Coinbase Global launched 'Coinbase Business' and 'Coinbase Advisor.' The new services cater to institutional, corporate, and advisory clients. This move aims to broaden the revenue base beyond retail crypto trading. The launch follows the company managing fallout from a recent technical glitch. The glitch caused some users to see incorrect account balances.
Coinbase actively engages in the regulatory landscape. It publicly opposes the revised CLARITY Act, citing concerns over implications for DeFi and tokenized equities.
Institutional activity increased on Coinbase Prime. GameStop transferred its entire Bitcoin treasury to the platform. The treasury is valued at over $420 million, fueling speculation of a potential sale.
These developments mark a pivotal moment for Coinbase. The company pushes for institutional growth while navigating operational challenges and an evolving regulatory environment. Investors will monitor the success of the new platforms and the ability to manage technical reliability and regulatory headwinds.