Coinbase Institutional strategist John D’Agostino said Coinbase is economically stronger after the Clarity Act failed; its stablecoin yield rose the day after the no vote. He said coordinated SEC-CFTC rules and adoption can partly fill the legislative gap.
D’Agostino said the SEC and CFTC issued a flurry of rules and guidelines before the no vote, and called their cooperation key. He described the bill’s failure as “super disappointing,” but said rules and adoption were almost as good as a law in its absence.
D’Agostino said Coinbase would have given up its stronger economic position for a market-structure law. He credited the company’s founder, Brian, for backing legislation he said could benefit consumers and crypto, even if it was not necessarily best for Coinbase.
