Coinbase CEO Advocates for Stablecoin Legislation Amid 30% Stock Rally

Coinbase Global Inc (NASDAQ: COIN) stock rose 30% in the past week, driven by strong Q1 2025 results and the acquisition of Deribit. CEO Brian Armstrong is advocating for stablecoin legislation despite Congress not passing the GENIUS Act.

Key Points

Armstrong met with Senators Cynthia Lummis and Kirsten Gillibrand to discuss cryptocurrency regulations.
He emphasized bipartisan support for stablecoin laws and market structure legislation.
Coinbase's recent $2.9 billion acquisition of Deribit indicates a strategy focused on mergers and acquisitions.
Armstrong stated they seek the right opportunities in M&A rather than pursuing every option.
COIN became the first crypto firm included in the S&P 500 index, enhancing its visibility in the market.
Current trading price for COIN stock is $263, with an Oppenheimer target price of $293.