Cardano Founder Criticizes Ripple CEO for Supporting Clarity Act Draft
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: Benzinga
- Regulatory Power Controversy: Cardano founder Charles Hoskinson criticized Ripple CEO Brad Garlinghouse for supporting the Clarity Act draft, arguing that it hands too much power to the SEC, potentially locking the crypto industry into a flawed regulatory framework that stifles innovation.
- Bill Impact Analysis: The Clarity Act defaults to classifying cryptocurrencies as securities, requiring projects to demonstrate sufficient decentralization to fall under CFTC oversight, which may force developers to seek SEC permission, thereby limiting free innovation.
- Industry Divisions Intensify: Coinbase CEO Brian Armstrong sided with Hoskinson, criticizing the bill for including a “de facto ban on tokenized equities” and potentially limiting rewards on stablecoins, indicating that the industry would prefer no bill over one that restricts innovation.
- Vote Delay Implications: The Senate Banking Committee postponed its vote on the Clarity Act due to backlash from industry leaders, and while this delay allows opponents time to lobby for changes, it risks the bill losing momentum or being further weakened.
Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for COIN is 361.63 USD with a low forecast of 230.00 USD and a high forecast of 440.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 226.930
Low
230.00
Averages
361.63
High
440.00
Current: 226.930
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the cryptoeconomy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
