Business
November 9, 2026
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- COIN stock traded at $131.89, down 2.13%, despite Coinbase’s completed US trust charter
- The charter brings Coinbase’s institutional custody business under federal supervision, strengthening its offering to institutional clients
- Binance called the alleged 335M-record data listing a likely scam, saying its preliminary investigation found no evidence of a related compromise
Coinbase has secured a full US trust charter, but COIN stock was still lower before Monday’s opening bell. The approval gives its custody business a federal framework while Binance disputes a claim involving 335 million records. Coinbase spent months meeting the regulator’s conditions. Now it can offer institutions another reason to consider its custody services.
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Coinbase Completes Its Federal Trust Charter
The OCC’s licensing record lists Coinbase National Trust Company’s charter as effective November 6, following conditional approval on April 2.
Coinbase said it spent the intervening months building compliance systems, hiring staff and completing regulatory reviews. The Coinbase trust charter puts its custody business under federal supervision and supports related transaction services.
The bank approval has limits. Coinbase will operate a specialized trust institution, rather than a commercial bank accepting ordinary retail deposits and making loans. Vice Chairman Ryan VanGrack said in a statement,
“We’ve spent years asking for clear rules and rigorous oversight.”
It should be noted that this decision follows Ripple’s final trust-bank approval in October, extending the entry of crypto companies into federally supervised banking.
COIN Stock Remains Lower Before the Open
Coinbase stock traded at $131.89 at press time, down 2.13% from its previous close of $134.76. The premarket move alone does not establish how traders valued the charter announcement.
The potential advantage is commercial. The federal supervision could make Coinbase custody more attractive to institutions choosing where to hold digital assets. New client agreements and services would give investors evidence of how Coinbase is using that status.
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The industry’s route into banking also faces opposition. The Independent Community Bankers of America sued the OCC in October, arguing that its trust-chartering framework exceeds the regulator’s authority.
Binance Challenges the 335M-Record Listing
The Binance data leak claim involves an advertisement attributed to ShinyHunters, offering 335.9 million lines of purported Binance information for $900,000.
Binance said its preliminary investigation found no evidence of compromised systems or customer data connected with the listing. It described the offer as a likely scam while continuing to investigate.
The exchange said claims involving plaintext passwords and private keys for external wallets conflicted with its security practices. Brandefense’s research also treated the advertised data as unverified. The line count does not establish how many users, if any, were affected.
Coinbase’s charter gives it a stronger regulatory pitch, but it does not prove that customers are leaving Binance or that Coinbase is immune to security failures. For COIN investors, the more convincing follow-through would be institutions choosing Coinbase and new services launched under the charter. The approval gives the company an opening, and winning that business still takes work.
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