Coinbase (NASDAQ: COIN) stock closed trading at $189 on May 29 after rising by 3.72% during the day. The rise was caused by the CFTC saying Coinbase can allow its US customers to access crypto perpetual futures that trade outside the US. Coinbase will work with Deribit on this journey that will bring it closer to TradFi. But JPMorgan CEO Jamie Dimon believes that Coinbase is getting more lenient treatment than banks, and he has said he will continue to push against the CLARITY Act.
JPMorgan CEO Slams Armstrong, Vows to Stop CLARITY
Dimon came out guns blazing in an interview with FOX, where he said Coinbase CEO Brian Armstrong is “full of s–t” and he will not bow down to him in his quest to get the CLARITY Act to pass.
“No one’s 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 should use the same regulations that JPMorgan uses.
CoinGape also reported that Dimon will fight the stablecoin text on CLARITY to ensure that Coinbase will not give interest on stablecoins, and that will prevent it from drawing the same customers who deposit with JPMorgan to get interest.
Dimon said that his fight with Coinbase does not mean that he is afraid of competition, but it is because Coinbase is acting like a bank, but it does not want to be regulated like one.
But Coinbase is not cowering, and it is expanding after the CFTC said on May 29 that Coinbase can offer offshore perpetual trading for its US users, and that made it the first exchange in the US to offer this service.
Coinbase also opened round-the-clock trading for stocks that trade in the US in February 2026.
Dimon’s fight with Coinbase might not end with CLARITY because President Trump signed an executive order on May 19, asking the Fed to check if Coinbase can get a master account that will tap into the $30 trillion payments rail system.
COIN Stock Price Gains as $213 Resistance Comes Into Play
COIN stock price gained by 3.67% on May 29, and that helped it move further above the support zone between $173 and $176. It will get to the resistance of $213 if it remains above $173.
But the 50-day SMA reading of $189 is now a barrier that Coinbase shares need to overcome first before the journey to $213 starts. It closed at this SMA on Friday, and it might move past it on Monday if people continue to purchase Coinbase because of the CFTC’s nod on perpetual trading.
COIN stock has closed above the $213 resistance only once since January 2026. That happened on May 11 when a lot of buying was taking place. Coin will get to the 150-day SMA reading of $221 of it can close above $213 for at least three straight days.
The RSI reading of 48 and the rising RSI line show that even if the momentum is neutral, bulls are trying to get a good grip and take the price of COIN to $213.
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