Crypto Market News Today, January 15: Coinbase CEO Stops ‘Written’ Support Crypto Bill as Ethereum Price Sideways in 2 Months | Altcoin Season Coming?
The crypto market opened today with news grabbing attention in a variety of ways. On the other hand, Coinbase CEO Brian Armstrong has withdrawn from supporting the Senate draft of the crypto bill. On the other hand, the price of Ethereum continued to do what it has done for weeks now, moving sideways and testing our patience, even with small pumps in between, just like yesterday.
Controlled tension over Coinbase’s withdrawal from the crypto bill is rising just as the price of Ethereum continues to hover around the same range it has held for over two months now. While price action may sound boring to watch, history tells us that these quiet moments often reward owners.
Armstrong didn’t mince words when explaining why Coinbase was pulling support. According to him, the current draft of the crypto bill supported by lawmakers introduces restrictions that could restrict DeFi and token assets. On Coinbase, backing a dangerous bill just to “be legal” is not worth trading.
One sticking point is how the crypto bill shifts power away from the CFTC and to the SEC. Another language that can effectively kill stablecoin rewards, driving users back to traditional banks. In Coinbase’s opinion, such a framework penalizes innovation while protecting legacy currencies.
After reviewing the Senate Banking draft text 48 hours ago, Coinbase unfortunately cannot support the bill as written.
There are many problems, including:
– Defacto ban on equity tokens
– DeFi restrictions, which give the government unlimited access to your finances…– Brian Armstrong (@brian_armstrong) January 14, 2026
Coinbase, Crypto Bill Debate, and Ethereum Price Reality
The Senate Banking Committee’s decision to delay the bill came shortly after Armstrong’s criticism, showing how fragile the legislative process has become. Coinbase’s position is firmly in favor of crypto-native companies asking for smart rules, even if we need to wait.
I am actually very hopeful that we will get the right result with continued effort. We will continue to show up and work with everyone to get there.” – Brian Armstrong in his X post
Meanwhile, the price of Ethereum did not react, mostly in a negative way. Despite 62 days of strong trading between $2,900 and $3,400, Ethereum on-chain data continues to improve. The creation of a new wallet recently set a record, bringing the total amount of free money to 173 million.
Institutions are clearly looking beyond the short-term Ethereum price chart. Bitmine’s latest move added more than 154,000 ETH to its stack, from a total holding of 2,133 million Ethereum worth more than $7 billion at the current price. If Bitmine is bullish, so am I.
(source – Arkham)
DISCOVER: 10+ Next Crypto to 100X By 2026
What’s Next?
Ethereum still controls more than 60% of the stablecoin and tokenization market, a dominance that is yet to be cracked despite hundreds of new competitors. ETF flows were positive again, with over $175 million moving into ETH-focused funds from firms like BlackRock and Fidelity, bringing in 3 days of green flows.
(source – Coinglass)
Previous cycles show similar Ethereum price consolidations that have served as launchpads for altcoin rallies. If ETH clears resistance at $3,450, momentum could quickly build to $4,000. Failure there probably means more filming.
In any case, Coinbase is still seeking correction from the “wrong” crypto bill, and Ethereum is building momentum. Good things come to those who wait.
GET:
Follow 99Bitcoins on X For the latest market updates and subscribe to YouTube For Daily Expert Market Analysis.
There are no live updates available at this time. Please check back soon!
Why you can trust 99Bitcoins
Founded in 2013, 99Bitcoin team members have been crypto experts since the early days of Bitcoin.
90+ hours
Weekly survey
100k+
Monthly students
50+
Professional contributors
2000+
Crypto projects reviewed
Follow 99Bitcoins in your Google news feed
Get the latest updates, trends, and information delivered right to your fingertips. Register now!
Register now 
