Armstrong of Coinbase Claims USDC Rewards Ban Could Increase Profits but Harm US Customers

Coinbase CEO's Comments: Brian Armstrong stated that a stablecoin yield ban could make Coinbase more profitable but would ultimately harm American consumers and competitiveness.

Q4 Earnings Report: Coinbase reported a $667 million loss in its Q4 earnings, which fell short of analysts' expectations, leading to a more bullish outlook on regulatory developments.

Regulatory Optimism: Armstrong expressed optimism about potential constructive cryptocurrency legislation in the U.S., particularly regarding the proposed CLARITY Act, which aims to establish clearer market rules.

Market Sentiment: Despite recent losses, Coinbase's stock showed a slight increase, with retail sentiment around the stock shifting from extremely low to extremely high over the past days.