Coinbase has added native staking support for Sui, giving eligible users a way to earn SUI rewards directly through the exchange without managing validators themselves.
According to Coinbase’s staking support materials, SUI staking offers dynamic estimated rewards in the range of 1.4% to 3.3% APY, with eligibility restrictions that exclude New York. The structure uses auto-compounding, and rewards are tied to Sui’s epoch-based validator system, with Coinbase distributing user rewards on its own schedule.
For Sui, the listing matters because Coinbase distribution can make staking easier for a much wider user base. Plenty of tokenholders are curious about staking, but do not want to deal with wallets, delegation, validator selection, or network-specific tooling.
Coinbase turns that process into a button inside a familiar account.
TL;DR
Coinbase now supports native SUI staking for eligible users.
Estimated rewards are dynamic and listed at roughly 1.4% to 3.3% APY.
The launch improves staking access, but it should not be mixed with unsupported price-target claims.
Why Exchange Staking Still Matters
Crypto-native users often prefer self-custody staking.
They want control over wallets, validators, and rewards. That makes sense for experienced users, especially on networks where delegation is straightforward.
But most exchange users are different.
They may hold SUI because they like the network, because it is listed on Coinbase, or because they want exposure to a growing Layer 1 ecosystem. They may not want to learn the staking mechanics. They may not even know how to move tokens safely into a wallet.
Exchange staking fills that gap.
It is not the same as staking directly. Users rely on Coinbase’s custody, terms, and distribution process. But it lowers the barrier for participation and can increase the share of tokenholders earning rewards rather than leaving tokens idle.
For a network like Sui, that can help make staking feel more mainstream.
The APY Is Dynamic, Not Guaranteed
The reward range needs to be read carefully.
A stated APY estimate is not a fixed promise. Staking rewards can change based on validator performance, network conditions, commission, total stake, and protocol-level reward mechanics. Coinbase may also apply its own terms around distribution and eligibility.
That means users should treat the APY as an estimate, not a guaranteed yield product.
This is especially important because exchange staking can sometimes be marketed too casually. It may look like a savings account inside the app, but the underlying asset remains volatile. A user can earn SUI rewards and still lose money if the SUI price falls.
That is not unique to Sui. It is true across staking assets.
The reward is paid in the token, and the token’s market price still matters.
Coinbase Gives Sui More Visibility
The bigger ecosystem impact is visibility.
Coinbase support puts SUI staking in front of users who may not follow Sui’s developer updates or ecosystem announcements. It makes staking part of the exchange experience rather than a separate crypto-native workflow.
That can help with user participation.
More accessible staking may improve tokenholder engagement, reduce idle balances, and create a clearer reason for long-term holders to keep assets on-platform. It can also make Sui feel more mature as an asset supported by major exchange infrastructure.
But this should not be confused with a direct price catalyst.
A staking launch does not automatically mean SUI will break resistance levels, attract new buyers, or outperform the market. It is an access and infrastructure update first.
Price action will still depend on broader demand, market sentiment, unlocks, developer activity, DeFiliquidity, and macro conditions.
The Custody Trade-Off
There is always a trade-off with exchange staking.
Coinbase makes staking easier, but users give up direct control while their assets remain in exchange custody. That may be fine for many retail users, but it is still a different risk profile from self-custody.
Some users will prefer Coinbase because it is simple. Others will prefer direct delegation because it offers more control and potentially different validator choices.
Both approaches can coexist.
For Sui, the important thing is that staking access is expanding. A healthy network benefits when more holders understand how staking works and how rewards are generated.
Coinbase is one of the strongest distribution channels for that education.
Sui’s Ecosystem Gets Another Mainstream Entry Point
Sui has been working to position itself as a high-performance network for DeFi, gaming, payments, and consumer applications. Staking support from Coinbase does not prove that strategy is succeeding by itself, but it adds another mainstream touchpoint.
Users can buy SUI. They can hold it. Now eligible users can stake it more easily.
That gives the asset a more complete exchange-side experience.
The next question is whether Sui can turn that user access into deeper ecosystem activity. Staking is useful, but the network also needs apps people want to use, liquidity that stays, and developer momentum that turns infrastructure into demand.
Coinbase support helps with the first step: making participation easier.
Coinbase is preparing for future scenarios where quantum computers may be able to crack Bitcoin’s current cryptography.
America’s biggest crypto exchange said Thursday that while the threat isn’t imminent, hard problems — such as migrating millions of users and coordinating protocol upgrades across decentralized systems — need to be solved.
Quantum computers are still experimental and make mistakes but some in the crypto community have sounded the alarm about hypothetical advancements in the machines that could in the future be able to break Bitcoin’s cryptography.
“There’s a lot of noise about quantum computing right now,” Coinbase said. “Some of it is hype. Some of it is fear. And some of it is real.”
The publicly-listed company added that a large-scale quantum computer capable of breaking current cryptography will eventually be built, and so the work to prepare needs to start now, “not when it’s urgent.”
The gameplan
The exchange added that its Independent Advisory Board on Quantum Computing and Blockchain, formed earlier this year, plans to deliver a post-quantum signing pipeline using secure enclaves and threshold cryptography.
Coinbase said that currently, its key management system protects approximately 99.9% of the assets the company custodies. But within the next year, the company will deliver an automated signing pipeline that will allow quantum-safe custody as soon as blockchains begin adopting post-quantum schemes.
It added that it was bringing together Bitcoin core developers, cryptographers and researchers to discuss post-quantum migration strategy, with plans to continue these regularly.
“Preparing Bitcoin for a post-quantum world is one of the most consequential and complex challenges the protocol has ever faced,” the exchange said.
Coinbase is also a founding member of the new Bitcoin Security Consortium — alongside BlackRock, Fidelity Digital Assets, Block, and others — which donates funds and dedicates engineers to open-source work supporting proposals like BIP-360.
The quantum “threat”
Crypto companies and protocols have been planning for a hypothetical future where quantum computers can break top cryptography ever since Google researchers last year said that improvements in the computers may allow them to be able to break the cryptography protecting major cryptocurrencies in just nine minutes.
Some in the community have called the warnings overblown, but others have already started preparing for a post-quantum future by testing quantum-resistant signatures on live sidechains.
Nine of the largest names in institutional Bitcoin launched the Bitcoin Security Consortium on Thursday, a group backed by $15 million in member pledges over three years to fund work on the network’s long-term security, including preparation for a future era of quantum computing.
Founding members are Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy, and Strategy, a lineup that spans holders, custodians, exchanges, infrastructure and payments providers, and asset managers.
The consortium’s day-to-day work falls to Mike Schmidt, executive director of the developer non-profit Brink, who serves in a volunteer role.
Schmidt tweeted about the role, saying, “I said yes because supporting Bitcoin’s developers and helping people understand their work are the two things I’ve spent my time in Bitcoin on, through Brink and Optech. This group wants to do both: fund the people already securing Bitcoin, and bring accurate information about that work to audiences it doesn’t currently reach.”
Each member directs its own funding to the developers, researchers, and organizations it chooses; the $15 million figure is an aggregate of independent pledges rather than a pooled fund. The group also plans to serve as a reference point on Bitcoin’s security for investors, the public, and the media, and to publish material it will update as the field develops.
Funding advocates
The consortium drew clear limits around its role. It says it does not develop or direct Bitcoin’s protocol, takes no position on specific protocol changes, and does not speak for Bitcoin or its developers.
It casts itself on the model of industry groups that fund the open-source software they rely on without controlling the work.
“Bitcoin’s development is, and will remain, the work of a global, decentralized community of contributors,” the group said.
“As long-term holders, we have every incentive to see Bitcoin remain secure for generations,” said Phong Le, Chief Executive Officer of Strategy. “Funding the people who do this work, and helping inform the conversation around it, is a natural way for us to contribute.”
Robert Mitchnick, BlackRock’s Global Head of Digital Assets, said Bitcoin Core developers “do incredibly important work,” and that the members would make “significant additional funding available to support Bitcoin’s long-term security needs.”
Much of the consortium’s stated focus lands on the quantum question. Large-scale quantum computers able to break BTC’s cryptography do not exist today, and credible estimates place such capability years out.
The group frames post-quantum protection as a long-term priority the technical community already works on, and positions itself as a grounded source as that work moves.
That framing matches a wider institutional turn toward the issue. Coinbase has formed a quantum computing advisory board, Galaxy launched its own quantum readiness initiative with developer grants days before, and BlackRock has listed quantum computing as a risk in its spot BTC ETF filings.
Views on urgency diverge, a split the consortium’s members embody. Adam Back, founder of member firm Blockstream, has called the quantum threat decades away, while other voices place a capable machine within the next several years.
The stakes are large either way, since Coinbase research has estimated that between 20% and 50% of BTC’s supply, much of it in older wallet formats, could face exposure to a long-range quantum attack.
The consortium sidesteps the timeline debate and stakes its role on funding and information rather than a forecast. Its own summary holds that the risk is real, yet the network is preparing.
Coinbase has expanded its Singapore operations with a new office and announced plans to increase its local workforce by about one-third to around 200 employees by the end of 2026. According to The Business Times, Nasdaq-listed crypto exchange Coinbase officially…
Base and Optimism are working to bring native account abstraction to the OP Stack, with developer testing already live on Base Vibenet and mainnet rollout planned for the Cobalt upgrade in September 2026.
The update centers on EIP-8130 and aims to make user accounts more flexible across OP Stack chains.
For users, the idea is simple: crypto wallets need to feel less clunky. Account abstraction can help make that happen by supporting features such as smoother onboarding, better transaction flows, and more flexible account logic.
The important caveat is that this is not fully live across mainnet OP chains yet. The feature is in testing, with broader rollout planned later.
TL;DR
Base and Optimism are working on native account abstraction for the OP Stack.
Developer testing is live on Base Vibenet.
Mainnet rollout is planned for the Cobalt upgrade in September 2026.
Why Account Abstraction Matters
Crypto still has a user experience problem.
Seed phrases are intimidating. Gas fees are confusing. Wallet approvals are messy. Signing flows are hard for ordinary users to understand. Even experienced crypto users can make mistakes when moving across chains and apps.
Account abstraction is one of the industry’s main attempts to fix that.
Instead of treating every wallet like a simple externally owned account with limited logic, account abstraction allows more programmable account behavior. That can support features such as sponsored transactions, session keys, recovery systems, spending limits, batched actions, and app-specific permissions.
In plain English, it can make wallets behave more like modern financial apps without giving up the benefits of blockchain infrastructure.
That is why Base and Optimism pushing native support into the OP Stack matters.
If account abstraction becomes part of the stack itself, developers may not need to build as many workarounds at the app layer.
Base Gives The Upgrade Real Distribution
Base has become one of the most important consumer-facing Layer 2 networks in crypto.
Its Coinbase connection gives it distribution, brand recognition, and access to a large pool of potential users. That makes Base an important testing ground for wallet and account improvements.
If native account abstraction works well on Base, it could improve onboarding for apps built on the network. Users may be able to interact with applications more easily, while developers get better tools for designing smoother experiences.
The Optimism side matters too.
The OP Stack is used by multiple chains. Improvements to the stack can spread across the broader Superchain ecosystem if adopted. That means the work is not limited to one network in theory.
But adoption will still depend on implementation, timing, and developer support.
The Vibenet testing phase is useful because it gives builders a place to experiment before mainnet rollout.
Mainnet Timing Is The Key Caveat
The September Cobalt upgrade is the important timeline marker.
Until then, users should not assume native account abstraction is fully available on mainnet. Developer testing is not the same as production deployment. Apps may experiment before the broader rollout, but real user impact depends on mainnet readiness.
That distinction matters because account abstraction is often discussed as if it has already solved crypto UX.
It has not.
The technology is promising, but it needs wallet support, app integration, secure implementation, and user-friendly design. A technical upgrade alone does not automatically make crypto easy.
Still, native support can remove a major barrier.
If Base and Optimism make account abstraction easier for developers to use, the next generation of apps may feel much less awkward than today’s DeFi and wallet flows.
The OP Stack Is Becoming More User-Focused
The OP Stack conversation often focuses on scaling, fees, sequencer revenue, and network architecture.
Account abstraction brings the focus closer to the user.
Lower fees are helpful, but they do not solve confusing wallet experiences. Faster confirmations are useful, but they do not fix bad onboarding. A better account model can attack those problems more directly.
That is why this update matters for the broader Ethereum Layer 2 market.
Competition between L2s is no longer just about throughput. It is about which networks can attract real users and keep them active. Better wallet experiences may become a major differentiator.
Base and Optimism are betting that account abstraction belongs inside the infrastructure layer, not only as an optional app feature.
If the Cobalt rollout succeeds, the OP Stack could become more attractive to consumer apps, gaming projects, payment tools, and DeFi platforms that want simpler user flows.
The market should watch the testnet phase closely.
The promise is big, but the proof will come when developers turn the upgrade into products that ordinary users can actually understand.
Coinbase shares have fallen 4% to about $169 on July 22 as the CLARITY Act’s 2026 passage odds dropped 15 percentage points from the previous day’s peak. Polymarket data places the bill’s chance of passing before the end of 2026…
Coinbase has opened SUI staking with a one-token minimum and estimated annual rewards of 1.4% to 3.3% as Sui tests resistance near $0.78. Coinbase announced the rollout on July 22, giving eligible customers a way to stake SUI and collect…
Coinbase has secured a $150,000 settlement from the U.S. Securities and Exchange Commission after the regulator lost nearly 11 months of former Chair Gary Gensler’s text messages. A Wall Street Journal op-ed written by Coinbase Chief Legal Officer Paul Grewal…
Coinbase has settled its Freedom of Information Act lawsuit against the Securities and Exchange Commission, closing a years-long fight that came to rest on a batch of text messages the agency admits it destroyed.
Under the terms, Grewal wrote, the SEC will pay $150,000 and repair its record-retention policies.
The story behind the settlement is what gives it weight. Coinbase filed FOIA requests in 2023 for records that might show how the SEC decided to treat crypto as securities, the same question at the center of the enforcement suit the agency brought against the company that June.
Rather than hand over the files, the SEC denied the requests, and the case dragged into court.
The SEC’s own inspector general found that close to a year of former Chair Gary Gensler’s text messages, from October 2022 to September 2023, had been wiped after the agency reset his phone before a backup was made.
That window covered the collapse of FTX and the agency’s hardest push against crypto exchanges. The watchdog found that 38% of the recovered texts touched agency business, including a May 2023 exchange on the timing of enforcement against trading platforms.
SEC should play by the same rules: Coinbase
Grewal built his case on a point that needs no legal training to feel. Under Gensler, the SEC had levied more than $1 billion in fines on financial firms for losing employee messages, and had said “everybody should play by the same rules.”
Yet it lost its own chair’s texts during the most consequential stretch in crypto’s short history. “The Gensler SEC destroyed documents they were required to preserve and produce,” Grewal wrote when the report landed. “We now have proof from the SEC’s own Inspector General.”
For Coinbase, the value was never the documents alone. The company had cast its transparency suits, including a challenge to the SEC and FDIC over pressure on crypto’s banking access, as proof that regulators leaned on the industry without clear rules. The SEC’s own case against Coinbase fell away in early 2025 under a new administration and a new chair.
The settlement doubles as a personal coda. Grewal, the lawyer who steered Coinbase through years of combat with the SEC, plans to leave the company at the end of July.
He closes this chapter with a small check, a promise of better filing habits, and a story the industry will carry for a long time: that the recordkeeping enforcer could not keep its own records.
Coinbase has expanded plans for its “Everything Exchange” into Canada, bringing tokenized stocks, traditional financial products, and blockchain-based services closer to one platform for local users. BNN Bloomberg reported that Coinbase is preparing to introduce its “Everything Exchange” strategy in…
Crypto giant Coinbase is making its “everything exchange” push in Canada.
Eric Richmond, country director and CEO of Coinbase Canada, told BNN Bloomberg in a Tuesday interview that the move would allow Canadians to not only buy crypto but also trade tokenized stocks and put money on prediction markets.
“Coinbase believes we have a new technology here that can really help with that, and that’s blockchain and the technology that underpins crypto today,” Richmond said in the interview. “How do we create that one place for Canadians to have their entire financial experience in one app that’s underpinned by this technology that makes things frictionless, seamless, and 24/7?”
He added: “I think people are starting to realize the fact that banks close at 4 p.m., or the markets close at 4 p.m., or that wires can take days to settle, or that access for high-net-worth individuals to certain products are gated for just those high-net-worth individuals.”
Coinbase in the U.S. allows Americans to place bets and trade stocks. The company started as a place allowing people to buy and sell Bitcoin but has since offered hundreds of digital coins.
Richmond added that the company was working with Canadian regulators to make the launch.
Tokenized stocks are versions of equities that trade on the technology underpinning Bitcoin: the blockchain. Proponents like Coinbase argue that by tokenizing everything, traders will be able to make transactions around the clock, 24-7.
A number of crypto exchanges are also making the push to branch out from crypto: Kraken, for example, has also started allowing users to trade stocks and has announced plans for a prediction market platform.
Coinbase’s big moves
Coinbase has made some bigger moves in recent years, other than just working as a crypto exchange.
America’s biggest bank, JPMorgan Chase, last year signed a deal with the company to allow customers to directly link their bank accounts to the platform.
Coinbase also provides custody services — including to Wall Street giants like BlackRock — and has a contract with the US government to hold onto seized crypto.
The company also in April received conditional approval from the Office of the Comptroller of the Currency in the U.S. for a national trust banking charter, essentially paving the way for it to serve as a crypto custodian on a federal basis, managing assets for larger entities.
The company has clashed with banking executives recently over stablecoin rewards: the exchange wants its yield-bearing stablecoin products to continue, which in turn could prove to be a bigger boon in the long-run for the business.
Morpho has officially launched its fixed-rate lending protocol Midnight on Base, adding a new credit layer to its onchain lending network as it seeks to bring fixed-rate, fixed-term borrowing closer to traditional financial markets. The Block reported that Midnight is…
Coinbase’s Base Moves Toward Tokenized Stocks For Non-US Users
Coinbase-linked Base is moving toward tokenized stock integration, with Base creator Jesse Pollak pointing to a model built around 1:1 equity backing and dividend pass-through.
The planned product is aimed at non-US users and remains unavailable to US retail traders. That is an important limitation, because tokenized stocks sit directly inside securities regulation. Any serious rollout has to deal with custody, investor eligibility, dividends, redemption, and jurisdictional rules.
Still, the direction is significant.
Tokenized equities have been one of crypto’s most discussed real-world asset ideas for years. The pitch is simple: put traditional stocks on blockchain rails so they can move faster, settle more efficiently, and plug into on-chain financial applications.
Base and Coinbase entering that lane would make the idea more mainstream.
TL;DR
Base is working toward 1:1 backed tokenized stocks.
The model includes underlying equity backing and dividend pass-through.
Access is expected to be restricted to non-US jurisdictions, not US retail traders.
Tokenized stocks are one of the clearest ways to connect traditional markets with crypto infrastructure.
A tokenized stock can represent exposure to an underlying equity while moving on blockchain rails. In theory, that could allow faster settlement, fractional access, global transferability, and integration with DeFi applications.
But the difficult part is trust.
Investors need to know the token is actually backed by the underlying stock. They need to know who holds the shares, how dividends are handled, whether redemption is possible, and what happens if the issuer or custodian fails.
That is why 1:1 backing and dividend pass-through are important.
Those features attempt to make the tokenized asset behave more like the underlying equity rather than a loose synthetic exposure. If users are supposed to trust the product, the connection to the real asset needs to be clear.
Coinbase Distribution Changes The Conversation
Base is not a random chain trying to tokenize stocks.
It is closely tied to Coinbase, one of the most recognizable regulated crypto brands in the market. That gives any Base tokenized-stock effort more weight than a small offshore platform launching synthetic equities.
Coinbase has distribution, compliance infrastructure, institutional relationships, and a large user base.
That does not mean the product is automatically approved everywhere or free from regulatory risk. In fact, the non-US restriction shows how carefully the rollout needs to be framed. But Coinbase’s involvement could make tokenized equities feel more credible to users and partners.
If Base can support tokenized equities within clear legal boundaries, it could become a major venue for real-world asset activity.
That would strengthen Base’s market-structure story beyond memecoins, DeFi apps, and consumer crypto.
The US Restriction Is The Key Detail
The product’s non-US focus is not a footnote. It is central to the story.
US securities rules are strict, and tokenized equities are likely to face heavy scrutiny if offered directly to American retail investors. By targeting international users, Base and Coinbase can explore the market without presenting it as a US retail stock-trading product.
That is a practical strategy, but it also limits the immediate addressable market.
Investors and users should not treat this as a global free-for-all for tokenized US equities. Jurisdiction matters. Eligibility matters. Compliance onboarding matters.
That is the difference between a serious tokenization product and an unregulated synthetic stock casino.
The market has seen weaker versions of this idea before. Some tokenized stock products failed because they lacked clear backing, regulatory durability, or enough liquidity. A Coinbase-linked version will be judged by a higher standard.
Tokenization Is Moving Into Real Products
The broader trend is hard to ignore.
Tokenized Treasuries have already shown that real-world assets can find traction on-chain. Tokenized equities are a more complicated category, but potentially larger. Stocks are widely understood, highly liquid, and globally demanded.
If the infrastructure works, tokenized equities could become one of the more important bridges between traditional finance and crypto.
Base’s move suggests that major crypto platforms still see that opportunity.
The challenge is execution. The product needs transparent backing, reliable dividend handling, strong custody, jurisdictional controls, and enough liquidity to be useful. Without those pieces, tokenized stocks remain a headline rather than a real market.
For now, the signal is clear: Coinbase and Base are moving deeper into tokenized real-world assets.
If they can make the model compliant and usable, tokenized equities could become one of the next major experiments in blockchain market structure.
This article is based on Coinbase and Base public materials.
This article was written by the News Desk and edited by Samuel Rae.
This report is based on information released in official primary source disclosures at primary source documentation.
Senate Democrats have secured additional customer protection measures in the latest CLARITY Act negotiations as lawmakers continue working to finalize the crypto market structure bill ahead of a possible floor vote. CNBC reported that Senate negotiations over the Digital Asset…
Coinbase has backed a tougher CLARITY Act after Senate Democrats added customer safeguards, even as its 2026 approval odds have fallen to 31% on Polymarket amid a dispute over ethics rules involving President Donald Trump. Coinbase vice chair Ryan VanGrack…
Coinbase Vice Chair Ryan VanGrack said the Clarity Act has gained “tremendous momentum” in the Senate, in a CNBC “Squawk Box” appearance that made the case for a federal crypto framework and touched on bitcoin, blockchain, and the industry’s uneasy truce with Wall Street.
VanGrack, a former SEC official, framed the Clarity Act as an overdue set of rules rather than a giveaway. “It’s not about no regulation,” he said. “This is about imposing regulation on the industry for the first time.” He described a “win-win-win” for American investors, innovators, and standards should the measure pass, and said a bipartisan group of senators has kept up work “even in the last few weeks and days.”
Clarity Act updates
The House passed its version of the Clarity Act last year, and attention has shifted to the Senate, where the path to 60 votes remains the central hurdle.
President Trump added his voice last week, posting on Truth Social in support of Senator Lindsey Graham and calling on the Senate to pass the bill. Trump framed the stakes in terms of competition with China, a message he has repeated as he presses the chamber to move.
VanGrack said Democrats have won concessions that strengthen the bill’s consumer protections.
JUST IN: Coinbase Vice Chair talks CLARITY ACT on CNBC
"The Democrats have obtained meaningful concessions to make what was already a strong consumer protection bill, THAT much stronger" pic.twitter.com/y3n04dKdRi
He pointed to an illicit-finance framework, an “FTX loophole” that the text would close, insider-trading safeguards, and added disclosures.
“Across the board, the Democrats have obtained meaningful concessions to make what was already a strong consumer protection bill that much stronger,” he said.
He said the bill would not change how crypto is classified as a commodity or a security in a fundamental sense, and would preserve the registration, examination, and surveillance structure from the House version.
Asked how the industry reconciles with skeptics like JPMorgan chief Jamie Dimon, VanGrack pointed to a wave of bank and institutional deals.
“Not a week goes by,” he said, where a firm fails to announce a new crypto project or investment. He predicted an “inevitable convergence,” a point at which the market stops separating traditional finance from crypto and treats each as a modern financial institution.
Dimon, for his part, has declared war on the Clarity Act and aimed a crude insult at Coinbase CEO Brian Armstrong, a reminder that the détente carries friction.
Is bitcoin real?
The interview turned to a sharper question from CNBC’s Andrew Ross Sorkin: whether blockchain is real but bitcoin is not. VanGrack called it “a fair question” and said the technology’s benefits stand on their own — faster settlement, more transparency, and round-the-clock transactions.
He argued that no one building a financial system today would recreate the infrastructure of the past century. He cited Citadel Securities, which he said made another large investment in the crypto economy last week, as a sign that major institutions are trending the same course.
Sorkin pressed the harder edge of the design: the technology aims to remove the counterparty a customer might call when something goes wrong. VanGrack conceded the point as fair, then countered with the costs of the current system — days to reconcile trades and the counterparty risk that delay creates.
“I’m not here to tell you it’s the wrong technology,” he said. He acknowledged open questions, including whether crypto accounts should carry interest or loyalty rewards, a debate that bankers have raised and that the law will settle as “a blunt instrument.”
He closed on the case for Clarity Act passage. “In the absence of clarity, you do not have a federal oversight and framework,” he said. “So whether you love crypto or hate crypto, you should want” the Clarity Act.
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