Coinbase Community Guide

Crypto Support & Blockchain Awareness | Helping users navigate Coinbase account access, transaction issues, withdrawals & security best practices.

[Lorenzo Valente @LorenzoARK]

Every year we get our consortium style initiative around a stablecoin, we have seen this with Diem, Global dollar and now Open USD. While the set of players here is obviously potent, I remain highly skeptical any of these initiatives can hit scale.

A few thoughts on OpenUSD:

1. Liquidity and the cold-start problem. USDC and USDT have massive network effects across exchanges, payment processors, and brokers. This is always repeated but it's true, there are no BTC/sofiUSD pairs to trade on any of these exchanges or markets. These are not stableocin market makers and participants are willing to hold in size, as you can’t really use them anywhere.
The fair counter is that crypto markets will be far smaller than remittances or equities/bonds. Probably true, I suspect in the medium term, but those markets are still converging on the same stablecoins. Hyperliquid just struck a massive deal with USDC/Coinbase. Every tokenization initiative so far is built around the incumbents too.

2. A consortium of 500 rivals has no precedent for working. The pace of decision-making across 500 competitors is going to be glacial. Not everyone gets a board seat at Open Standard I imagine, so what happens when decisions cut against some of the players? Circle and Tether ship whatever they want, whenever they want, with zero commitment to anyone.

3. Regulatory and antitrust risk at scale. Circle and Tether are willing to absorb enormous pressure, they have being doing so for years. They hold hundreds of licenses they can use to arbitrage markets, Yes GENIUS act gave a lot of breathing room and clarity, but oversees, this is not the same story. The moment this gets hard under regulatory pressure, I think a lot of these partners just walk away. And a bloc of the largest banks and card networks jointly issuing money is an obvious antitrust target.

4. The "socialist" economics starve the issuer. Passing reserve revenue back to partners sounds great in practice, but what does Open Standard actually operate on? Little to no retained capital. People forget Circle doesn't just have marketplace/exchange partnerships; it funds a whole web of rebates across on/off ramps, stablecoin settlement, OTC desks, and more, with each deal being somewhat bespoke depending not he partner. Who funds that at Open Standard? Who decides which deals, on what terms, especially when the counterparty is a rival of an existing member?
Circle GAAP Opex for 2025 were 900M USD, if you strip out one time cost and IPO related cost, its adjusted OPEX is closer to 500M annually. Let’s say open Standard gets 25 bips, which is what other consortium did, At 10B of supply, open standard is making 25M a year… You don’t fund much with that…. You need to become huge very quickly.

5. The announcement is basically a giant LOI. Read the quotes: BlackRock calls it "a constructive step," BNY "looks forward to exploring ways to support," others say it's "interesting." Meanwhile the partners are backing rivals: Stripe owns Bridge and has its own stack, Coinbase is wedded to USDC, banks are building their own deposit tokens, and the card networks support every token out there. They'll hedge across all of them. Distribution only matters if it's exclusive — and it clearly won't be.

6. The "mint/redeem fees are a problem" claim is wrong. In practice every large institution minting and redeeming through Circle and Tether already gets big rebates. The real cost of moving money is FX, not mint/redeem and there's no moat there, because anyone can just match free mint/redeem.
All in all: one to monitor, but I'm deeply skeptical that an organization that looks like a DAO of 500 companies can move fast enough to matter long term. Who decides go-to-market? Capital allocation? Anything?

Ultimately this reminds me of the DAO experiment. The pitch was identical: no single owner, "neutral" governance, aligned incentives, decisions made collectively for the good of the network. In practice DAOs almost universally failed at the thing that actually matters: shipping. Governance turned into endless forum debates and token-weighted voting where nothing decisive got done, capital sat idle because no one could agree how to deploy it, and the projects that won were the ones with a clear owner willing to move fast and take risk. "Owned by everyone" almost always means accountable to no one. Open Standard is a DAO of competitors that are not really committed to anything, and I'd bet on the two operators who can ship unilaterally over a committee that has to ask 500 rivals for permission.

[Squawk Box @SquawkCNBC]

Head of Institutional Strategy at Coinbase @johnjdagostino breaks down the recent declines in $BTC & the road ahead for crypto: https://t.co/l1UL5sjbbF

[Sam @0xCryptoSam]

$CRCL is down 15% this morning because a consortium of 140+ companies including Stripe, Visa, Shopify, and Coinbase just launched a USDC competitor called OUSD.

The benefits of OUSD > USDC include:

- Reserve yield shared by default
- Credibly neutral
- No mint or redemption fees

OUSD is essentially the next generation of Bridge's USDB white-labeled stablecoin, but now it inhereits the distribution of tech companies, payment networks, e-commerce platforms, and banks, which will all likely show preferential treatment to OUSD > USDC since they earn on the reserve yield.

This will either force Circle to continue their revenue share agreements, find new distributors for USDC (although nearly everyone interested in stablecoins today is backing OUSD), or focus more on other, less profitable parts of the stablecoin stack (like Arc).

Whatever way you cut it, this seems bearish for Circle.

[STEPH IS CRYPTO @Steph_iscrypto]

🚨JUST IN: 🇺🇸Coinbase urges Congress to send the $30,000,000,000,000 CLARITY Act to the President’s desk now.

“We’re ready to get this done immediately”

[🇬🇧 ChartNerd 📊 @ChartNerdTA]

Ohh.. hang on a minute...
Ripple is in the picture 👀

[Cognac(꼬냑) @supernovajunn]

https://t.co/FDTDLWlVnr

[Jason Huang @Jhy256]

We flagged $MSTR before it cracked. Now we're doing the opposite work on $CRCL — building a watch list while the market panics.
Circle fell ~14% yesterday when Stripe, Coinbase, Mastercard, Visa, BlackRock and 140+ others launched a consortium stablecoin to bury it.
We read it the other way. You don't assemble 140 of the world's biggest companies to split a small market — you do it because the prize is enormous. The whole stablecoin pie is still only ~$317B, and Tether alone reportedly earns ~$85M of profit per employee. Competition here doesn't shrink the pie; it grows it.
And every time giants gang up to build one shared thing — Libra, https://t.co/iUuOKpKFkH, Marco Polo, the retailers' war on Apple Pay — it tends to die of misaligned incentives. Everybody owns it, nobody drives it.
There are no good or bad assets, only good and bad prices. Circle near $299 was a bad asset. Circle back near its IPO-day valuation, on a business that has since doubled, is a different conversation. We're not naming a target and we're not buying today — we're building the list, because Circle is the only liquid public stock that expresses this thesis, and long-term the price comes down to execution we can watch quarter by quarter.
Good businesses at fearful prices are how the best positions begin.
For information only. Not an offer, solicitation, or recommendation. NDV (@NextGen_Venture ) is a Singapore-based fund investing professionally in digital-asset equities; NDV and its principals may hold positions in the securities mentioned.

[jesse.base.eth @jessepollak]

20K new APIs available via x402

[Alexander Lorenzo @alexelorenzo]

Crypto Is Quietly Taking Over The Plumbing of the Internet

Amazon just turned a quarter of the internet into a stablecoin toll booth, and almost nobody noticed.

Everything we break down lives inside the community, link in bio, one dollar a month.

The real adoption is not happening where people are looking. It is being built into the payment layer for AI agents. Right now websites have a problem: AI bots crawl their articles, data, and APIs, and the publisher can either block them or give it all away for free.

On June 15, Coinbase and AWS changed that. Publishers on AWS CloudFront and WAF, which sit behind roughly a quarter of the internet, can now charge AI agents through a protocol called x402. When a bot requests content, AWS sends back an HTTP 402, payment required, with the price and the wallet. The agent pays in USDC on Base or Solana, Coinbase settles it, and the content is served, all inside one normal web request. Not a credit card swipe. A machine paying a machine.

Then Mastercard went further. It launched Agent Pay for Machines for high volume, low value, instant payments between software, and added stablecoin settlement across USDC, PayPal USD, Paxos coins, Ripple's RLUSD, and SoFi USD, running on eight chains including Base, Ethereum, Solana, and XRP.

Put it together. AWS is the place where AI agents spend. Mastercard is the trust and identity layer. Coinbase and stablecoins are the money in between. This is not crypto being sold as an investment. This is crypto disappearing into the plumbing of the internet itself.

What it means for your money: the dollars moving through the machines of the internet are becoming stablecoins, quietly, at massive scale. The people who understand where adoption is actually happening are the ones positioned for it. Learn how this layer works before it is the default.

Follow for the moves the news skips

[Aastha @aastha_mhaske]

BREAKING: COINBASE JUST ANNIUNCED LIVE ON CNBC THAT 40 COUNTRIES ARE NOW BUYING BITCOIN FOR THEIR NATIONAL RESERVES

THEY KNOW WHAT’S COMING 🚀

[Seth @seth_fin]

🚨 BREAKING: Coinbase just dropped on CNBC over 40 countries are now buying Bitcoin for their national reserves.

That's 20%+ of the world stacking sats.

[Mr.₿itcoin @coinspace_]

【速報】

Visa、Mastercard、BlackRock、Coinbaseなどが共同でステーブルコイン $OUSD を発行へ

[Xaif Crypto @Xaif_Crypto]

Whale outflows on Coinbase just jumped from 10% to 25.7% in two weeks 👀 that's transfers above 1M XRP more than doubling their share… and Binance is already sitting near 50% whale-dominated

this kind of accumulation off exchanges is that not what we've been telling you about the overtake moment?

[Midas @DeFiMidas]

🚨BREAKING:

COINBASE CEO BRIAN ARMSTRONG SAYS BITCOIN LIKELY BOTTOMED AROUND $60,000

HE ADDED THAT HE'S STILL AS BULLISH AS EVER ON BTC'S LONG-TERM FUTURE

“I'M LONG BITCOIN, JUST LIKE ALWAYS”

[dori @dori_coin]

Really Interesting. $OUSD is launching soon. It’s a massive coalition of around 140 companies, ranging from major payment networks and financial institutions to crypto exchanges and infra providers.

The disappointing part is that Cardano isn’t part of it.

Solana, Stellar, Polygon, Aptos, Plasma, and even Tempo, a new payment-focused L1, are all listed as partners.

Personally, I think there are two things that stand out the most from this list.

First, Tether and Circle, the two companies that already dominate the market, are missing.

Second, Coinbase, which co-created $USDC with Circle and still shares equity and reserve revenue from it, is part of this coalition. Coinbase joining what could become a direct challenger to one of its own major revenue streams says a lot about where the market may be heading.

Especially in the industry, I’ve heard quite often that Circle has become very arrogant because of its market position. If even Coinbase is starting to turn away, there’s probably a reason for that. It feels like the era of USDT and USDC dominating the market alone may be coming to an end.

To me, the real power of OUSD isn’t the technology. It’s the distribution network. These large financial institutions and infrastructure companies already have market share and user bases. They can simply plug a new stablecoin directly into the networks they already control. This feels like the point where the competition shifts from issuance volume to real usage, payment rails, and distribution.

OUSD hasn’t launched yet. And the real test will be whether 140 companies, many of which are fierce competitors, can actually stay aligned under one governance structure. Even so, I do think OUSD has the potential to reshape the stablecoin market.

For a chain like Cardano, I don’t think being left out should just be seen as a disappointment. It can also be turned into an opportunity.

More stablecoin players entering the market means competition for distribution and real-world use cases will intensify. A neutral chain that isn’t tied to a specific issuer could use that competitive landscape as leverage to bring in multiple issuers at the same time.

In other words, not being locked into one giant coalition could actually put Cardano in a more open position to attract a wider range of stablecoin players.

I think now is exactly the time for Cardano to execute that strategy.

[Trending Bitcoin @TrendingBitcoin]

Coinbase now allows AI agents to trade crypto autonomously.

[jesse.base.eth @jessepollak]

we've helped @coinbase move onchain

if you're a CEx, neobank, brokerage, we can help you too

[𝗕𝗮𝗻𝗸XRP @BankXRP]

JUST IN: @Ripple , @coinbase , and other crypto firms have contributed $189 million to the 2026 U.S. midterm elections, according to Public Citizen 37% of the $517 million in total corporate political donations tracked this cycle.

[🟩 Genuine Articles // GG 🦎 @genuinearticles]

GM

Do you remember what it feels like to snipe an underpriced grail?

The race against time.

The fear that Coinbase might freeze your funds.

The moment you smash confirm.

The refresh to see if it actually hit your wallet.

That new gecko smell.

Nothing like it.

[Mando @rektmando]

🟥 Things I'm looking at today 🟥

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BTC outflow record, SOL leads L1s, Yen continues fall

Crypto

* BTC: 58,620 (-1%) | BTC.D: 57.6% (0%)
* ETH: 1,575 (-1%) | BNB: 546 (-1%) | SOL: 74 (+1%)
* Fear & Greed: 10 | 24h Liq: $370m
* BTC ETFs: -$223M | ETH ETFs: -$28M
* Top Gainers: DYDX, BP, JUP, FLUID, WBT
* BTC closes below 200-week MA, first since 2023
* BTC ETFs suffer worst monthly outflow on record
* Looks like late-stage bear market: Wintermute
* Bitmine adds 27k ETH, SharpLink buys 10k ETH
* 84% of Binance altcoins below 200-day average
* SOL continues to lead L1s on memecoin surge
* LIT outperforms HYPE, post tokenomics update
* Visa, BlackRock, Coinbase back OUSD stablecoin
* Circle stock falls 14% on OUSD rival
* Circle cut from major Russell growth indexes
* Trump reports $635M in memecoin income
* Trump discloses over $1.4B in crypto income
* $1.99B in token unlocks over the next month
* Binance, CZ sued by 1,700 UK investors
* Tether's $186B USDT faces EU removal
* EU issues 244 MiCA licenses, Germany leads
* Bybit limits EEA services amid MiCA
* MiCA pushes EU founders toward the UAE
* Australia's crypto travel rule starts July 1
* Taiwan passes crypto law for exchanges
* Guo Wengui gets 30 years in $1B fraud case
* Goliath CEO pleads guilty in $400M Ponzi
* Ondo's 430+ tokenized stocks live on Uniswap
* Nasdaq picks Pyth to distribute TotalView data

Macro

* NASDAQ: $26,210 (+2%) | Gold: $3,970 (-1%)
* S&P 500 back to 7.5k, nears ATH
* Gold eyes worst quarterly loss in 13 years
* Yen collapses to 162.27, weakest since 1986
* Ready to act on Yen collapse: Japan
* Japan, India to weigh Yen-Rupee settlements
* US M2 surged +$247.8B in May to ATH $23.1T
* FAA to legalize supersonic US flights
* IRS drops gift-tax filing for Trump accounts
* Buffett skips midyear Gates Foundation gift
* RFK Jr ends COVID vaccine maker liability
* Iran won't negotiate until US meets demands
* Netanyahu wants to end US aid to Israel
* China must build world-class military: Xi
* Comcast to spin off NBCUniversal and Sky
* Rockstar staff move to unionize before GTA 6

AI & Tech

* US lifts export controls on Fable 5, Mythos 5
* Anthropic runs pre-clinical drug trials
* Meituan trains AI model fully on Chinese chips
* X launches ‘hosted MCP’ for AI agents
* OpenAI 'more than halved' inference cost
* Microsoft plans to lay off thousands
* Apple's Epic Games fight heads to Supreme Court
* Zuckerberg pushes back on AI job-loss fears
* AI-adopting firms tend to hire more: Study
* Amazon to open robotic logistics hub in Poland
* Lime prices IPO at $25 a share
* Dish files for bankruptcy

@YEET: Crypto's Casino
Just passed $2.8B in lifetime volume!

gm