Coinbase Faces Rising Competition as Robinhood and MARA Post Weekly Gains

This week in cryptocurrency markets, Robinhood (HOOD) and Marathon Digital Holdings (MARA) closed with notable gains, while Coinbase encountered growing challenges in its custody business. Meanwhile, traditional economic indicators like GDP continue to hold little relevance for crypto-focused asset managers.

Public Keys: Weekly Crypto Roundup

This week in crypto, Robinhood (HOOD) and MARA Holdings ended the week in the green, while Coinbase faces competition for its custody business. GDP isn’t a favored metric for asset managers in the crypto space. Robinhood, the trading platform, was trading at $42.75 two hours before the closing bell, up 5.8% since last Friday. Bitcoin miner MARA Holdings also ended the week higher. Meanwhile, Coinbase is facing competition in the custody business, and analysts suggest that GDP isn’t a relevant metric for assessing the value of crypto assets.

SEC Considers Regulatory Sandbox for Crypto Exchanges

The SEC’s leadership has suggested establishing a regulatory sandbox for digital assets, which would allow crypto exchanges like Coinbase to experiment with offering tokenized securities alongside crypto products. Tokenized securities are versions of traditional securities offerings, like stocks and bonds, issued as fungible assets on blockchain networks. Republican commissioners floated the idea of issuing exemptions for crypto exchanges to participate in this new sector.