CRCL-COIN: CLARITY Could Trigger The Deal.

"Two are better than one, because they have a good reward for their toil. For if they fall, one will lift up his fellow."

Ecclesiastes 4:9-10

God from the beginning created man and woman. Family is God’s illustration of how His relationship with us is meant to be. By His perfection through His love for us, evidenced through Jesus life, death, and resurrection at the cross, we can appreciate and understand that we are all a part of this family.

 Coinbase and Circle already feel like one company – they have been building towards this for eight years. Regulation is the only thing keeping them apart.

• Coinbase earns 100% of reserve income on platform USDC — but only 50% off-platform. Full ownership resolves this permanently.

• Circle paid $900M to Coinbase in distribution costs in 2024 alone with this increasing in 2025. In a merger, that becomes retained cash flow.

• "If Coinbase wanted to buy them, Circle would sell in a heartbeat." — Fortune, citing a banker close to both companies. Ripple considered as well.

• CLARITY Act stablecoin yield compromise is 99% resolved. A Senate markup in the second half of April sets the clock.

Bottom line: Own both COIN and CRCL heading into late April. You capture the premium on CRCL and the combined upside on COIN over time.

WATCH FOR

Senate Banking Committee markup late April  ·  CLARITY Act floor vote May  ·  Any Coinbase M&A announcement or deal chatter