A number of cryptocurrency regulatory bills supported by US President Trump failed to pass key procedural votes in the House of Representatives on Tuesday, causing the entire cryptocurrency industry to suffer a major setback.The result of this vote was 196 votes in favor and 223 votes against. Among them, 13 Republican lawmakers stood on the same front as Democrats and vetoed the rule vote of this bill. Due to the failure to pass procedural rules, the bill cannot enter the formal debate and voting stage.This move not only rarely shows the "resistance" of Republican members of the House of Representatives to Trump, but also stalls the bill that was originally widely expected by the market to pass smoothly. House leadership plans to make another attempt to push for a vote as early as Tuesday
Coinbase $2.3B Convertible Note: Smart Move or Red Flag?
Coinbase Global was down 6.3%. The crypto exchange unveiled a convertible note offering worth up to $2.3 billion on Tuesday. Coinbase said it plans to offer $1 billion in convertible senior notes due in 2029, and $1 billion due in 2032 in a private offering. The company also expects to grant options to purchase up to an additional $150 million of each set of notes. -------- How do you view a company issuing new shares at high levels? Is it a case of cashing out on retail investors, or simply a good time to raise funds? At what price would it be a good opportunity to buy the dip?
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