-2.06% to $195.11 from $199.21
What moved COIN
- Coinbase shares advanced 16.8% as bitcoin climbed above $85,000, providing a broad tailwind to crypto-related equities.
- The CFTC and SEC introduced joint proposals aimed at establishing an oversight framework for crypto-asset transactions.
- The SEC also set up a temporary framework enabling brokerages and trading platforms to support tokenized-equity trading, opening the door for Coinbase to launch new offerings.
- The gains came a week after the Senate’s Clarity Act failed to advance, with regulators instead moving forward under existing authority.
Sources: Benzinga
+5.75% to $173.97 from $164.51
What moved COIN
- The SEC issued conditional five-year ‘innovation exemptions’ allowing blockchain trading venues and liquidity providers to facilitate trading in tokenized representations of U.S. stocks
- SEC Chair Paul Atkins said the exemption is designed to let responsible innovation take root while maintaining investor protections and market-integrity standards
- Under the framework, eligible tokenized securities venues can use automated market makers to trade tokenized stocks without registering as traditional exchanges
- Coinbase shares climbed more than 5% in Thursday afternoon trading following the announcement
Sources: CNBC · Coindesk · CryptoTimes
+9.24% to $191.45 from $175.26
What moved COIN
- Shares gained more than 6%, with an intraday move as high as 8.7% in the afternoon session.
- Compass Point upgraded the stock to Neutral from Sell.
- Investors positioned ahead of a U.S. Senate procedural vote on the Digital Asset Market Clarity Act set for September 15, after Senate Banking Committee Chair Tim Scott said the bill has a strong chance of passing this month.
Sources: StockStory · Archyde
+7.58% to $172.35 from $160.20
What moved COIN
- Shares climbed further Thursday after a White House meeting Wednesday where President Trump met crypto executives, including Coinbase CEO Brian Armstrong, and urged Congress to pass the CLARITY Act.
- The move builds on a 9.55% gain the prior session, putting Coinbase roughly 18% higher in less than 24 hours.
- Bitcoin surged more than 11% in early trading as part of a rally that lifted crypto-adjacent stocks broadly.
Sources: Bloomberg · Benzinga · CNBC
-3.53% to $148.47 from $153.90
What moved COIN
- Coinbase shares fell in the morning session as a broad crypto downturn followed reports that the Bank of Japan was considering raising interest rates.
- Bitcoin retested the $62,000 level, and Bitcoin ETFs saw about $131 million of outflows on August 13.
- Rising U.S.-Iran tensions reduced investor appetite for riskier assets, adding pressure on crypto-linked equities.
- The SEC canceled a scheduled open meeting, citing an “unforeseen scheduling issue,” adding to uncertainty in the sector.
Sources: StockStory