COIN Falls 6.02% This Week: 26 of 34 Weeks Were Stronger
The US community bankers' lawsuit over OCC crypto bank charters hit the tape unevenly: COINUSDT fell 6.02% this week, HOODUSDT fell 4.74%, while MSTRUSDT rose 1
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The headline landed, and COIN closed at 184.21
The US community bankers' lawsuit over OCC crypto bank charters showed up most clearly in COINUSDT: the week opened at 196 USDT on 2026-09-28 and the latest close is 184.21 USDT, a weekly move of -6.02%. Over the same week HOODUSDT went from 118.95 USDT to 113.31 USDT, a weekly move of -4.74%, while MSTRUSDT went from 160.93 USDT to 163.27 USDT, a weekly move of 1.45%. All three are Binance equity USDT-margined perpetual contracts, so the same news and the same week produced different directions. For anyone trading this headline, the first thing to separate is that the lawsuit targets a charter path, not the daily bars of these three companies.
How the week actually traded
| Date | COINUSDT open/close | Move | HOODUSDT open/close | Move | MSTRUSDT open/close | Move |
|---|---|---|---|---|---|---|
| 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 / 186.7 | -1.98% | 117.56 / 113.11 | -3.79% | 155.93 / 153.44 | -1.6% |
| 2026-10-01 | 186.69 / 189.99 | 1.77% | 113.09 / 111.67 | -1.26% | 153.43 / 161.22 | 5.08% |
| 2026-10-02 | 189.98 / 183.31 | -3.51% | 111.65 / 112.93 | 1.15% | 161.23 / 160.34 | -0.55% |
| 2026-10-03 | 183.33 / 184.21 | 0.48% | 112.93 / 113.31 | 0.34% | 160.35 / 163.27 | 1.82% |
Three days tell most of the story. On 2026-09-30, COINUSDT went from 190.47 USDT to 186.7 USDT, down 1.98%, while HOODUSDT went from 117.56 USDT to 113.11 USDT, down 3.79%, the heaviest drop of the week. On 2026-10-01 the three split: COINUSDT recovered from 186.69 USDT to 189.99 USDT, up 1.77%, and MSTRUSDT jumped from 153.43 USDT to 161.22 USDT, up 5.08%, while HOODUSDT kept sliding from 113.09 USDT to 111.67 USDT, down 1.26%. Then on 2026-10-02 COINUSDT fell from 189.98 USDT to 183.31 USDT, down 3.51%, its worst day of the week, while HOODUSDT actually recovered from 111.65 USDT to 112.93 USDT, up 1.15%.
Listing dates differ too: HOODUSDT listed on 2026-02-02, while COINUSDT and MSTRUSDT both listed on 2026-02-09, all as equity USDT-margined perpetual contracts. That means the weekly samples are not the same length: 34 weeks for COINUSDT and MSTRUSDT, 35 weeks for HOODUSDT.
Putting this week back into the sample
Of COINUSDT's 34 weeks, 26 were stronger than this one, so -6.02% sits on the weaker side of the record. The stronger weeks vary widely: the week of 2026-08-17 ran from 149.28 USDT to 188.36 USDT, up 26.18%; 2026-04-13 ran from 165.71 USDT to 201.21 USDT, up 21.42%; 2026-06-29 ran from 149.07 USDT to 174.48 USDT, up 17.05%; 2026-09-14 ran from 171.97 USDT to 195.42 USDT, up 13.64%. Some were tiny, like 2026-04-20 from 201.25 USDT to 201.31 USDT, up 0.03%, and 2026-09-21 from 195.43 USDT to 195.99 USDT, up 0.29%.
For HOODUSDT, 25 of 35 weeks were stronger than this one. Its strongest weeks include 2026-04-13 from 68.82 USDT to 89.92 USDT, up 30.66%; 2026-05-25 from 75.03 USDT to 95.68 USDT, up 27.52%; and 2026-08-31 from 104.94 USDT to 126.57 USDT, up 20.61%. For MSTRUSDT, 15 of 34 weeks were stronger, and its 1.45% was the only positive weekly move among the three; its stronger weeks include 2026-06-29 from 82.37 USDT to 107.3 USDT, up 30.27%; 2026-08-17 from 93.83 USDT to 120.7 USDT, up 28.64%; and 2026-04-13 from 126.82 USDT to 162.83 USDT, up 28.39%.
What the trending posts say
Trending posts on Square argue (a paraphrase, not the site's view) that the US community bankers' lawsuit over OCC crypto bank charters resets the bar for compliance paths, so whoever already holds a charter or has a working compliance channel is relatively better off. On that reading, the news is treated as a positive for compliant crypto trading platforms and for companies holding crypto on their books.
Under that logic COINUSDT and HOODUSDT sit in the directly named bucket, while MSTRUSDT falls into the treasury-holder bucket. The tape did not answer so neatly: the two named names both fell this week, while MSTRUSDT, placed in the other bucket, closed positive. The trending post gives a narrative frame, not a price conclusion, and those two things need to be kept apart.
Three things worth being blunt about
First, gaps matter on equity-style contracts. Open prices and prior closes often do not line up: COINUSDT opened at 196 USDT on 2026-09-28 while 2026-09-27 closed at 195.99 USDT, and opened at 186.69 USDT on 2026-10-01 while 2026-09-30 closed at 186.7 USDT. That small mismatch means the fill you get chasing a headline may not be the price on the candle you saw.
Second, high leverage turns a narrative into an incident. COINUSDT printed a -3.51% day this week and HOODUSDT printed -3.79%; in spot that is volatility, in high-leverage perpetuals it is something else. The trending post is about a long-run charter and compliance story, but perpetuals settle daily or even hourly, and the time scales do not match.
Third, funding rates and the fact that the best week is only obvious in hindsight belong together. The weeks that gained 26.18%, 30.66% or 30.27% were labelled afterwards; nobody knew at the time. This week's -6.02% is not an endpoint either. Holding overnight costs funding, and being right on direction while funding keeps biting still distorts the result.
On fees
Binance's default maker fee on perpetual contracts is 0.02% and the default taker fee is 0.05%. The rebate ratio is 20%, which puts the effective maker fee at 0.016% and the effective taker fee at 0.04%. All three contracts are equity USDT-margined perpetuals and are charged at the default tier rather than a separate schedule for equity underlyings.
Source: https://fapi.binance.com/fapi/v1/exchangeInfo
Data as of 2026-10-04; 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.