Coinbase Shares Rise 5% as SEC Plans to Drop Lawsuit
Coinbase (COIN) shares increased by 5% before market opening due to reports that the U.S. Securities and Exchange Commission (SEC) may drop charges against the exchange.
- The broader crypto market also saw gains, with bitcoin (BTC) approaching $100,000.
- The Coindesk 20 Index rose by 1.7% in the last 24 hours.
- Tokens previously classified as securities in SEC lawsuits experienced upward movement as sentiment improved.
- The SEC's potential withdrawal of charges represents a significant shift in U.S. regulatory stance towards the digital asset sector.
- This change could positively impact crypto prices and stocks associated with digital asset trading.