Coinbase's shares fell 15.3% on Thursday, marking their worst one-day performance since July 2022. This sharp decline followed a third-quarter earnings report that fell short of analysts' expectations, creating a wave of concern in the market.

Key Highlights:

Earnings Miss: Coinbase reported net revenue of $1.13 billion for Q3, down from $1.38 billion in Q2, and well below Bloomberg’s forecast of $112.2 million. This earnings miss led to a significant drop in Coinbase’s stock, closing at $179.25 and bringing its year-to-date gains to a modest 3%.

Market Impact: The overall market also took a hit, with the Nasdaq Composite and S&P 500 declining by 2.76% and 1.86% respectively, reflecting broader pressures on tech and financial stocks.

Stock Buyback Plan: Despite the disappointing earnings, Coinbase’s board approved a $1 billion stock buyback, demonstrating confidence in the company's future. This move aims to boost shareholder value amid a more favorable regulatory climate for crypto in the U.S.

A Look Ahead:

In a letter to shareholders, Coinbase expressed optimism about the future, noting that both presidential candidates and lawmakers across the political spectrum have shown growing support for cryptocurrency—marking a positive shift from past attitudes. Coinbase also announced a $25 million donation to the super PAC Fairshake to back pro-crypto candidates for the 2026 midterm elections, highlighting its commitment to the industry's future.

Bottom Line:

While Coinbase’s strategic initiatives, including the buyback and political involvement, signal confidence, the earnings miss underscores the volatility and competitive challenges the company faces. As Coinbase navigates these challenges and prepares for potential regulatory opportunities, its performance will remain under close scrutiny by both investors and market observers.

Stay tuned for further updates on Coinbase's journey in the rapidly evolving crypto landscape.

The US elections are just around the corner, and the stakes couldn't be higher! As we gear up for a pivotal moment in history, many are wondering what the outcome could mean for the economy and the crypto market.
In your opinion, who do you want to see win? Are you leaning toward Trump and his pro-business agenda, which could potentially boost market confidence?
Let’s discuss how different candidates might influence the future of crypto and finance!
#USElections #CryptoPolitics
#USJoblessClaimsDip #BTC67KRebound #Write2Earn!
$BNB

The cryptocurrency industry has set its sights on the U.S. Congress, planning to spend a massive $160 million through super PACs (political action committees) to support pro-crypto candidates and shape favorable legislation.
The Growing Political Power of the Crypto Industry
The political influence of the crypto sector in Congress is rapidly increasing. This shift could impact up to 13 pro-crypto candidates who may win seats in the House of Representatives in 2024. These candidates come from both sides of the political spectrum, from progressive Democrats who see digital assets as a way to promote financial inclusion, to Republicans who oppose the Biden administration’s crypto policies and promote the technology as key to "economic freedom."

In the Senate, a wave of pro-crypto lawmakers is also expected, with notable candidates like Adam Schiff (D-California) and John Curtis (R-Utah) likely to secure seats. With most Republicans in key Senate battlegrounds supporting cryptocurrency, any gains by the GOP would expand this base.
A Crypto-Friendly Congress in 2024
Regardless of the outcome of the presidential election, 2024 could bring the most crypto-friendly Congress to date. This could be exactly what the crypto industry needs to remove regulatory barriers that hinder broader adoption. Although only a small portion of the U.S. population currently uses #Cryptocurrencies , crypto leaders are investing significant sums into the political system to raise awareness among lawmakers.
Rising Political Spending by the Crypto Industry Ahead of 2024 Elections
According to Jordan Libowitz from Citizens for Responsibility and Ethics in Washington (CREW), the crypto industry has dramatically increased its political spending. From spending very little on campaigns, it has become one of the biggest spenders in this election cycle, demonstrating its rapidly growing influence on shaping U.S. policy.
As the 2024 elections approach, the crypto industry is positioning itself as a major political player, with super PACs spending large amounts to support pro-crypto candidates. For instance, Bitcoin Voters PAC recently launched an ad campaign in support of presidential candidate Donald Trump.
Significant Investments in Key Races
The crypto industry has invested around $31.5 million to support Democratic candidates in the House, targeting key races across the country. Among the major investments are $2.6 million for Shomari Figures in Alabama, $2.2 million for Rep. Don Davis in North Carolina, and $2 million for Rep. Yadira Caraveo from Colorado. Other recipients of substantial support include Rep. Pat Ryan from New York and Rep. Mary Peltola from Alaska.
Supporting Innovation and Legislative Changes
The crypto industry is spending large amounts in both the House and Senate, hoping to elect candidates who favor less restrictive regulations that promote innovation. Senate candidates like Ruben Gallego from Arizona and Elissa Slotkin from Michigan have each received at least $10 million in support from pro-crypto super PACs.
Recently, it was revealed that Ripple co-founder Chris Larsen made three separate donations totaling nearly $10 million to Future Forward, a super PAC supporting Kamala Harris.
Gaining Political Influence
This growing influence is particularly important on the Republican side, where figures like Michelle Steel from California and Bernie Moreno from Ohio have received support from the crypto industry. For Moreno, one-third of his financial backing comes from crypto donors, and his success in this race could remove one of crypto’s harshest critics, Senator Sherrod Brown.
Both Democrats and Republicans see these candidates as progressive supporters who would back the industry’s push for more open regulations and innovation in the digital asset space.
#CryptoPolitics , #CryptoNews🚀🔥 , #cryptoregulation , #BTC☀
Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

Donations from the U.S. crypto industry have reached record levels, surpassing $190 million as the election cycle approaches its final stretch, reported CNBC on October 20.
This increase is significant compared to previous election cycles, with nearly a thirteenfold jump from the $15 million spent in 2020.
Impact on Key Congressional and Senate Races
The crypto industry has started to heavily invest in key congressional and senate races with the goal of shaping future U.S. regulatory policy. Data from the Federal Election Commission (FEC) shows that crypto companies have contributed nearly half of all corporate donations, with more than $130 million directed toward congressional races, including primaries. This highlights the industry's effort to strengthen pro-crypto representation.
Influence on Both Political Parties
The super political action committee (PAC) Fairshake, known for its support of cryptocurrency and blockchain policy, is among the leading spenders. In September, it distributed nearly $29 million, with $20 million of that going to two affiliated PACs: $15 million to PAC Defend American Jobs, supporting Republicans, and $5 million to Protect Progress, which favors Democrats.
Fairshake also directed $8.8 million to competitive races in New York, Nevada, and California. Republican candidates David G. Valadao and Michael Garcia from Southern California received $1.3 million and $1 million, respectively, for their tight races.
While more funds have been directed to Democrats in recent months, donations remain fairly balanced between both parties. In September, Democrats received $6.2 million, while Republicans received $2.3 million.
California as a Key State
California is a critical state for the crypto industry due to its high concentration of blockchain companies. The political landscape of this state will be key for future regulatory developments, and the industry's donations reflect this. Analyst James Delmore told CNBC that supporting candidates in California’s districts is crucial, not only to ensure pro-crypto policymakers but also to maintain California’s position as a hub for the crypto industry.
In addition to California, donations have been directed to key states like New York, Nevada, and Illinois. Protect Progress has also invested over $10 million in supporting Democratic Senate candidates in Arizona and Michigan.
Long-term Strategy of the Crypto Industry
As the crypto industry continues to grow in political influence, the large donations flowing into key races underscore its long-term strategy to shape the future regulatory environment in the U.S.
#CryptoPolitics , #CryptoNews🚀🔥 , #Election2024 , #CryptoIndustry , #Debate2024

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

When President Nayib Bukele announced in 2021 that El Salvador would adopt Bitcoin as legal tender, it shocked the world 🌐. But was this revolutionary decision really about economic innovation, or just a publicity stunt? 🤔
According to TIME Magazine journalist Vera Bergengruen, it may have been more about grabbing headlines than helping the people. While crypto enthusiasts cheered, many Salvadorans were left confused and unprepared. The rollout was plagued with technical issues, and even a $30 Chivo wallet bonus wasn’t enough to drive adoption rates. 😅
Yet, Bukele’s popularity at home has skyrocketed 📈, not for his Bitcoin strategy, but for his hardline stance on crime and corruption. His crackdown on gangs has brought down the homicide rate significantly, earning him admiration from both his citizens and certain American politicians who see him as a bold, anti-establishment leader. 💪
But with power comes controversy. Bukele’s growing control over El Salvador’s media and judiciary is raising serious concerns about the country’s democratic future. Some say he’s leading the country towards authoritarianism, while his fans praise his results-oriented leadership. ⚖️
And it’s not just El Salvador—Argentina’s Javier Milei is making waves with his radical libertarian ideas, aiming to fix the country’s economic crisis. Like Bukele, Milei’s outsider appeal has drawn frustrated voters and caught the attention of the U.S. political landscape. 🇦🇷
With so many shifts in Latin America, how will the future of Bitcoin adoption and crypto policies shape global economies? 🌍💸
#TON #CryptoPolitics #BinanceSquareFamily #BTC☀ #Write2Earn!