Coinbase Stock Gains 5%, Robinhood Up 4%, Bitcoin Approaches $100K on SEC’s Expected Case Dismissal

Crypto Stocks, Bitcoin Surge as SEC Moves to Drop Coinbase Case

Coinbase (COIN) shares surged 5% in premarket trading Friday following reports that the U.S. Securities and Exchange Commission (SEC) is preparing to drop its lawsuit against the exchange.

Robinhood (HOOD), which has benefited from a resurgence in crypto trading, climbed 4%, while bitcoin (BTC) rallied toward the $100,000 mark, reflecting renewed investor optimism. The CoinDesk 20 Index, a broad measure of the crypto market, gained 1.7% over the past 24 hours.

Tokens previously classified as securities by the SEC, such as Solana (SOL) and Cardano (ADA), also saw notable price increases, CoinGecko data shows.

The potential dismissal of the case signals a major shift in regulatory sentiment, potentially ushering in a new phase of institutional and retail adoption in the U.S. crypto market.

  • Related Posts

    Filecoin pares early gains, holding just above flat.

    Filecoin Loses Early Momentum, Consolidates Below Resistance Filecoin’s native token FIL$1.6314edged up 0.4% in the past 24 hours, lagging behind broader crypto markets, according to CoinDesk Research’s technical analysis model.…

    Continue reading
    BNB Surges 3% Following $1.69B Token Burn, Flips XRP in Market Cap Rankings

    BNB Reclaims Lead Over XRP After $1.69B Token Burn Lifts Price 3% BNB has regained its edge over XRP in market capitalization following its largest-ever quarterly token burn, which helped…

    Continue reading
    You have not selected any currencies to display