Coinbase CEO Brian Armstrong met with Senators Cynthia Lummis and Kirsten Gillibrand on Capitol Hill to push for bipartisan stablecoin legislation.
Coinbase Global Inc (NASDAQ: COIN) stock has been on investors’ radar recently following a sharp 30% rally over the past week, on the backdrop of strong Q1 2025 results, and the recent acquisition of Deribit. On the other hand, company CEO Brian Armstrong has been actively pushing for the Stablecoin Act and “meaningful laws” surrounding its use.
Coinbase CEO Brian Armstrong Pushes for Stablecoin Laws
Despite the US Congress failing to pass the GENIUS Act earlier this month, Coinbase CEO Brian Armstrong continues to stay in touch with lawmakers to bring a “meaningful” stablecoin legislation.
Coinbase CEO Brian Armstrong met with lawmakers on Capitol Hill to discuss upcoming cryptocurrency regulations, signaling optimism about progress on stablecoin and market structure legislation.
Armstrong met with crypto-friendly lawmakers, Senators Cynthia Lummis and Kirsten Gillibrand, while stressing the bipartisan momentum in the crypto regulatory landscape. “We’re on the cusp of meaningful laws for stablecoins and building bipartisan momentum for market structure legislation,” Armstrong noted, while expressing hope for legislative breakthroughs in the near future.
Furthermore, following the recent $2.9 billion acquisition of derivatives trading platform Deribit, the Coinbase CEO said that they would continue to make more mergers and acquisitions as opportunities arrive. “We are always looking at M&A opportunities,” said Armstrong on Bloomberg Television on May 14.
However, he stated that the company would be cautious in its approach to buying new forms. Armstrong said:
“We are looking at acquisition opportunities; doesn’t mean we swing at every pitch. We want it to be the right opportunity.”
COIN Share Price on Radar Following S&P 500 Incusion
Coinbase became the first crypto firm to make an entry into the heavyweight S&P 500 index, marking a pivotal moment for the company. As a result, COIN stock has been on investors’ radar with 30% gains over the past week, and is currently trading at $263.
Inclusion in the S&P 500 is likely to drive increased buying activity from index funds and attract greater interest from non-index funds as well that use the S&P 500 as a performance benchmark.
Oppenheimer analysts have given an outperform rating to the stock, while setting its target price to $293.
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