Coinbase (NASDAQ:COIN) stock closed trading at $189 on May 29 after rising 3.72% on the day. The reason for this surge was the Commodity Futures Trading Commission (CFTC) saying that Coinbase could allow its US customers to access cryptocurrency futures contracts that are traded outside the US. Coinbase will be working with Deribit on this journey that will bring it closer to TradFi. But JPMorgan CEO Jamie Dimon believes Coinbase is getting more lenient treatment from banks, and said he will continue to push against the Clarity Act.
JPMorgan CEO criticizes Armstrong, vows to stop clarity
Damon came out guns blazing in an interview with FOX where he was at He said Coinbase CEO Brian Armstrong is “full of stuff” and will not bow to it in his quest to pass the Clarity Act.
“No one is going to bow down to this guy or that company… He’s spending hundreds of millions of dollars in Washington on this thing (CLARITY).”
Dimon also said that banks will not accept clarity if there are no amendments, and Coinbase must use the same regulations as JPMorgan.
CoinGape also reported this Damon will fight the stablecoin script on CLARITY To ensure that Coinbase will not give interest on stablecoins, this will prevent it from attracting the same customers who deposit with JPMorgan to earn interest.
Dimon said his fight with Coinbase doesn’t mean he’s afraid of competition, but rather that Coinbase acts like a bank, but he doesn’t want to be regulated like a bank.
But Coinbase isn’t backing down, and it’s expanding after the Commodity Futures Trading Commission (CFTC) said on May 29 that… Coinbase can offer offshore perpetual trading to its US usersThis made it the first stock exchange in the United States to provide this service.
Coinbase also opened around-the-clock trading for US-traded stocks in February 2026.
Damon’s battle with Coinbase may not end with CLARITY because… President Trump signed an executive order On May 19, it asked the Fed to check whether Coinbase could have a master account that would benefit from the $30 trillion payments rail system.
The coin’s share price is rising as $213 resistance emerges
COIN stock price rose 3.67% on May 29, which helped it move above the support zone between $173 and $176. It will reach the $213 resistance level if it stays above $173.
But the 50-day SMA reading of $189 is now a drag on that Coinbase shares You need to beat it first before you start the journey to $213. It closed at this moving average level on Friday, and may surpass it on Monday if people continue to buy Coinbase due to the Commodity Futures Trading Commission (CFTC) approval of perpetual trading.
COIN stock has closed above the $213 resistance level only once since January 2026. That happened on May 11 when there was a lot of buying. The coin will reach a 150-day SMA reading of $221, and could close above $213 for at least three consecutive days.
The RSI reading at 48 and the rising RSI line shows that even if the momentum is neutral, the bulls are trying to take good control and push the coin price to $213.
