# Coinbase Watch Log News and developments about [[Coinbase]], newest first: earnings, its bank charter, lawsuits and regulators, leadership changes, deals, and the political money it gives. Each entry says what happened, why it matters and where the report came from. For the full picture, start with the [[Coinbase Dossier]]. What [[Brian Armstrong]] does in politics personally, and what officials and Congress do about crypto, is in the [[Crypto-Political Machine News Log]]. ## Log ### 2026-10-29 — Quarterly report: Armstrong, Ehrsam and Choi set up plans to sell up to about 13.6 million shares - The third-quarter 10-Q discloses three Rule 10b5-1 trading plans adopted during the quarter. CEO [[Brian Armstrong]] (Aug 12): up to 8,167,446 shares from option exercises, between about Nov 16, 2026 and Oct 22, 2027. Director [[Fred Ehrsam]] (Sept 4): up to 3,866,620 shares held by his trust, between about Dec 7, 2026 and June 7, 2027. President [[Emilie Choi]] (Sept 8): up to 1,560,453 shares plus future vesting awards. Each plan sells only if the stock reaches set price thresholds. - Why it matters: [[Coinbase Leadership]]. A 10b5-1 plan is a pre-set schedule that protects insiders from trading-on-information claims. At about $140 a share the three plans cover roughly $1.9B of stock. These are plans, not sales; actual sales will show up in Form 4 filings. - Source: [Coinbase Form 10-Q for Q3 2026, Item 5 (SEC EDGAR, filed 2026-10-29)](https://www.sec.gov/Archives/edgar/data/0001679788/000167978826000122/coin-20260930.htm); [Bitcoin Magazine, Oct 30, 2026](https://bitcoinmagazine.com/news/coinbase-falls-armstrong-sets-up-new-share) ### 2026-10-29 — Coinbase reports a $718.7M third-quarter profit, almost all of it from gains on its crypto holdings; New Jersey moves to drop its staking order - Revenue was $1.22B, down 35% from a year earlier. About $715M of the profit came from the rising value of crypto Coinbase holds; operating income was $61.7M. Stablecoin revenue was $307M. The same quarterly report disclosed that New Jersey told Coinbase on Oct 29 it intends to rescind its 2023 staking order. - Why it matters: [[Coinbase Financials]], [[Coinbase Regulatory File]]. The headline profit hides a shrinking trading business. New Jersey leaves four states with staking actions still open. - Source: [Q3 2026 earnings presentation](https://www.sec.gov/Archives/edgar/data/0001679788/000167978826000121/q326earningsdeck_vsec.htm); [Q3 2026 10-Q](https://www.sec.gov/Archives/edgar/data/0001679788/000167978826000122/coin-20260930.htm) ### 2026-10-15 — Coinbase-funded super PAC network's spending against Sherrod Brown reaches about $46.7M - An FEC filing by Defend American Jobs, a Fairshake affiliate, signed Oct 15, disclosed a $5.2M media buy opposing Brown in Ohio's Senate race, followed by about $1.95M more. Decrypt put the year's total against Brown at about $46.66M, well above the at least $30M the group had signaled. - Why it matters: [[Coinbase Political Spending]], [[OH-Sen-2026-Special]]. Coinbase is the network's largest funder, and Brown is its largest target of the cycle. - Source: [Decrypt, Oct 17, 2026](https://decrypt.co/381238/crypto-super-pac-fairshake-pours-millions-more-into-defeating-sherrod-brown) ### 2026-09-29 — Chief accounting officer Jennifer Jones announces her retirement - Jones will stay until a successor is named. - Why it matters: [[Coinbase Leadership]]. The third senior departure since July, after the chief legal officer and chief people officer. - Source: [8-K filed Oct 2, 2026](https://www.sec.gov/Archives/edgar/data/1679788/000167978826000113/coin-20260929.htm) ### 2026-09-01 — Former xAI and X finance chief Anthony Armstrong joins Coinbase's board - The board grew to ten. [[Anthony Armstrong]] was chief financial officer of Elon Musk's xAI and X, a senior adviser to the Department of Government Efficiency, and a Morgan Stanley vice chairman. He sits on the audit committee and is no relation to Brian Armstrong. - Why it matters: [[Coinbase Leadership]]. A direct link between Coinbase's board and Musk's companies and the DOGE effort. - Source: [8-K](https://www.sec.gov/Archives/edgar/data/1679788/000167978826000101/coin-20260901.htm); [The Block, Sep 2, 2026](https://theblock.co/news/business/2026-09-02-anthony-armstrong-former-cfo-elon-musk-xai-x-joins-coinbase-board-413405) ### 2026-07-30 — Judge rules for Coinbase on most claims in a customer class action - In the Underwood case in Manhattan federal court, the judge granted Coinbase summary judgment on most of the transactions at issue; claims over the rest continue. - Why it matters: [[Coinbase Regulatory File]]. - Source: [Q3 2026 10-Q](https://www.sec.gov/Archives/edgar/data/0001679788/000167978826000122/coin-20260930.htm) ### 2026-07-22 — Chief people officer Lawrence Brock steps down - Brock left effective Aug 17; Dominique Baillet is expected to succeed him. - Why it matters: [[Coinbase Leadership]]. - Source: [8-K](https://www.sec.gov/Archives/edgar/data/1679788/000167978826000080/coin-20260722.htm) ### 2026-07-08 — Chief legal officer Paul Grewal, who led the fight with the SEC, resigns - Grewal left the role July 31 and stayed on as an adviser through Oct 31. Molly Abraham, a vice president in the legal department, is expected to become general counsel. - Why it matters: [[Coinbase Leadership]], [[Coinbase Regulatory File]]. - Source: [8-K](https://www.sec.gov/Archives/edgar/data/1679788/000119312526299667/d74758d8k.htm) ### 2026-06-16 — Shareholders re-elect nine directors; former Solicitor General Paul Clement leaves the board - Clement had said in April that he would not stand for re-election. The annual meeting was held online. - Why it matters: [[Coinbase Leadership]]. With Armstrong holding about half the vote, director elections are not contested in practice. - Source: [8-K, annual meeting results](https://www.sec.gov/Archives/edgar/data/0001679788/000167978826000075/coin-20260616.htm) ### 2026-05-31 — Community bankers ask the OCC to rescind Coinbase's bank charter approval - The Independent Community Bankers of America, which had opposed the application, asked the regulator to withdraw its April conditional approval. - Why it matters: [[Coinbase Regulatory File]], [[OCC Charter Wave]]. - Source: [NCRC, Jun 2, 2026](https://ncrc.org/icba-asks-occ-to-rescind-coinbases-conditional-charter-approval/) ### 2026-05-05 — Coinbase cuts about 700 jobs, roughly 14% of its staff - The company cited market conditions and the "AI era" and expected $50–60M in charges. - Why it matters: [[Coinbase Financials]]. - Source: [8-K](https://www.sec.gov/Archives/edgar/data/1679788/000167978826000049/coin-20260505.htm) ### 2026-04-02 — Federal regulator gives conditional approval for Coinbase National Trust Company - The OCC's decision no. 1370 requires at least $60M of core capital, large liquidity reserves, compliance with the GENIUS Act, and opening within 18 months. The National Community Reinvestment Coalition condemned the approval the next day. - Why it matters: [[Coinbase Regulatory File]], [[OCC Charter Wave]]. Three years after the SEC sued it, Coinbase is on track to become a federally chartered bank. - Source: [OCC decision no. 1370](https://comptrollerofthecurrency.gov/topics/charters-and-licensing/interpretations-and-decisions/2026/cd1370.pdf); [NCRC, Apr 3, 2026](https://ncrc.org/ncrc-decries-the-occs-granting-of-national-trust-bank-charter-for-crypto-company-coinbase/) ### 2026-01-28 — The Coinbase-funded Fairshake network says it has more than $193M for the midterms - The total covers Fairshake and its two affiliates. - Why it matters: [[Coinbase Political Spending]], [[Fairshake PAC]]. More than the network spent in the entire 2024 cycle. - Source: [The Block](https://www.theblock.co/post/387514/crypto-pac-fairshake-amasses-war-chest-ahead-november-midterms) ### 2026-01-14 — Coinbase pulls its support for the Senate CLARITY Act hours before a committee vote - Armstrong said Coinbase would "rather have no bill than a bad bill," objecting mainly to limits on stablecoin rewards. The Senate Banking Committee postponed its vote, and the White House was reported to be angry. - Why it matters: [[Coinbase Regulatory File]], [[CLARITY Act]]. The industry's biggest political spender showed it could stall its own industry's top legislative priority. - Source: [The Block, Jan 17, 2026](https://www.theblock.co/post/386061/stablecoin-yield-fight-threatens-to-sink-clarity-act-as-coinbase-and-white-house-clash) ### 2025-12-17 — Coinbase launches stock trading and Kalshi-powered prediction markets - U.S. customers can now trade stocks and bet on event outcomes in the Coinbase app. - Why it matters: [[Coinbase Financials]], [[Prediction Markets]], [[Kalshi]]. - Source: [Fortune](https://fortune.com/2025/12/17/coinbase-announces-stock-trading-and-new-kalshi-based-prediction-markets) ### 2025-11-12 — Coinbase named as a donor to Trump's White House ballroom - The AP published a list of 37 donors; the amounts were not disclosed. - Why it matters: [[Coinbase Political Spending]], [[White House Ballroom Project]]. - Source: [AP list via WAVY](https://www.wavy.com/news/politics/ap-these-are-the-37-donors-helping-pay-for-trumps-300-million-white-house-ballroom/amp/) ### 2025-11-03 — Bank lobbies and a community group file objections to Coinbase's bank charter application - Coinbase applied in early October 2025. The Independent Community Bankers of America, the Bank Policy Institute and the National Community Reinvestment Coalition all filed objections in early November. - Why it matters: [[Coinbase Regulatory File]]. - Source: [American Banker](https://www.americanbanker.com/news/bank-trade-group-opposes-coinbase-charter-application); [NCRC comment letter](https://ncrc.org/ncrc-comment-in-opposition-to-coinbase-national-trust-charter-application/) ### 2025-10-08 — Coinbase closes its $176M purchase of Echo - Echo is a platform for raising money through crypto token sales. Coinbase paid $68M in cash and $108M in stock. - Why it matters: [[Coinbase Financials]]. - Source: [Q3 2026 10-Q](https://www.sec.gov/Archives/edgar/data/0001679788/000167978826000122/coin-20260930.htm) ### 2025-09-01 — Coinbase adds World Liberty Financial's WLFI token - Coinbase began supporting the Trump family company's governance token as it started trading. - Why it matters: [[World Liberty Financial]], [[Coinbase Political Spending]]. - Source: [Daily Hodl, Sep 1, 2025](https://dailyhodl.com/2025/09/01/coinbase-binance-upbit-and-others-add-support-for-trump-linked-wlfi-as-project-reaches-8000000000-market-cap/amp/) ### 2025-08-22 — Coinbase lists USD1, the Trump family's stablecoin - World Liberty Financial announced that its USD1 stablecoin was available on Coinbase. - Why it matters: [[USD1]], [[World Liberty Financial]]. - Source: [BusinessWire](https://www.businesswire.com/news/home/20250822028641/en/World-Liberty-Financial%E2%80%99s-Stablecoin-USD1-Now-Available-on-Coinbase) ### 2025-08-14 — Coinbase completes its purchase of the Deribit options exchange for $4.29B - The price rose from the roughly $2.9B announced in May because most of it was paid in Coinbase stock, which had risen. - Why it matters: [[Deribit]], [[Coinbase Financials]]. - Source: [Q3 2026 10-Q](https://www.sec.gov/Archives/edgar/data/0001679788/000167978826000122/coin-20260930.htm) ### 2025-07-30 — Coinbase and JPMorgan Chase announce a partnership - Chase customers will be able to link accounts and fund Coinbase purchases with Chase cards starting in 2026. - Why it matters: [[JPMorgan Chase]]. - Source: [The Block](https://www.theblock.co/post/364842/coinbase-jpmorgan-deal-usdc-crypto-exchange) ### 2025-05-19 — Coinbase joins the S&P 500 - It replaced Discover Financial, becoming the first company built around crypto trading in the index. - Why it matters: [[Coinbase Investors]]. Funds that track the index now hold Coinbase stock. - Source: [Nasdaq](https://www.nasdaq.com/press-release/coinbase-global-set-join-sp-500-2025-05-12) ### 2025-05-14 — Coinbase discloses a customer-data breach and refuses a $20M ransom - Criminals bribed overseas support contractors and employees to steal customer data, then demanded $20M. Coinbase refused and offered a $20M reward instead. The 2025 cost came to $345.2M. - Why it matters: [[Coinbase Regulatory File]]. - Source: [8-K, May 14, 2025](https://www.sec.gov/Archives/edgar/data/1679788/000167978825000094/coin-20250514.htm) ### 2025-05-08 — Coinbase agrees to buy Deribit for about $2.9B - Deribit is the largest exchange for crypto options. It was the biggest acquisition in the industry at the time. - Why it matters: [[Deribit]]. - Source: [The Block](https://www.theblock.co/post/353657/coinbase-agrees-to-acquire-crypto-derivatives-exchange-deribit-in-record-2-9-billion-deal) ### 2025-04-18 — Oregon's attorney general sues Coinbase - The suit, under state securities law, came less than two months after the SEC dropped its federal case. - Why it matters: [[Coinbase Regulatory File]]. States picking up cases the federal government dropped. - Source: [The Block](https://www.theblock.co/post/351262/oregon-attorney-general-to-sue-coinbase-months-after-sec-drops-case-exchange-says) ### 2025-02-27 — The SEC drops its lawsuit against Coinbase - The agency said the dismissal was "not on any assessment of the merits" but part of reforming its approach to crypto. - Why it matters: [[Coinbase Regulatory File]], [[SEC]]. The clearest payoff so far from the industry's 2024 election spending. - Source: [SEC press release 2025-47](https://sec.gov/newsroom/press-releases/2025-47) ### 2025-01-31 — Coinbase's $1M gift to Trump's inauguration is disclosed - Senate disclosures list Coinbase among corporate donors to the inaugural committee. - Why it matters: [[Coinbase Political Spending]], [[2025 Trump Inaugural Fund]]. - Source: [InvestmentNews](https://investmentnews.com/industry-news/robinhood-coinbase-among-trump-inauguration-committee-donors/259135) ### 2025-01-19 — Coinbase puts the $TRUMP memecoin on its listing roadmap - The token launched on Jan 17, three days before the inauguration; Coinbase and Binance both moved to list it. - Why it matters: [[$TRUMP Memecoin Universe]], [[Coinbase Political Spending]]. - Source: [CoinDesk](https://hotfix.coindesk.com/markets/2025/01/19/coinbase-binance-plan-to-list-donald-trumps-official-trump-token-after-its-phenomenal-debut) ### 2024-10-30 — Coinbase pledges $25M to Fairshake for the 2026 midterms - The pledge came a week before the 2024 election. Days later CNBC reported Coinbase had given more than $75M to the network in the 2024 cycle. - Why it matters: [[Coinbase Political Spending]], [[Fairshake PAC]]. - Source: [The Block, Oct 31, 2024](https://www.theblock.co/post/323881/coinbase-pledges-25-million-to-fairshake-pac-in-2026-midterms); [CNBC via NBC Chicago](https://www.nbcchicago.com/news/business/money-report/coinbase-a16z-and-others-pour-more-than-78-million-into-pro-crypto-pac-for-2026-election/3591274/) ### 2023-06-06 — The SEC sues Coinbase - The agency said Coinbase ran an unregistered exchange, broker and clearing agency. Several states took action against its staking program the same day. - Why it matters: [[Coinbase Regulatory File]]. - Source: [SEC press release 2025-47](https://sec.gov/newsroom/press-releases/2025-47) (summarizing the case) ## See also - [[Coinbase Dossier]] — the full dossier - [[Coinbase Calendar]] · [[Coinbase Events]]