Crypto Mixed as Coinbase Expands, Bitcoin Softens

Bitcoin ($BTC) declined -1.36% to $64,604.40 despite President Trump signing a historic peace memorandum with Iran to end hostilities, while stock futures rallied. $BTC retreated from $66,000 during overnight trading. Ethereum ($ETH) fell -1.61% to $1,755.43 as major cryptocurrencies failed to follow equity markets higher. An analyst characterized $BTC as being in a "fragile recovery phase" following the pullback. Exchange-held Bitcoin has declined to approximately 2.71 million BTC, levels last seen in May and previously in 2019, indicating tightening available supply as fewer coins remain available for sale. Market confidence in digital assets has risen gradually as institutional demand has continued.

Coinbase Global ($COIN) closed at $164.92, declining -2.57% from the prior trading day and falling more than the broader market. Despite the share price weakness, $COIN launched tokenized equities for non-US customers, providing users access to real tokenized stocks on its platform. The exchange simultaneously introduced an AI-powered investment advisor offering regulatory-compliant, personalized trade execution across supported assets. The rollout extends $COIN beyond its crypto focus into a broader, multi-asset marketplace that includes options, prediction markets, and tokenized real-world assets. Jefferies analysts noted the moves into trading, payments, and artificial intelligence could expand $COIN's addressable market, reinforcing its ambition to become a unified exchange for multiple asset classes.

Robinhood ($HOOD) received a 22% price-target increase to $110 from Argus analyst Stephen Biggar, who maintained a buy rating one day after the platform announced a 10% workforce reduction. The stock had surged 36% over the prior month. Reports indicated $HOOD may soon be allowed to facilitate trading in tokenized securities for US clients, a development that drove share price strength. Cathie Wood's ARK Innovation ETF sold 275,572 shares of $HOOD for a total value of $26,650,568 (approximately $26.7M) despite the stock's monthly gains. SpaceX allocated 30% of IPO shares to retail investors according to reports, potentially benefiting trading platforms.

Michael Saylor used an appearance at BTC Prague to address criticism over Strategy ($MSTR)'s recent Bitcoin sale and offered his theory for why $BTC has been lagging this year, speaking with Natalie Brunell. Cathie Wood predicted $BTC could reach $1.25 million as supply vanishes from exchanges. Bitcoin held on exchanges has fallen to around 2.71 million BTC, levels last seen in May and previously in 2019, meaning fewer coins are available for immediate sale. Market confidence in digital assets has risen gradually as institutional demand has continued over the years.

Trace Finance raised $32 million in Series A funding, adding fresh capital to a stablecoin infrastructure business as payment rails continue to expand. The financing round highlights growing institutional interest in stablecoin payment infrastructure as the sector matures beyond speculative trading into utility-focused applications.