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Benchmark has lowered its second-quarter performance expectations for Coinbase ahead of the earnings report next week, citing weak trading activity in the cryptocurrency market, but still maintains a "Buy" rating and a target price of $270. Based on Coinbase's stock price of about $172 on Wednesday, this target price corresponds to an upside potential of approximately 57%.Benchmark analyst Mark Palmer has revised Coinbase's second-quarter revenue expectation from $1.51 billion to $1.38 billion and has lowered the full-year revenue expectation for 2026 from $6.33 billion to $6 billion. The trading volume on centralized exchanges in the second quarter has decreased by about 28%, and the total market capitalization of the cryptocurrency market has dropped by about 13%. The firm expects Coinbase's trading revenue to decline by more than 5%.However, the market showed initial signs of stabilization in June, with spot trading volume exceeding $1 trillion for the first time since March, which may somewhat alleviate the weak performance in the second quarter.Benchmark believes that if the CLARITY Act is ultimately passed, it could become a more significant catalyst for the stock price than quarterly performance, with Coinbase potentially being one of the main beneficiaries of the act. Trump has previously agreed to the relevant ethical provisions, removing a key obstacle to the advancement of the bill.

According to The Wall Street Journal, Coinbase Chief Legal Officer Paul Grewal stated that Coinbase has reached a settlement with the U.S. Securities and Exchange Commission regarding a Freedom of Information Act lawsuit, with the SEC agreeing to pay $150,000 and amend its record-keeping policies. The lawsuit revealed that the SEC lost nearly a year’s worth of communications from former Chairman Gary Gensler and other senior officials during the peak enforcement period in the cryptocurrency industry.Coinbase had previously requested documents from the SEC regarding how it applies securities laws to digital assets, but the request was denied, leading to a lawsuit that received court support. The SEC claimed that some text messages were lost due to an automatic data deletion process. Grewal pointed out that the SEC has imposed billions of dollars in fines on financial institutions for similar record-keeping issues.In February of this year, Coinbase also reached a settlement with the Federal Deposit Insurance Corporation regarding another Freedom of Information Act lawsuit. Coinbase stated that this lawsuit revealed that the FDIC had instructed nearly twenty banks to suspend cryptocurrency-related activities since 2022, which subsequently led to congressional hearings and resulted in a court ruling that the FDIC violated federal law.Grewal stated that both lawsuits revolve around government transparency and due process, emphasizing that the American public has the right to know whether regulatory agencies are restricting legitimate cryptocurrency businesses from accessing banking services through non-public means.

According to The Block, the on-chain infrastructure layer SwarmBase, aimed at autonomous AI agents, has announced the completion of a $7 million financing round. This round was co-invested by Castrum Capital, M2M Capital, Notch Ventures, and Becker Ventures. Among them, Castrum Capital contributed an additional $4 million investment.It is reported that SwarmBase is a full-stack on-chain infrastructure protocol for autonomous AI agents. The platform provides core foundational modules such as identity, reputation, coordination, and transactions, enabling AI agents to operate independently through audited smart contracts.The funds raised in this round will primarily be used for the development of the SwarmBase protocol and ecological expansion, as well as preparations for the upcoming Token TGE. Castrum Capital stated that SwarmBase is well-positioned to lead the next wave of AI agents.

According to Onchain Lens monitoring, the Hyperliquid whale address starting with 0x8177b deposited 100,000 wstHYPE and 103,000 stHYPE into HyperLend as collateral, and borrowed a total of 2 million USDC in two transactions (500,000 and 1.5 million), and then transferred the borrowed 2 million USDC to Coinbase.

According to Onchain Lens monitoring, a newly created wallet withdrew 74,900 HYPE from Galaxy Digital, worth approximately 4.39 million USD, and transferred it to Coinbase, suspected to be for sale.

According to Bitcoin Magazine, the head of Coinbase Canada stated that the company is pushing to expand its business footprint in Canada, aiming to create a comprehensive exchange covering crypto assets, tokenized stocks, and prediction markets.The plan intends to leverage blockchain technology to provide a more efficient, round-the-clock trading experience, and Coinbase is currently coordinating with Canadian regulators regarding the launch of related products.

According to monitoring by Onchain Lens, the Morgan Stanley Bitcoin Trust ETF withdrew 106.04 bitcoins from Coinbase Prime, worth approximately 7.01 million dollars.

According to Onchain Lens monitoring, BlackRock has increased its holdings again, withdrawing 1789.65 BTC from Coinbase Prime to its IBIT ETF wallet, valued at approximately 119 million dollars.

The Binance contract will automatically settle the AERGOUSDT U-based perpetual contract on July 24, 2026, at 14:30. After the settlement is completed, this trading pair will be delisted.Users will be unable to submit new non-reduction orders on July 24, 2026, at 14:00. It is recommended that users close their positions on their own before trading stops to avoid automatic liquidation of positions.

According to official news, Grayscale announced the appointment of Sebastian Pulido as the head of on-chain asset management, responsible for leading the company's on-chain product strategy.Sebastian has worked at Aave Labs, Goldman Sachs, and the Kinexys team at JPMorgan, possessing extensive experience in institutional finance and the digital asset sector.

According to a report by Reuters, the Chief Minister of Johor, Malaysia, stated on Tuesday that the Johor state government has noted and fully supports the decision made at the special meeting of the municipal hall: to revoke the business license of NS0 Malaysia Sdn. Bhd. (Network School) located in Forest City, and to order it to cease all activities starting from July 22, 2026.He stated that this decision was made in accordance with due process and relevant legal provisions, and was ultimately decided after a comprehensive review of the law enforcement inspection report, investigation results, and the statements submitted by the company.Network School had previously attracted widespread attention due to allegations on social media. Some netizens claimed that the project accepted participants from Israel, while Malaysia has not established diplomatic relations with Israel.

Coinbase International Exchange has launched S&P 500 index perpetual contracts, supporting 24/7 uninterrupted trading. Currently available to select non-U.S. qualified users, the service is provided by Coinbase Bermuda Ltd, which holds a Class F license from the Bermuda Monetary Authority.

The Binance futures platform will launch the SHAZUSDT perpetual contract on July 21 at 17:00, the SOFIUSDT perpetual contract at 17:05, the PANWUSDT perpetual contract at 17:10, and the PENGUSDT perpetual contract at 17:15.Users can pay attention to subsequent announcements for more information.

Coinbase CEO Brian Armstrong posted on X in response to the recent controversy sparked by his profile picture change and the voices from the Base community feeling insufficiently supported. Armstrong made it clear that his personal X account should not be viewed as investment advice or a signal source for individual tokens; he simply shares content online that he finds interesting or funny, and he may not be aware of whether the content relates to a specific token or project. His posts and profile picture do not constitute endorsement or commitment.Armstrong pointed out that Base is committed to building financial services infrastructure, covering tokenized stocks, lending protocols, stablecoin payments, and even meme coin trading. He supports economic freedom and user freedom to trade, but treating his X account as a trading signal is a risk users must bear, which also goes against his own wishes. Regarding support from the Base team or Coinbase, Armstrong stated that many tokens cannot be listed on centralized exchanges due to compliance and regulatory reasons, "If you hope Jesse or I can help pump or call certain tokens, we will not do that."The ways Coinbase has committed to support include hosting offline Base Batches events, providing funding to promising developers, investing in quality projects through Coinbase Ventures and the Base ecosystem fund, and regularly integrating promising Base DeFi protocols into Coinbase products. Currently, the post has over 1.05 million views.

According to Edaily, the South Korean government will hold a forum hosted by Deputy Prime Minister and Minister of Economy and Finance Choi Sang-mok to officially launch the legislative discussion on the "Basic Law on Digital Assets (Phase Two)," focusing on the regulation of stablecoins. This forum is the first stablecoin legislative forum organized and hosted by the government. The South Korean government and the ruling Democratic Party plan to push for the passage of the bill within this year.In the economic growth strategy announced on July 14, 2026, the authorities stated that they plan to advance the legislation of the "Basic Law on Digital Assets" in the second half of the year, segment the digital asset industry, establish a regulatory framework for business conduct, and lay a legal foundation for the regulation of stablecoins.

Base co-founder Jesse Pollak stated that Robinhood Chain has made some progress in tokenized stocks within the Ethereum virtual machine environment, while Base is relatively lagging in this direction.He expressed dissatisfaction with this but mentioned that Base is close to resolving this issue together with Coinbase.

According to Jinshi reports, the Iranian Revolutionary Guard has launched an attack on the U.S. military facilities at the Ahmed Al-Jabir base located in Kuwait.

Base announced that Cobalt will be launched in September, with key features including Sponsorship, Batch Calls, and Session Keys.Among them, Sponsorship allows applications to sponsor transaction fees for users, achieving free Gas; Batch Calls support bundling multiple transactions into one, reducing operational steps; Session Keys allow users to authorize applications to sign transactions on their behalf within a specific scope, reducing repeated authorizations.