Coinbase Demands Treasury Maintain GENIUS Act Alignment with Congressional Intent

Coinbase throws down the gauntlet—urging Treasury officials to stop playing regulatory chess with the GENIUS Act.

The Congressional Blueprint

Lawmakers crafted the GENIUS Act to create clear pathways for digital asset innovation—not another bureaucratic maze. Coinbase argues Treasury's current interpretation risks distorting legislative intent beyond recognition.

Industry Backlash Mounts

Multiple crypto firms join the chorus, warning that regulatory overreach could push innovation offshore. They point to jurisdictions already implementing GENIUS-inspired frameworks with remarkable success.

Timing Creates Pressure Cooker

With implementation deadlines looming, Treasury faces mounting pressure to align technical rules with Congressional vision. The alternative? Another classic case of regulators building a bridge to nowhere while the industry builds hyperloops.

The final rule could either cement America's crypto leadership—or become another textbook example of financial innovation getting lost in translation between Capitol Hill and bureaucratic hallways.

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What Moved the QQQ ETF?

The QQQ ETF, which tracks the performance of the Nasdaq 100 Index (), ROSE 0.65% on Wednesday, driven by a recovery in artificial intelligence (AI) and tech stocks.

In Thursday’s pre-market trading, the QQQ ETF was up 0.19%, as traders watch the lofty valuations of AI stocks and the Supreme Court’s arguments about Trump’s tariffs.

QQQ’s Key Holdings with Highest Upside/Downside Potential

According to TipRanks’ unique ETF analyst consensus, which is based on a weighted average of analyst ratings on its holdings, QQQ is a Moderate Buy. The Street’s average price target of $707.36 for the QQQ ETF implies an upside potential of 13.5%. 

Currently, QQQ’s five holdings with the highest upside potential are Strategy (MSTR), Dexcom (DXCM), Atlassian Corporation (TEAM), The Trade Desk (TTD), and CoStar Group (CSGP).  

Meanwhile, its five holdings with the greatest downside potential are Tesla (TSLA), Applied Materials (AMAT), Micron Technology (MU), Warner Bros. Discovery (WBD), and Intel (INTC).

Revealingly, QQQ ETF’s Smart Score is eight, implying that this ETF is likely to outperform the broader market.