Coinbase Institutional 🛡️

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[Coinbase Institutional 🛡️ @CoinbaseInsto]

A new era in institutional crypto trading has arrived.

The future of finance is here, and it’s on Coinbase Prime.

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Get early access to insights like these from our research team’s Market Commentary on a weekly basis by subscribing to Coinbase One (if you haven’t already) ↓

https://t.co/YdsyLXRdC0

For immediate access to the reports Coinbase Research team publishes on a weekly, monthly, and quarterly basis, visit our Research and Insights page: https://t.co/9Yjz87SFAG

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Banking the Bots

→ For the first time, the crypto industry is building infrastructure not for human users, but for autonomous AI agents that can hold money, make decisions, and transact entirely on their own.

→ On June 11, we launched Coinbase for Agents, which connects AI agents directly to users’ Coinbase accounts so they can trade, pay, and run financial workflows on users’ behalf.

→ Coinbase for Agents will soon support x402, developed by Coinbase and now stewarded by the x402 Foundation.

→ With x402, AI agents can use stablecoins to access data, APIs, and services, without accounts, API keys, or human approval for every transaction. It’s a core building block for the machine economy.

→ Both the dollar volume and the number of agentic transactions flowing through x402 have risen sharply in recent months.

→ While the absolute numbers are still small, we think the current momentum speaks to the possibility of explosive growth in the coming years.

x402 agentic-payment volume and transaction count

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Listen to our insights on the most impactful news and events driving crypto markets, wherever you get your podcasts.

→ Apple:
https://t.co/PZgXOhkcc1
→ Spotify: https://t.co/nlGCI88Mgg

[Coinbase Institutional 🛡️ @CoinbaseInsto]

The Fed Is in Charge

With hawkish Fed signals helping drive BTC below $60K, the critical question for investors is whether crypto is stabilizing or actively repricing for a stronger dollar and a higher-for-longer rate world.

Key insights:

→ Inflation Is Heating Up: Hot PCE inflation numbers (4.1%) have renewed macro pressures, forcing the market to take the Fed's higher rate path seriously despite underlying policy nuances.

→ AI Is Hoovering up Capital: Explosive earnings and unprecedented net profit margins in AI equities may be crowding out speculative dollars that could otherwise flow to long-duration assets like BTC.

→ Decentralized AI Demonstrates Real Value: The government’s shutdown of Anthropic’s Fable 5 and Mythos 5 models highlights the case for decentralized AI.

→ The Future of Money Takes a Big Step Forward: The launch of Coinbase for Agents highlights a massive emerging market of agentic commerce, where autonomous AI agents leverage crypto as immutable, 24/7 programmable money rails.

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Get early access to insights like these from our research team’s Market Commentary on a weekly basis by subscribing to Coinbase One (if you haven’t already) ↓

https://t.co/MsQZI8boLm

For immediate access to the reports Coinbase Research team publishes on a weekly, monthly, and quarterly basis, visit our Research and Insights page: https://t.co/9Yjz87SFAG

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Hawks Are Circling

→ At Kevin Warsh’s first meeting as Fed chair the FOMC delivered a hawkish and mildly stagflationary message.

→ Higher inflation, slightly slower growth, and a stable labor market is an uncomfortable mix.

→ For crypto, we see this as a continuation of the headwind that we’ve flagged for weeks.

→ But there is a constructive read below the headlines: Because the committee raised its inflation forecast by more than its rate path, the implied real policy rate for 2026 fell.

→ On June 12, the U.S. government did something it had never done before: it switched off a frontier AI model. That poses a structural change in the risk profile of centralized AI.

→ Decentralized AI networks and tokens could benefit as a result.

June vs March median fed funds rate projections

[Coinbase 🛡️ @coinbase]

Two of the biggest upcoming IPOs:

OpenAI and Anthropic.

Get exposure to both now on Coinbase, with pre-IPO perps.

Start trading before they go public.

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Coinbase Payments is the complete stablecoin payments solution.

It combines the same APIs that power Coinbase products with USDC, @base, and institutional-grade wallets into one crypto-as-a-service integration. ↓

[Coinbase 🛡️ @coinbase]

Stablecoin demand is at an all-time high.

With Coinbase Payments, businesses get a complete, out-of-the-box solution.

Custody, compliance, settlement, fiat rails, and agentic commerce - all covered.

You focus on building. We’ll handle the rest.

[Coinbase Institutional 🛡️ @CoinbaseInsto]

New markets, deeper liquidity, a managed solution for stablecoin payments, and more.

Catch up on everything announced at our System Update today ↓

[Coinbase 🛡️ @coinbase]

We started as a place to buy Bitcoin, now we power your entire financial life.

Here’s everything we announced today ↓

→ Tokenized Stocks
→ Pre-IPO Perps
→ Stock options
→ Crypto options
→ Perpetual-style equity indices
→ Crypto derivatives, back in America
→ Time-based prediction markets + Combos
→ Launches: access millions of tokens, the moment they go onchain
→ Coinbase Advisor: an AI investment advisor, built into the app
→ Coinbase for Agents: connect any AI agent to your account
→ Base MCP + x402: give your agents their own wallet
→ The new Coinbase Advanced - fully modular
→ One unified global liquidity pool
→ Coinbase One Card, now more accessible secured by USDC
→ 5% Bitcoin back on travel
→ Crypto-backed mortgages
→ Borrow against your staked ETH & SOL with new liquidation protection
→ Transfer Protections
→ New Coinbase Developer Platform
→ Full stack Coinbase Payment solution
→ B20: a Base native token standard for any asset
→ Base App on web + multichain support + all assets
→ Private transactions for enterprises on Base

See you next time.

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Fragmented liquidity has held crypto markets back.

Coinbase is combining its exchanges into one global liquidity pool to give traders broader access to deeper markets. ↓

[Coinbase Markets 🛡️ @CoinbaseMarkets]

We’re bringing trading volume back to America.

All of our exchanges → a single, global liquidity pool.

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Legal stuff:

Coinbase Derivatives, LLC is a Designated Contract Market registered with the Commodity Futures Trading Commission. The risk of trading futures can be substantial. Each investor must consider whether this is a suitable investment.

[Coinbase Institutional 🛡️ @CoinbaseInsto]

The cleanest way to express a macro view in US derivatives markets is here. A single regulated contract with direct exposure to the themes reshaping global markets.

Only on Coinbase.

[Coinbase 🛡️ @coinbase]

Trade entire sectors in a single click.

For the first time, equity index perp-style futures are live on Coinbase.

Go long or short on AI, and other leading sectors.

→ AI10
→ Defense10
→ China10
→ Tech100

Everything is becoming tradable, only on Coinbase.

[Coinbase Institutional 🛡️ @CoinbaseInsto]

The only US perps with nearly a year of live liquidity, battle-tested infrastructure, and a full suite of 22 contracts.

No expiration. No empty order books. The OG US perp.

[Coinbase 🛡️ @coinbase]

With over $200B of trading volume in the US alone, we'll just call them what they always were.

US Perps.

22 assets. Institutional-grade liquidity. No expiration.

Live on Coinbase (for a year now).

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Get early access to insights like these from our research team’s Market Commentary on a weekly basis by subscribing to Coinbase One (if you haven’t already) ↓

https://t.co/omcX3vl0Ty

For immediate access to the reports Coinbase Research team publishes on a weekly, monthly, and quarterly basis, visit our Research and Insights page: https://t.co/9Yjz87SFAG

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Decoupled and De-Rated:

The May CPI and PPI reports put inflation back in the driver's seat, and last week's jobs report forced markets to reprice the macro setup.

The market is now pricing in a >50% chance of a rate hike this year.

While equities can withstand higher inflation with strong earnings, crypto has no equivalent catalyst to lean on.

Firmer rate pressure, a stronger dollar, and reduced appetite for speculative duration are all weighing on bitcoin: Since May 1st, spot BTC ETFs have experienced nearly $4 billion of outflows.
In the short term, inflation, labor resilience, and the possibility of rate hikes are likely to keep macro firmly in control of crypto price action.

Markets pricing in a >50% chance of a rate hike by year-end

[Coinbase Institutional 🛡️ @CoinbaseInsto]

The US commodities futures market just changed forever.

Gold and silver futures go 24/7 tonight on Coinbase.

[Coinbase 🛡️ @coinbase]

For the first time ever, US-regulated gold and silver futures won’t be closing for the weekend. Or ever.

24/7 trading goes live tonight on Coinbase.

With oil, and more, coming soon.

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Listen to our research team break down the most impactful market news and events, wherever you get your podcasts.

→ Apple: https://t.co/pHpOlQGsiC

→ Spotify: https://t.co/o4h2c5k3US

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Dispersion Dominates

The key question for investors is whether digital assets are repricing due to a single macro force or responding to distinct narratives. While BTC continues to be macro driven, we’re seeing a range of idiosyncratic forces, from security to tokenomics, starting to meaningfully impact prices in the altcoin sector.

Key insights:

→ Labor vs. Inflation Tug-Of-War: Recent strong labor-market data coupled with higher inflation is increasingly becoming a headwind for risk assets.

→ The Double-Edged ETF Sword: Spot crypto ETFs have broadened access for both retail and institutions, but they’ve also made it easier to rotate out of crypto, which may be exacerbating the current sell-off.

→ An AI Wake-Up Call: The AI-assisted discovery of a critical vulnerability in Zcash shows that powerful AI models can unearth overlooked bugs quickly. This may warrant a repricing of more complex protocols and those that haven’t invested enough in security.

→ Beyond the Hype: Hyperliquid’s outperformance demonstrates the power and potential of tokens with real revenue and strong buyback economics.

[Coinbase Institutional 🛡️ @CoinbaseInsto]

Watch the full segment here: https://t.co/yFAQFLfNMx

[Coinbase Institutional 🛡️ @CoinbaseInsto]

From market structure to regulatory momentum, @johnjdagostino says the foundation supporting bitcoin today is significantly stronger than anything we've seen during prior drawdowns.

He joined @SquawkCNBC to share more on crypto markets, institutional infrastructure, and how institutions are strategizing during a downturn: