SEC to Clarify On-Chain Fundraising Rules: COIN, HOOD and MSTR Split This Week
As the SEC moves to clarify on-chain fundraising rules, Binance COINUSDT fell 1.61%, HOODUSDT rose 0.75% and MSTRUSDT fell 2.4% this week.
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The SEC is set to clarify on-chain fundraising rules, yet the three US-stock USDT-margined perpetual contracts on Binance went three different ways: COINUSDT fell 1.61% this week, HOODUSDT rose 0.75%, and MSTRUSDT fell 2.4%. The news sits on the line between compliant trading and listed companies that hold crypto, but the tape gave no single answer. The weekly samples are 34, 35 and 34 weeks, with 21, 13 and 22 weeks stronger than this one.
Where the week actually closed
The daily lines come first. All three are US-stock USDT-margined perpetual contracts. COINUSDT and MSTRUSDT listed on Binance on 2026-02-09, while HOODUSDT listed on 2026-02-02.
| Date | COINUSDT open/close | COINUSDT change | HOODUSDT open/close | HOODUSDT change | MSTRUSDT open/close | MSTRUSDT change |
|---|---|---|---|---|---|---|
| 2026-09-23 | 200.6 / 198.03 | -1.28% | 124.04 / 122.8 | -1% | 168.12 / 162.39 | -3.41% |
| 2026-09-24 | 198.03 / 198.61 | 0.29% | 122.78 / 120.8 | -1.61% | 162.39 / 161.42 | -0.6% |
| 2026-09-25 | 198.62 / 195.26 | -1.69% | 120.81 / 119.06 | -1.45% | 161.41 / 159.19 | -1.38% |
| 2026-09-26 | 195.26 / 197.11 | 0.95% | 119.06 / 119.1 | 0.03% | 159.2 / 160.41 | 0.76% |
| 2026-09-27 | 197.09 / 195.99 | -0.56% | 119.1 / 118.94 | -0.13% | 160.41 / 160.93 | 0.32% |
| 2026-09-28 | 196 / 192.8 | -1.63% | 118.95 / 116.23 | -2.29% | 160.93 / 157.36 | -2.22% |
| 2026-09-29 | 192.81 / 190.46 | -1.22% | 116.23 / 117.56 | 1.14% | 157.37 / 155.93 | -0.92% |
| 2026-09-30 | 190.47 / 192.85 | 1.25% | 117.56 / 119.84 | 1.94% | 155.93 / 157.07 | 0.73% |
Three days matter most. On 2026-09-28 all three weakened together: COINUSDT went from 196 to 192.8, down 1.63%; HOODUSDT went from 118.95 to 116.23, down 2.29%; MSTRUSDT went from 160.93 to 157.36, down 2.22%. On 2026-09-29 they split, with HOODUSDT recovering from 116.23 to 117.56, up 1.14%, while COINUSDT and MSTRUSDT kept sliding. On 2026-09-30 all three closed green: COINUSDT from 190.47 to 192.85, up 1.25%; HOODUSDT from 117.56 to 119.84, up 1.94%; MSTRUSDT from 155.93 to 157.07, up 0.73%.
Where this week ranks
COINUSDT has a weekly sample of 34 weeks, and 21 weeks were stronger. Among them, 2026-04-13 went from 165.71 to 201.21, up 21.42%; 2026-08-17 from 149.28 to 188.36, up 26.18%; 2026-06-29 from 149.07 to 174.48, up 17.05%; 2026-09-14 from 171.97 to 195.42, up 13.64%. This week went from 196 to 192.85, down 1.61%, behind those 21 stronger weeks.
HOODUSDT has a weekly sample of 35 weeks, with 13 weeks stronger. 2026-04-13 went from 68.82 to 89.92, up 30.66%; 2026-05-25 from 75.03 to 95.68, up 27.52%; 2026-08-31 from 104.94 to 126.57, up 20.61%; 2026-06-29 from 98.81 to 114.53, up 15.91%. This week went from 118.95 to 119.84, up 0.75%, trailing only 13 of 35 weeks, the best position of the three.
MSTRUSDT has a weekly sample of 34 weeks, with 22 weeks stronger. 2026-06-29 went from 82.37 to 107.3, up 30.27%; 2026-08-17 from 93.83 to 120.7, up 28.64%; 2026-04-13 from 126.82 to 162.83, up 28.39%; 2026-09-14 from 128.73 to 156.55, up 21.61%. This week went from 160.93 to 157.07, down 2.4%, with 22 stronger weeks ahead of it.
What the hot posts say
Hot posts on Square argue that the SEC clarifying on-chain fundraising rules pulls token issuance toward a compliance framework, which reads as a relatively positive signal for licensed, crypto-holding listed companies, and that COIN, HOOD and MSTR keep coming up in that discussion (relayed, not the site's view). Other hot posts caution that the gap between a rule and actual business is wide, and that news alone is not orders or revenue, with short-term prices still set by flows and sentiment.
Put those relays back on the tape and the result is uneven: the most discussed name, COINUSDT, fell 1.61% this week, MSTRUSDT fell 2.4%, while HOODUSDT rose 0.75%. The narrative and the weekly close do not move in a straight line.
Three plain facts
News and price are not the same thing. The SEC clarifying on-chain fundraising rules is progress at the rule level, while a week's move is set by order flow: COINUSDT fell 1.61%, HOODUSDT rose 0.75% and MSTRUSDT fell 2.4% this week, three answers to one backdrop.
High leverage magnifies that split. All three are US-stock USDT-margined perpetual contracts with no expiry, but under high leverage the same move produces very different profit and loss, and on 2026-09-28, when all three weakened together, heavy positions felt it far more than the table shows.
Funding costs eat into holding over time. Perpetuals use funding to pull price back toward spot, and when the direction is against you the longer you hold the more visible that cost becomes; the best week is a conclusion in hindsight, since 21.42% on 2026-04-13, 26.18% on 2026-08-17 and 30.27% on 2026-06-29 were only recognized after the fact.
What the fees come to
The Binance contract default maker fee is 0.02% and the default taker fee is 0.05%. The rebate ratio is 20%, so the effective maker fee after the rebate is 0.016% and the effective taker fee after the rebate is 0.04%. These three US-stock USDT-margined perpetual contracts are billed at this tier for both longs and shorts.
Source: https://fapi.binance.com/fapi/v1/exchangeInfo
Data as of 2026-09-30; source: Binance official API. Not investment advice.
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Binance is not available in your region. What follows is not a centralized exchange โ it is a different kind of product that you can use:
๐ Binance Web3
A self-custody wallet inside the Binance app; swaps route through on-chain DEX aggregation, not an exchange account
Bind via our link and wallet swap fees drop 30%. On-chain gas and slippage are not covered by the discount.
You must already be a verified Binance user to create a Binance Wallet (official FAQ Q13); wallet referrals and exchange referrals are two separate systems. Zero-fee pairs such as stablecoin swaps generate no rebatable fee.