Daily News 19

Tag: Brian Armstrong

  • Coinbase CEO Brian Armstrong Predicts Bitcoin Will Reach $400,000 Within Four Years

    Coinbase CEO Brian Armstrong Predicts Bitcoin Will Reach $400,000 Within Four Years

    Key Highlights

    • Coinbase CEO Brian Armstrong predicts Bitcoin could reach $400,000 by 2030 based on historical halving cycles, though he emphasizes this is a possible outcome, not a fixed forecast.
    • Coinbase launches fixed-rate USDC loans backed by Bitcoin via the Morpho Midnight protocol on its Base blockchain, coexisting with its existing variable-rate Morpho Blue product.
    • U.S. spot Bitcoin ETFs attracted $2.4 billion in net inflows for the week ending September 25, the largest weekly intake since October 2025, while Defense Secretary Pete Hegseth disclosed personal Bitcoin holdings valued between $16,000 and $65,000.

    Armstrong’s $400,000 Bitcoin Prediction Rooted in Halving Cycles

    Coinbase Global (NASDAQ: COIN) Chief Executive Officer Brian Armstrong reiterated his long-term Bitcoin price target during a September 19 interview with MoneyRehabPodcast, stating he still sees a path for Bitcoin to reach $400,000 by 2030. Armstrong’s view is built around Bitcoin’s historical market cycles, specifically the network’s programmed halving events that cut the amount of new BTC entering circulation approximately once every four years.

    According to Armstrong, previous halving periods have often been followed by sharp price runs, then major pullbacks that can drag on for close to a year. He suggested another similar cycle could take Bitcoin to around three times its previous record price before 2030. However, Armstrong made clear that the estimate depends on Bitcoin behaving in a way that resembles earlier cycles, and that earlier price action cannot tell investors exactly what comes next. The target is therefore a possible outcome, not a fixed forecast.

    As of 16:01 WIB on September 25, Coinbase shares were priced at $198.85 on Pluang, down 0.18% over 24 hours. The crypto exchange held a market value of $52.27 billion, while COIN’s 52-week trading range stood between $141.09 and $387.27.

    Coinbase Expands Lending with Fixed-Rate Bitcoin-Backed Loans

    Coinbase has also expanded its lending business with fixed-rate USDC loans backed by Bitcoin. The new product allows borrowers to receive their interest charge and repayment deadline at the start of the loan instead of watching the cost move with market conditions.

    The fixed-rate offering works with Morpho Midnight, a decentralized lending protocol introduced in July. The protocol does not retain any customer funds and allows for lending with predetermined borrowing rates and fixed terms. Transactions on the network will be settled using Base, Coinbase’s second-layer blockchain built upon Ethereum.

    Coinbase currently provides another cryptocurrency lending product called Morpho Blue, which uses variable borrowing rates that depend on available liquidity and demand for loans, making customers pay higher rates during periods of increased borrowing activity. The fixed product will coexist with the current offering rather than replace it. Currently, Coinbase’s variable-rate lending market features more than $1.4 billion in active loans with total collateral of nearly $3 billion.

    Bitcoin ETF Inflows Surge to $2.4 Billion Weekly

    Demand for spot Bitcoin ETFs has picked up sharply. The Block, using SoSoValue figures, reported that U.S. funds received $2.4 billion of net inflows during the week ending September 25, marking their biggest weekly intake since October 2025. Monday accounted for a large chunk of that money, with the 12 Bitcoin ETFs tracked by SoSoValue collecting $999 million in one day. That marked their strongest daily result since October 6, 2025 and ranked as the ninth-biggest daily inflow since U.S. spot Bitcoin ETFs began trading in January 2024.

    The buybacks put the flows back into positive territory for 2026. Year-to-date net flow figures were around $934.1 million. As of July 13, that same group was showing about $5.8 billion in net outflows. The funds have generated about $57.6 billion in net inflows since inception. Net assets for all funds totaled about $108.4 billion as of Friday.

    According to Bloomberg ETF analyst Eric Balchunas, the change in flows is due to the Treasury’s plans to increase purchases of longer-term Treasuries.

    Defense Secretary Pete Hegseth Discloses Personal Bitcoin Holdings

    Defense Secretary Pete Hegseth has also disclosed personal Bitcoin exposure in his newly released 2025 annual ethics filing. The filing lists at least $3.1 million across cash, retirement investments, and BTC. The disclosure includes more than $1 million sitting in one bank account. Hegseth, a former Fox News host who became Defense secretary in January 2025, is also facing impeachment demands from members of his own party over his handling of the war with Iran.

    Hegseth had a total of five retirement accounts that ranged in value between about $2.05 million and $4.35 million. Three of these accounts, which belonged to Hegseth, were worth about $500,000 to $1.25 million. His wife, Jennifer Hegseth, had a total of two Rollover IRAs that were worth about $1.55 million to $3.1 million.

    The couple also disclosed three cash accounts. One was reported only as being “worth more than $1 million.” Their Bitcoin position was valued between approximately $16,000 and $65,000. The wide range in the federal disclosure forms makes it difficult to make a clear year-to-year wealth comparison. In Hegseth’s nomination form from December 2024, the total amount of financial assets falls within $1.4 million and $3.4 million. In the most recent filing, the lower range is $3.1 million with no upper limit since there is no ceiling for the largest cash account.

    The only major change is in the bank balance. Hegseth’s earlier disclosure reveals an account called “U.S. Bank #2” which ranged from $15,001 to $50,000. In the current filing, the account holding the same name ranges above $1 million.

    Why This Matters

    The convergence of institutional price predictions, expanding crypto-native financial infrastructure, and surging ETF demand signals deepening mainstream integration of Bitcoin into traditional finance. Armstrong’s halving-cycle thesis, while speculative, reflects a widely watched analytical framework among market participants. Coinbase’s launch of fixed-rate borrowing via Morpho Midnight on Base demonstrates how centralized exchanges are bridging into decentralized finance primitives, offering users predictable costs previously unavailable in variable-rate DeFi lending. The record-breaking ETF inflows—reversing months of outflows—suggest renewed institutional appetite, potentially influenced by macro shifts in Treasury policy as noted by Balchunas. Meanwhile, a sitting Cabinet secretary’s disclosed Bitcoin holdings, however modest, mark a notable milestone in political normalization of digital asset ownership.

    Frequently Asked Questions

    What is Brian Armstrong’s Bitcoin price prediction and what is it based on?

    Coinbase CEO Brian Armstrong predicts Bitcoin could reach $400,000 by 2030. His forecast is based on historical halving cycles, where the reduction in new BTC supply every four years has previously been followed by significant price appreciation. Armstrong emphasizes this is a possible outcome if Bitcoin behaves similarly to past cycles, not a guaranteed forecast.

    How do Coinbase’s new fixed-rate Bitcoin-backed loans work?

    Coinbase’s fixed-rate USDC loans allow borrowers to lock in their interest charge and repayment deadline upfront, using Bitcoin as collateral. The product operates through the Morpho Midnight protocol, which does not hold customer funds, and settles transactions on Base, Coinbase’s Ethereum layer-2 blockchain. This fixed-rate option coexists with the existing variable-rate Morpho Blue product.

    What drove the recent surge in U.S. spot Bitcoin ETF inflows?

    U.S. spot Bitcoin ETFs saw $2.4 billion in net inflows for the week ending September 25, the largest weekly intake since October 2025. According to Bloomberg ETF analyst Eric Balchunas, the shift is attributed to the Treasury’s plans to increase purchases of longer-term Treasuries, which may be influencing investor risk appetite and portfolio allocation toward Bitcoin exposure.

  • Coinbase, Robinhood, Circle Positioned as Early Winners in SEC Tokenized Stock Push, Analysts Say

    Coinbase, Robinhood, Circle Positioned as Early Winners in SEC Tokenized Stock Push, Analysts Say

    Key Highlights

    • The SEC’s five-year innovation exemption establishes a regulatory pathway for tokenized U.S. stocks to trade via automated market makers on public blockchains, requiring preservation of shareholder rights including dividends and voting.
    • Goldman Sachs and Citizens analysts identify Coinbase as a primary beneficiary due to its existing tokenized-equity offering, institutional custody business, Coinbase Tokenize infrastructure, and Base blockchain ecosystem.
    • Coinbase CEO Brian Armstrong confirmed voting rights for token holders are “coming soon,” addressing a key requirement for parity with traditional shareholders.

    SEC Innovation Exemption Creates Onchain Pathway for U.S. Equities

    The U.S. Securities and Exchange Commission has unveiled a five-year innovation exemption that carves out a regulated framework for tokenized U.S. stocks to trade through automated market makers on public blockchains. The exemption mandates that tokens preserve core shareholder rights—specifically dividends and voting—while imposing constraints on trading venues, including limits on trading volume and the number of stocks they may offer. This targeted experiment signals a cautious but concrete step toward integrating traditional securities with decentralized market infrastructure.

    Goldman Sachs and Citizens Pinpoint Coinbase as Multi-Vector Beneficiary

    Analysts at Goldman Sachs project that Coinbase stands to benefit across multiple business lines as the tokenized-equity landscape matures. The firm’s existing tokenized-equity offering already aligns with many SEC requirements, featuring shareholder rights and dividends comparable to the underlying shares. Complementing this, Coinbase operates an institutional custody business and Coinbase Tokenize, a dedicated infrastructure service that enables other firms to bring assets onchain. Citizens analysts echoed this view, emphasizing Coinbase’s sprawling reach across custody, tokenized assets, stablecoins, and its Ethereum Layer 2 network, Base.

    Armstrong Confirms Voting Rights Rollout Imminent

    A critical piece of the compliance puzzle fell into place this week when Coinbase CEO Brian Armstrong stated that voting rights for token holders are “coming soon.” This development would bring tokenized-equity holders to functional parity with investors in the underlying shares, satisfying a core condition of the SEC’s exemption. The announcement underscores Coinbase’s proactive approach to meeting regulatory expectations ahead of broader market adoption.

    Robinhood and Circle Also Positioned for Upside

    While Coinbase commands the most detailed analyst coverage, the exemption’s ripple effects extend to other major players. Robinhood and Circle are cited as potential beneficiaries should the scope of tokenized U.S. securities expand beyond the current narrow pilot. Both firms possess the retail distribution, brokerage infrastructure, and stablecoin capabilities—particularly Circle’s USDC—that could prove pivotal in a scaled onchain equities market.

    Why This Matters

    The SEC’s innovation exemption represents the first formal U.S. regulatory acknowledgment that public blockchains can serve as legitimate venues for securities trading, albeit within strict guardrails. By requiring automated market makers to uphold dividend and voting rights, the regulator is attempting to bridge the investor-protection gap that has historically stalled tokenization efforts. For market participants, the five-year window offers a defined period to build compliant infrastructure, demonstrate demand, and lobby for permanent rulemaking. The involvement of custodians like Coinbase and stablecoin issuers like Circle suggests the emerging stack—custody, settlement, tokenization, and liquidity—is coalescing around a handful of regulated entities. Analysts will be watching trading-volume caps and stock-count limits closely; if these constraints bind quickly, pressure for legislative or rule-based expansion will intensify.

    Frequently Asked Questions

    What specific shareholder rights must tokenized stocks preserve under the SEC exemption?

    The exemption requires that tokenized stocks maintain dividends and voting rights equivalent to those of the underlying traditional shares.

    Which Coinbase business lines do analysts highlight as relevant to the tokenized-equity opportunity?

    Goldman Sachs and Citizens point to Coinbase’s existing tokenized-equity offering, institutional custody business, Coinbase Tokenize infrastructure platform, stablecoin operations, and the Base Layer 2 blockchain as key growth vectors.

    Are Robinhood and Circle expected to benefit immediately from the exemption?

    Analysts describe the current experiment as narrow, but note that Robinhood and Circle are well-positioned to benefit if the program expands to include more U.S. securities onchain.

  • SEC Setback as CLARITY Act Fails to Advance in Senate

    SEC Setback as CLARITY Act Fails to Advance in Senate

    CLARITY Act Stalls in Senate, Putting Spotlight on SEC and CFTC Crypto Authority

    The CLARITY Act failed to advance in the Senate on September 15, 2026, dealing a blow to legislative efforts aimed at establishing a structured regulatory framework for digital assets. The setback was highlighted by Coinbase CEO Brian Armstrong, who expressed disappointment while noting that existing regulatory tools remain available to provide clarity.

    What Happened: Legislative Gridlock Shifts Focus to Agency Action

    The broader cryptocurrency market is showing mixed signals against this backdrop of regulatory uncertainty. The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have previously indicated they possess the authority to implement necessary rules without the CLARITY Act, which was designed to create more structured guidelines for the industry.

    As the regulatory landscape evolves, stakeholders will be closely monitoring how these agencies leverage their existing powers to bring definition to the crypto environment.

    Key Takeaways

    • The CLARITY Act did not advance in the Senate as of September 15, 2026.
    • Brian Armstrong emphasizes the ongoing need for regulatory clarity.
    • The SEC and CFTC are expected to act under existing authorities.
    • Future regulatory frameworks may emerge without congressional approval.
    • The current situation underscores the urgency for clear crypto regulations.

    Market Snapshot: Traders Await Guidance

    Market activity currently shows a standstill, with no reported volume or significant price changes. The lack of movement reflects uncertainty as traders await clearer guidance on regulatory developments. The SEC and CFTC’s ability to act on their own authority may prompt shifts in market sentiment once clarity is established.

    Regulatory Primer: SEC vs. CFTC Jurisdiction

    The SEC is the primary regulatory body overseeing securities markets in the U.S. Its jurisdiction includes enforcing securities laws and ensuring fair practices in financial markets, including cryptocurrencies. The CFTC regulates commodity futures and options markets. Both agencies are pivotal in shaping the future of crypto regulation.

    What to Watch Next

    Traders and industry participants should monitor several key catalysts:

    • Potential announcements from the SEC and CFTC regarding new regulations or enforcement priorities.
    • Any clarification from either agency on their stance toward digital assets under existing authorities.
    • Bipartisan discussions that could revive the CLARITY Act or similar legislation, as political movements may influence regulatory momentum.

    If the SEC and CFTC begin to clarify their positions on crypto under current mandates, it could significantly impact market dynamics and provide the certainty the industry has been seeking.

  • Coinbase CEO: “$400,000 Is a Reasonable Target for Bitcoin”

    Coinbase CEO: “$400,000 Is a Reasonable Target for Bitcoin”

    Coinbase CEO Brian Armstrong Projects $400,000 Bitcoin by 2030

    Coinbase CEO Brian Armstrong has reiterated his long‑term bullish outlook for Bitcoin, stating that a price of $400,000 by 2030 is a “reasonable target.” In a recent interview, Armstrong outlined the key drivers behind his prediction, citing market cycles, evolving U.S. regulation, and growing institutional capital inflows.

    Bitcoin’s Four‑Year Market Cycle Nearing a Turning Point

    Armstrong emphasized that Bitcoin continues to follow an approximate four‑year cycle characterized by a strong rally, a period of euphoria, and a subsequent correction. He noted that the current downturn may be approaching its end.

    “Typically, there’s a rise, then a period of euphoria, and then a decline. Most declines last about a year, and we’ve already passed the one‑year threshold in the current decline.”

    Pointing to Bitcoin’s rebound from support around $60,000, Armstrong expressed confidence that the cycle bottom is behind us.

    “Personally, I believe that the bottom of this latest cycle in Bitcoin is behind us. We’ve already seen it start rising from around $60,000.”

    Regulatory Clarity and the CLARITY Act

    Regulatory developments in the United States play a significant role in Armstrong’s $400,000 forecast. He highlighted the CLARITY Act, a bill designed to establish a clearer legal framework for cryptocurrencies. While passage of the act would be a major milestone, Armstrong argued that Bitcoin’s upward trajectory does not depend solely on its success; subsequent regulatory rules could also shape the market’s direction.

    Armstrong described the legislation as a “regulatory checkbox” that would remove substantial uncertainty for banks and asset managers, potentially unlocking a wave of institutional investment.

    “This would be a huge milestone. It could pave the way for institutional capital and bring products like tokenized shares to the US. That would be very positive for the industry.”

    Macro Tailwinds: Bond Market Pressure and Alternative Assets

    Beyond crypto‑specific factors, Armstrong pointed to stress in global bond markets as a catalyst for demand for alternative stores of value such as Bitcoin. If these macroeconomic pressures combine with regulatory progress and the natural market cycle, he believes Bitcoin could enter another strong bull phase in the coming years, ultimately reaching the $400,000 level by 2030.

    *This is not investment advice.

  • Crypto Wins Regardless of Clarity Act Vote, Coinbase’s Armstrong Says

    Crypto Wins Regardless of Clarity Act Vote, Coinbase’s Armstrong Says

    Coinbase CEO Highlights Bipartisan Progress on Crypto Legislation, Flags Ethics Negotiations

    Coinbase CEO Brian Armstrong said significant bipartisan progress has been made on comprehensive cryptocurrency legislation, though key ethics provisions for elected officials remain under negotiation.

    Broad Coalition Backs Measure

    Armstrong described the legislative process as collaborative, noting extensive input from stakeholders across the political spectrum and industry.

    “There’s been a lot of good bipartisan compromise, hundreds of pages of input from both sides,” he said, adding that law enforcement groups, banks and crypto companies are behind it.

    He confirmed that the “must-have issues” Coinbase had previously raised “have now been resolved.”

    Ethics Provisions for Officials Still Unresolved

    One outstanding issue involves ethics rules for elected officials who hold digital assets. When asked whether the legislation adequately addresses potential conflicts of interest, Armstrong indicated negotiations are ongoing.

    “the details are still being worked out and negotiated.”

    He outlined the current positions:

    the White House has “already put out an offer on the table that has a very strong ethics provision,” while Democrats “have requested something a little bit beyond that, which would include divestiture.”

    Despite the gap, Armstrong expressed optimism that a resolution is near.

    “appear to be very close to a solution.”

    Armstrong Pushes Back on Regulatory Arbitrage Claims

    Responding to criticism from JPMorgan Chase CEO Jamie Dimon — who has accused Coinbase of leveraging the bill’s stablecoin provisions for regulatory arbitrage against traditional banks — Armstrong did not name Dimon directly but characterized the opposition as self-interested.

    critics with large payments businesses face a “competitive issue” and are “talking their own book.”

    Armstrong countered that major financial institutions support the legislation, citing Goldman Sachs, BNY Mellon and Fidelity as backers.

    Agentic Finance Identified as Next Growth Frontier

    Looking beyond current legislative fights, Armstrong pointed to agentic finance as an emerging area with significant potential.

    “still early, but that’s the big TAM that’s on the horizon.”