"Win-Win-Win"

Coinbase CEO Brian Armstrong is sounding a bit more optimistic on the Clarity Act as of late. In a CNBC interview he said a “win-win-win” outcome is still on the table (crypto wins, banks win, consumers win) and even floated a path to getting it done by April. This renewed optimism has been reflected in the predictions markets. Despite the volatility, Polymarket odds for Clarity being signed this year is currently trading at ~71% – an improvement from the ~40% odds we saw after Armstrong abruptly pull Coinbase’s support saying, at the time, that Coinbase would "rather have no bill than a bad bill." Read more →

Coinbase's Base network is moving away from Optimism's OP Stack to build its own infrastructure. Base, which launched in 2023 and holds $3.85 billion in locked assets, says the shift will enable faster upgrades—roughly six per year. The OP token is down more than 25% since the announcement; the fate of a prior deal for up to 118 million OP tokens remains unclear. Read more →

Arkham Intelligence reports that UAE royal-linked mining operations hold 6,782 BTC worth $453.6 million, with an estimated $344 million in unrealized profit. The holdings have grown through domestic mining since 2022 with, notably, minimal selling over the past four months. Separately, Abu Dhabi's sovereign wealth funds disclosed a 46% increase in BlackRock's IBIT holdings to 12.7 million shares worth $630.6 million as of year-end. Read more →

Arkham data shows the UAE fourth in bitcoin holdings, only behind the US, the UK, and El Salvador.

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