Senate Banking Committee Delays Crypto Market Structure Bill Markup Amid Coinbase Opposition
The Senate Banking Committee has postponed its markup of the digital asset market structure bill due to ongoing bipartisan negotiations.
Coinbase CEO Brian Armstrong publicly opposed the bill, citing concerns over stablecoin rewards, tokenized equities, and erosion of CFTC authority.
The delay highlights tensions between crypto innovation and traditional banking interests, potentially extending regulatory uncertainty.
The U.S. Senate Banking Committee has delayed its planned markup of a landmark crypto market structure bill, originally set for Thursday, following vocal opposition from Coinbase and amid unresolved bipartisan issues.
Committee Chairman Tim Scott (R-S.C.) announced the postponement, emphasizing that stakeholders remain engaged in good faith discussions. “I’ve spoken with leaders across the crypto industry, the financial sector, and my Democratic and Republican colleagues, and everyone remains at the table working in good faith,” Scott said, highlighting the bill’s aim to protect consumers and bolster national security.
Coinbase Pulls Support for Senate Crypto Market Structure Bill Ahead of Key Vote https://t.co/5Qw8sp88Vs #breaking #news
— Cryptopress (@CryptoPress_ok) January 15, 2026
The bill seeks to clarify whether crypto tokens are securities or commodities and assign oversight of spot markets primarily to the Commodity Futures Trading Commission (CFTC). It has faced scrutiny over provisions restricting stablecoin rewards. Traditional banks have lobbied against these yields, arguing they pose risks to regulated deposits, while crypto advocates view them as essential for innovation.
Coinbase, a major player in the industry, withdrew support on Wednesday. In a detailed statement, CEO Brian Armstrong criticized the draft for imposing a de facto ban on tokenized equities, eroding CFTC authority in favor of the SEC, and eliminating stablecoin rewards. “We’d rather have no bill than a bad bill,” Armstrong stated, underscoring the need for fair treatment of crypto alongside traditional finance.
This development comes as the Senate Agriculture Committee also delayed its related markup until late January, signaling broader challenges in merging the legislation. Senator Cynthia Lummis (R-Wyo.) expressed disappointment but pledged to refine the bill based on industry feedback.
The postponement could heighten market volatility for assets like Bitcoin and Ethereum, as investors await clearer rules. While the delay allows for potential improvements, it risks stalling U.S. leadership in digital finance amid global competition. Analysts note that without resolution, ongoing enforcement actions may persist, though the current administration’s pro-crypto stance offers some optimism.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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ETF inflows rebound: U.S. spot Bitcoin ETFs recorded significant net inflows after recent outflows, supporting the rally.
Market drivers: Lower CPI data and institutional demand drove the momentum, with traders eying higher levels.
Bitcoin experienced a strong upward move on January 13-14, 2026, breaking past $94,000 as fresh U.S. Consumer Price Index (CPI) data came in cooler than anticipated, boosting risk appetite across markets. This price action was further supported by a notable rebound in inflows to spot Bitcoin exchange-traded funds (ETFs), reversing a recent streak of outflows.
Bitcoin $96K Surge Bitcoin surges past $96,000 with $590 million in shorts liquidated amid tensions between Trump and the Federal Reserve.
— Cryptopress (@CryptoPress_ok) January 14, 2026
CPI data provides macro tailwind. The latest CPI release showed inflation cooling, aligning with expectations for potential Federal Reserve policy easing. This environment encouraged investors to rotate into risk assets, including cryptocurrencies, contributing to Bitcoin’s rapid ascent.
ETF flows turn strongly positive. Following several days of net outflows, U.S. spot Bitcoin ETFs saw renewed inflows, with reports highlighting a significant daily total that ranked among the strongest in recent months. This institutional buying pressure absorbed available supply and amplified the upward price movement.
Date Total Net Flow IBIT (BlackRock) FBTC (Fidelity) BITB (Bitwise) ARKB (Ark/21S) Other (GBTC, HODL, etc.) Jan 02 & 05 +$697.0 +$287.0 Combined with Ark: +$410.0 Jan 07 -$486.1 -$130.0 -$247.6 -$39.0 -$42.3 -$27.2 Jan 08 -$398.8 -$193.3 -$120.5 +$3.0 -$9.6 -$78.4 Jan 09 -$250.0 -$252.0 +$7.9 -$5.9 $0.0 $0.0 Jan 12 +$116.7 -$70.7 +$111.7 $0.0 $0.0 +$75.7 Jan 13 +$753.8 +$126.3 +$351.4 +$159.4 +$84.9 +$31.8
Broad market participation. The rally extended beyond Bitcoin, with improved sentiment lifting related assets. Analysts noted that the combination of favorable macro data and ETF demand created structural support for further gains, though volatility remains a key consideration given ongoing political and regulatory developments.
Investor considerations. While the current momentum reflects optimism, market participants should watch for continued confirmation through upcoming economic indicators and sustained institutional activity. The interplay between inflation trends and ETF flows will likely remain central to near-term price direction.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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Bank of America and Goldman Sachs Upgrade Coinbase to Buy, Highlighting Expansion Beyond Crypto
Bank of America upgraded Coinbase to Buy with a $340 price target, implying nearly 40% upside.
Goldman Sachs raised its rating to Buy, setting a $303 target amid structural growth shifts.
Analysts emphasize Coinbase’s push into new areas like equities trading, prediction markets, and real-world asset tokenization.
Coinbase Global Inc. has garnered positive attention from major Wall Street institutions, underscoring confidence in its strategic diversification amid a recent stock pullback.
On January 8, 2026, Bank of America analyst Craig Siegenthaler upgraded the stock from Neutral to Buy, pointing to accelerated product development and opportunities in tokenization.
Goldman Sachs followed suit earlier in the week, upgrading to Buy and highlighting growth in derivatives, infrastructure, and innovative products such as tokenization and prediction markets.
The stock has declined 40% from its July 2025 highs, with rising short interest creating an attractive entry point for investors, according to analysts.
Coinbase is evolving into a broader financial services platform,
Craig Siegenthaler
Coinbase’s ambitious roadmap includes launching 24/5 equities trading for S&P 500 stocks, international equity perpetuals in 2026, and a new prediction markets tab via partnership with CFTC-regulated Kalshi.
The company plans to introduce futures on Copper and Platinum on January 26, 2026, further expanding its offerings.
Central to the optimism is Base, Coinbase’s Ethereum layer-2 network, where a potential native token could generate billions in revenue and boost adoption.
Coinbase Tokenize positions the firm as a leader in tokenizing real-world assets like private equity and real estate, combining issuance, custody, and compliance.
“Coinbase is evolving into a broader financial services platform,” Siegenthaler noted, acknowledging near-term crypto volatility but stressing long-term potential amid early adoption stages and supportive U.S. policies under President Trump.
Second COIN upgrade this week.BofA ($340 PT – new BUY): crowded short, de-rated multiple, tax-loss hangover fading with product velocity and Base monetization driving the next leg. https://t.co/7hanQv58Yo pic.twitter.com/7iclrn1y1q
— matthew sigel, recovering CFA (@matthew_sigel) January 8, 2026
VanEck’s Matthew Sigel shared the upgrades on X, noting fading tax-loss pressures and Base monetization as key drivers.
For more on key cryptocurrencies involved, refer to Bitcoin and Ethereum.
Related: Coinbase Overview
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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Truebit Protocol Hit By $26.6M Exploit, TRU Token Crashes 99.9%
Truebit exploit drains $26.6 million in ETH: An attacker exploited a flaw in a five-year-old smart contract to mint and sell TRU tokens, extracting funds from reserves.
TRU token value obliterated: The native token fell from approximately $0.16 to near zero, losing 99.9% of its value amid liquidity evaporation.
Protocol response underway: Truebit is coordinating with law enforcement and has warned users against interacting with the affected contract.
The Truebit protocol, designed for scalable Ethereum verification and off-chain computation, has been compromised in what appears to be the first major DeFi hack of 2026. An attacker exploited a vulnerability in an older smart contract, draining approximately 8,535 Ethereum (ETH) valued at $26.6 million. This incident underscores ongoing security challenges in decentralized finance, particularly with legacy code.
The exploit targeted a minting function in the contract at address 0x764C64b2A09b09Acb100B80d8c505Aa6a0302EF2, which returned a zero purchase price for extraordinarily large token amounts. This allowed the hacker to mint vast quantities of TRU tokens essentially for free, then sell them back to the bonding-curve reserve to extract ETH, repeating the process in loops. Onchain analysts, including Lookonchain and independent researcher “n0b0dy,” detailed the mechanism, noting the attacker used a bribe to prioritize transactions.
Following the breach, Truebit’s native token TRU plummeted 99.9%, dropping from around $0.16 to an all-time low of $0.0000000029, according to data from Nansen. Liquidity pools dried up as holders exited positions, effectively wiping out the token’s market value. The protocol has not confirmed if user funds beyond reserves were affected, but the event raises questions about audit practices for aging contracts.
Today, we became aware of a security incident involving one or more malicious actors. The affected smart contract is 0x764C64b2A09b09Acb100B80d8c505Aa6a0302EF2 and we strongly advise the public not to interact with this contract until further notice. We are in contact with law…
— Truebit (@Truebitprotocol) January 8, 2026
In a statement on X, Truebit acknowledged the incident: “Today, we became aware of a security incident involving one or more malicious actors. The affected smart contract is 0x764C64b2A09b09Acb100B80d8c505Aa6a0302EF2, and we strongly advise the public not to interact with this contract until further notice. We are in contact with law enforcement…” The team has yet to release a full post-mortem, but emphasized steps to mitigate further risks.
Security experts warn that such vulnerabilities highlight the need for continuous contract monitoring. Weilin Li, a researcher cited in reports, attributed the flaw to outdated deployment practices. While DeFi has matured, incidents like this could erode investor confidence, especially amid broader market pressures from ETF outflows and macroeconomic shifts.
For context, onchain data from the exploit can be viewed via the attacker’s wallet and related transactions. Verified X accounts like @Truebitprotocol provide official updates.
Disclaimer: This article is for informational purposes only and does not constitute advice of any kind. Readers should conduct their own research before making any decisions.
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