Coinbase (NASDAQ: COIN) inventory closed buying and selling at $189 on Might 29 after rising by 3.72% through the day. The rise was brought on by the CFTC saying Coinbase can enable its US clients to entry crypto perpetual futures that commerce exterior the US. Coinbase will work with Deribit on this journey that can carry it nearer to TradFi. However JPMorgan CEO Jamie Dimon believes that Coinbase is getting extra lenient therapy than banks, and he has mentioned he’ll proceed to push towards the CLARITY Act.
JPMorgan CEO Slams Armstrong, Vows to Cease CLARITY
Dimon got here out weapons blazing in an interview with FOX, the place he mentioned Coinbase CEO Brian Armstrong is “stuffed with s–t” and he is not going to bow right down to him in his quest to get the CLARITY Act to go.
“Nobody’s going to bow right down to this man, or that firm… He’s spending a whole bunch of tens of millions of {dollars} in Washington on this factor [CLARITY].”
Dimon additionally mentioned that banks is not going to settle for CLARITY if there aren’t any amendments, and Coinbase ought to use the identical rules that JPMorgan makes use of.
CoinGape additionally reported that Dimon will battle the stablecoin textual content on CLARITY to make sure that Coinbase is not going to give curiosity on stablecoins, and that can forestall it from drawing the identical clients who deposit with JPMorgan to get curiosity.
Dimon mentioned that his battle with Coinbase doesn’t imply that he’s afraid of competitors, however it’s as a result of Coinbase is performing like a financial institution, however it doesn’t wish to be regulated like one.
However Coinbase just isn’t cowering, and it’s increasing after the CFTC mentioned on Might 29 that Coinbase can supply offshore perpetual buying and selling for its US customers, and that made it the primary change within the US to supply this service.
Coinbase additionally opened round the clock buying and selling for shares that commerce within the US in February 2026.
Dimon’s battle with Coinbase may not finish with CLARITY as a result of President Trump signed an government order on Might 19, asking the Fed to test if Coinbase can get a grasp account that can faucet into the $30 trillion funds rail system.
COIN Inventory Value Beneficial properties as $213 Resistance Comes Into Play
COIN inventory value gained by 3.67% on Might 29, and that helped it transfer additional above the assist zone between $173 and $176. It can get to the resistance of $213 if it stays above $173.
However the 50-day SMA studying of $189 is now a barrier that Coinbase shares want to beat first earlier than the journey to $213 begins. It closed at this SMA on Friday, and it would transfer previous it on Monday if individuals proceed to buy Coinbase due to the CFTC’s nod on perpetual buying and selling.
COIN inventory has closed above the $213 resistance solely as soon as since January 2026. That occurred on Might 11 when a whole lot of shopping for was happening. Coin will get to the 150-day SMA studying of $221 of it will possibly shut above $213 for a minimum of three straight days.
The RSI studying of 48 and the rising RSI line present that even when the momentum is impartial, bulls are attempting to get an excellent grip and take the worth of COIN to $213.
