COIN fell more than 6% overnight, but on the Base chain, trading volume for its stock tokens has already accumulated to $124.8 million.
This contrast is exactly where the market gets most tangled: Coinbase is shifting from being just an exchange to becoming an RWA on-chain gateway.
Three signals:
On the Base chain, NVDA stock tokens alone account for $71.6 million, and legitimate use cases for AI concept stocks are starting to go on-chain.
Brian Armstrong has been repeatedly calling for the “Clarity Act” and stock perpetual contracts, aiming to make traditional finance connect more smoothly.
After four months of negative premium, Coinbase is starting to see institutional buying quietly return.
But California has just passed a meme coin bill—tighter regulation directly dragged down COIN’s stock price. Innovation and compliance are being pulled against each other along the same line.
If Coinbase acts both as the issuer of tokenized stocks and as the judge that audits token quality, can it keep both hats on at the same time?
This contrast is exactly where the market gets most tangled: Coinbase is shifting from being just an exchange to becoming an RWA on-chain gateway.
Three signals:
On the Base chain, NVDA stock tokens alone account for $71.6 million, and legitimate use cases for AI concept stocks are starting to go on-chain.
Brian Armstrong has been repeatedly calling for the “Clarity Act” and stock perpetual contracts, aiming to make traditional finance connect more smoothly.
After four months of negative premium, Coinbase is starting to see institutional buying quietly return.
But California has just passed a meme coin bill—tighter regulation directly dragged down COIN’s stock price. Innovation and compliance are being pulled against each other along the same line.
If Coinbase acts both as the issuer of tokenized stocks and as the judge that audits token quality, can it keep both hats on at the same time?