 205% above its April lows. Institutional interest persists, with smart money investors adding $1.3 million in AERO over the past week, bringing total holdings to $16 million.

Whale activity mirrors this confidence, with holdings surging 18% to 9.55 million tokens in 30 days. The accumulation coincides with Aerodrome's network volume doubling to $4 billion weekly, cementing its dominance as Base's top decentralized exchange. Coinbase's rollout of The Base App, integrating Aerodrome as a Core trading platform, may further amplify adoption.

Coinbase Ethereum Premium Emerges, Signaling Institutional Demand for ETH

Ethereum is showing strong signs of institutional accumulation as a Coinbase premium emerges for the first time in months. U.S. investors are driving demand, with BlackRock's recent ETH purchases surpassing its Bitcoin buys. Spot ETF inflows hit record levels, reinforcing the bullish narrative.

The $4,000 price target appears increasingly plausible as market conditions remain stable without signs of overheating. CryptoQuant data reveals the Coinbase premium—typically indicative of institutional activity—has returned after a prolonged absence. This aligns with Ethereum's steady price consolidation above key support levels.

While short-term sideways movement persists, analysts note the absence of speculative froth suggests room for upward momentum. The second half of 2024 could test market resilience if current accumulation patterns continue at this pace.

Charles Schwab Enters Crypto War, Launching Spot Bitcoin & Ethereum Trading

Charles Schwab, the $10.7 trillion asset management giant, is preparing to launch direct spot trading for bitcoin and Ethereum. CEO Rick Wurster confirmed the move in a CNBC interview, positioning Schwab as a competitor to crypto-native platforms like Coinbase. The brokerage aims to consolidate client assets—stocks, bonds, and now crypto—under one roof.

Schwab clients already hold $25 billion in crypto exposure through exchange-traded products, representing over 20% of the ETP market. Yet this remains a fractional slice of the firm’s total assets. The timing aligns with regulatory clarity, including the GENIUS Act’s stablecoin framework and relaxed banking restrictions.

Coinbase CEO Hails Trump's GENIUS Act as Catalyst for Financial Revolution

President Donald TRUMP has signed the GENIUS Act into law, marking a watershed moment for cryptocurrency regulation. Coinbase CEO Brian Armstrong, speaking from the White House lawn, declared the legislation could modernize global payments through stablecoin adoption.

The act establishes the first federal framework for dollar-pegged stablecoins, providing legal clarity for their use in financial transactions. Armstrong emphasized the potential to replace legacy systems with faster, cheaper alternatives accessible worldwide.

While celebrating this regulatory milestone, Armstrong noted the crypto industry's work remains unfinished. Market participants are now shifting attention to pending legislation that could further shape the digital asset landscape.

Robinhood and Coinbase Surge as Crypto Legislation Gains Traction

Wall Street's embrace of cryptocurrency reached a new zenith as the U.S. House of Representatives passed the landmark Genius Act, providing digital assets with their first legal framework. Shares of Robinhood and Coinbase skyrocketed, reflecting broad market optimism. Robinhood's stock soared past $110, marking a 380% annual gain, while Coinbase benefited from renewed institutional interest.

The legislation's passage signals a regulatory turning point for the crypto sector. Retail traders and institutional investors alike are positioning for growth, with platforms like Robinhood capitalizing on surging demand for tokenized assets and AI-driven trading tools. The EU expansion of tokenized options trading further underscores the global momentum behind crypto adoption.