Coinbase CEO Sees ‘Business as Usual’ If Crypto Bill Misses August Recess

Coinbase CEO Brian Armstrong told analysts on the company's second-quarter earnings call Thursday that the exchange would handle a delay on the CLARITY Act without disruption.

“I think in that world, it’s actually kind of just business as usual for Coinbase, for a few reasons,” Armstrong said. “I think Coinbase would be fine.”

Armstrong pointed to the exchange's existing compliance practices and the willingness of SEC Chair Paul Atkins and CFTC Commissioner Michael Selig to write their own rules if Congress does not act. “They’re in a bit of a holding pattern, waiting to see what happens with CLARITY,” he said. “If it doesn’t go through for some reason, then they would come out with their own rules.”

Still, Armstrong remained optimistic about the bill's chances before the Senate recesses Aug. 7. “Having a deadline or a forcing function with this August recess for the Senate is actually a good thing,” he said. “It tends to get people to the table at the last minute.”

If the bill does not clear before recess, September becomes the next realistic window. A failed September vote likely pushes the legislation past the November midterms.

JPMorgan analysts put CLARITY Act passage odds at 37%. Polymarket bettors assign a 31% chance.

Coinbase reported $1.22 billion in second-quarter revenue, missing the Street consensus estimate of $1.32 billion. The company posted a loss of 40 cents per share, wider than the expected 11-cent loss. Transaction revenue fell 21% year-over-year to $599 million.

Shares fell 5.12% in after-hours trading after closing 2.18% higher at $163.58 in the regular session. The stock is down 27% year-to-date.

The COIN stock carries an Alpha Score of 29 out of 100, a Weak label in AlphaScala's ranking, within the Financials sector.

Sen. Elizabeth Warren (D-Mass.) said Thursday that President Donald Trump is profiting from his time in office, citing a voter survey on his cryptocurrency-related income.