Bitcoin rebounded more than 11% from its June 5 low near $59,000 to around $66,500 as easing Middle East tensions and continued institutional accumulation from major corporate buyers helped restore confidence despite lingering skepticism about the bull market.
Jack Dorsey urged Coinbase CEO Brian Armstrong to confirm support for de minimis relief on Bitcoin payments, following reports the exchange favors stablecoins-only treatment.
Coinbase has launched 24/5 commission-free stock and ETF trading for all U.S. users, expanding beyond crypto in a bid to become an “everything exchange” and diversify revenue.
Coinbase CEO Brian Armstrong dismissed “paper Bitcoin” claims, insisting spot Bitcoin ETFs are fully backed, while defending Coinbase’s dominant custody role and calling U.S. regulatory clarity the next key step for the industry.
Coinbase is facing some selling pressure on Wall Street as analysts trim expectations and insider selling adds to investor unease ahead of the company’s upcoming earnings report.