Coinbase Global (NASDAQ:COIN) settled its SEC records lawsuit Wednesday, winning $150,000 and a policy overhaul, a day after jumping 10% on Clarity Act optimism.
What Did Coinbase Win From The SEC?
The SEC agreed Wednesday to pay $150,000 in attorney fees to consultant firm History Associates, release two previously withheld documents, and overhaul its record retention practices as part of the settlement.
Coinbase Chief Legal Officer Paul Grewal wrote in a Wall Street Journal op-ed that former SEC Chair Gary Gensler ran a “litigation campaign against the industry” and that the agency lost text messages between Gensler and other officials after what the SEC described as an automatic data wipe.
Coinbase filed the lawsuit in 2024 after accusing regulators of coordinating to cut crypto companies off from banking services.
“FDIC and SEC are rewriting disclosure and records retention practices, which will improve transparency and limit the ability of agencies to overreach behind closed doors again in the future,” Grewal said.
Why Armstrong Called The Clarity Act A One-Yard-Line Moment
Brian Armstrong spent Tuesday on Capitol Hill meeting with senators and told CNBC’s Emily Wilkins that the Digital Asset Market Clarity Act represents years of bipartisan work that is now close to crossing the finish line before the August recess.
“The status quo is not going to work,” Armstrong said. “This bill is a dramatic benefit to the United States of America, and it’s time to get it over the finish line,” he added.
He called the White House’s recently reported ethics agreement a major puzzle piece that fell into place and said it meaningfully increased the odds of passage.
On what happens if the bill stalls, Armstrong said Coinbase would continue building in the U.S. under the current administration’s friendly regulators but acknowledged some operations might shift offshore where clearer rules already exist.
Where Does COIN Stand Technically?
COIN trades down 58.19% over the past 12 months, with the death cross formed in December 2025 keeping the longer-term structure bearish.
Moreover, the stock sits 23.1% below its 200-day SMA at $219.97 and 0.6% below its 50-day SMA at $170.24, turning that level into potential sell-the-rip resistance after Tuesday’s jump.
RSI at 53.31 reads neutral, pointing to a range-bound tape rather than a momentum-driven trend in either direction.
Key levels for COIN:
- $173 — resistance near the 50-day SMA zone where rebounds have stalled
- $139.5 — support near the 52-week low at $139.18 where buyers previously stepped in
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