+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