Coinbase and its CEO Brian Armstrong said the passage of the CLARITY Act in the Senate, scheduled for September 15, could unlock institutional capital and pave the way for products such as tokenized equities. The bill, which aims to establish a federal framework for digital assets by splitting oversight between the SEC and the CFTC, appears close to the 60 votes needed, though ethics provisions remain under negotiation. Coinbase reported lower results for the second quarter of 2026: revenue of $1.2 billion, down from $1.5 billion a year earlier, with a net loss of $359.5 million versus a $1.43 billion profit in the year-ago period. The exchange has suffered three consecutive quarters of decline in spot trading, which still accounts for roughly half of its revenue.
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