Closing Bell: Coinbase Rallies on New Deal, Uber Slides, Visa Stumbles
Jun 18, 2025
Discover Coinbase's exciting new deal allowing USDC to be used as collateral in US futures trading, causing shares to soar. Meanwhile, Uber faces a downturn as Waymo announces plans to test robotaxis in NYC, shaking up the ride-hailing market. The podcast also highlights the contrast in fortunes among chipmakers, with one thriving in 5G while another teeters on the brink of bankruptcy. Dive into the dynamic world of autonomous vehicles and their impact on the stock market!
06:40
forum Ask episode
web_stories AI Snips
view_agenda Chapters
auto_awesome Transcript
info_circle Episode notes
insights INSIGHT
Coinbase Leverages USDC Collateral
Coinbase shares surged 16% due to a new deal to use USDC stablecoin as collateral in US futures trading.
Coinbase is expanding payment offerings integrating USDC on ecommerce sites, signaling momentum in crypto payments.
insights INSIGHT
Wolfspeed Bankruptcy Proposal Insight
Wolfspeed faces a potential takeover by creditors involving a bankruptcy plan to slash billions in debt.
Shareholders might recover up to 5%, which is unusual as typical bankruptcy wipes out shareholders completely.
question_answer ANECDOTE
Tim Rides Waymo Robotaxi
Tim Stenovec shared his personal experience riding a Waymo autonomous vehicle in Arizona, describing it as calming and spa-like.
He mentioned multiple rides with a human supervisor, highlighting comfort with the technology despite its experimental status.
Get the Snipd Podcast app to discover more snips from this episode
Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Scarlet Fu, Alix Steel, Carol Massar and Tim Stenovec.
- Coinbase (COIN) inked a deal to have the world’s second-biggest stablecoin, USDC, used as collateral in US futures trading. The cryptocurrency exchange is also expanding its payment offerings, including integrating USDC on ecommerce merchant sites. Coinbase Derivatives is partnering with clearing house Nodal Clear to work with regulators on what it expects to be the first regulated use of USDC as collateral, according to an announcement on Coinbase’s website Wednesday. Circle Internet Group Inc., of which Coinbase owns a minority stake, is the issuer behind USDC. The stablecoin — essentially a digital asset designed to hold a steady value — has a $61.5 billion market capitalization, per tracker CoinMarketCap.com. Shares rallied on the news.
- Uber (UBER) shares fell as shares of Lyft after Alphabet's Waymo applied for a permit to test its robotaxis in New York City, underscoring its intent to operate in one of the largest ride-hailing markets in the US despite an absence of local regulations supporting commercially operated autonomous vehicles.The company has applied for a permit with the city’s Department of Transportation to operate its vehicles autonomously in Manhattan with a trained human specialist supervising behind the wheel, spokesperson Ethan Teicher said in a statement Wednesday.
- Visa (V) and Mastercard (MA) shares both fell amid fears of increased competition from stablecoins and what it could mean for the credit card industry. after White House crypto czar David Sacks told Bloomberg Television that stablecoin legislation would cause the asset class to grow and create demand for the US dollar
Stock Movers