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Symbol COIN
Name Coinbase Global, Inc.
Currency USD
Sector Information Technology
IndustryGroup Software & Services
Industry Software
Market NASDAQ Global Select
Country United States
State DE
City Wilmington
Zipcode 19801
Website http://www.coinbase.com
On November 14, 2024, 18 Republican state attorneys general and the DeFi Education Fund filed a landmark lawsuit against the U.S. Securities and Exchange Commission (SEC), marking a significant challenge to the agency's stance on cryptocurrency regulation. In related developments, President-elect Donald Trump has nominated Paul Atkins as the new SEC chairman, signaling a potential shift in regulatory approach. Meanwhile, Ripple's legal battles continue, with recent victories against the SEC, as the agency faces increasing scrutiny over its actions.
Cryptocurrency stocks surged in premarket trading as bitcoin surpassed $100,000 for the first time, with MicroStrategy rising 6.1%, Robinhood 4.3%, and Coinbase 3.5%. Year-to-date, MicroStrategy has skyrocketed 542.8%, while Robinhood and Coinbase have seen gains of over 200%. Investor optimism has been fueled by expectations of a more favorable regulatory environment following Donald Trump's election victory, leading to significant inflows into leveraged MicroStrategy ETFs, which accounted for a substantial portion of the record $11 billion inflow into crypto funds in November.
Bitcoin has surged past the $100,000 mark for the first time, climbing over 50% since Donald Trump's election victory. The recent rise was fueled by the nomination of Paul Atkins as SEC head, a known crypto advocate, alongside other crypto-friendly appointments. With Trump aiming to position the U.S. as the "Bitcoin superpower," the market is experiencing unprecedented enthusiasm, reflected in the nearly 150% increase in Dogecoin since election day.
US prosecutors have charged 19-year-old Remington Ogletree for allegedly hacking into two telecommunications firms and a financial institution, resulting in $4 million in damages. He is linked to the Scattered Spider hacking group, known for attacks on major companies like MGM Resorts and Coinbase.
OpenAI has reached a milestone of 300 million weekly active users, as announced by CEO Sam Altman at The New York Times’ DealBook Summit. The company aims to grow to 1 billion users within a year, competing against rivals like Amazon-backed Anthropic and Elon Musk’s xAI. OpenAI's valuation has surged to $157 billion, bolstered by significant investments from Microsoft, while it also recently appointed its first chief marketing officer to enhance its growth strategy.
Coinbase shares are currently affected by Bitcoin's price fluctuations, trading below $94,000, its lowest in a week. Investors are taking profits as the $100,000 Bitcoin mark remains a psychological hurdle, while attention turns to Fed Chairman Jerome Powell's upcoming speech and US labor market data. Coinbase shareholders face resistance at $340, with a sustained breakthrough needed to target $369.
IG
17:11 03.12.2024
Faryar Shirzad, Coinbase's chief policy officer, anticipates swift cryptocurrency regulation in the U.S. following Donald Trump's election, citing a pro-crypto Congress and president. Key legislation, including the Financial Innovation and Technology for the 21st Century Act and the Clarity for Payment Stablecoins Act, is progressing, with hopes for passage in 2025. As Trump prepares to replace SEC Chair Gary Gensler, Shirzad expresses optimism for a change that aligns with the crypto industry's interests.
Bitcoin is poised for a nearly 40% gain in November, nearing the $100,000 mark, following Donald Trump's election victory, which has reinvigorated the cryptocurrency market. The month is set to be Bitcoin's best since February, driven by strong ETF inflows and bullish investor sentiment.As Trump’s presidency is expected to legitimize the crypto industry, factors like reduced supply from the recent halving and increasing institutional demand are anticipated to propel Bitcoin's price further, with bulls predicting it could reach $100,000 by the end of 2024.
Coinbase has decided to terminate its USDC yield program in Europe, responding to increased scrutiny related to compliance with the Markets in Crypto-Assets (MiCA) regulation. This move reflects the ongoing challenges faced by cryptocurrency platforms in navigating regulatory landscapes.
Bitcoin rebounded above $95,000, gaining 5% as investors eye the $100,000 milestone ahead of Thanksgiving. Despite a recent pullback, the cryptocurrency has surged 38% since the Nov. 5 election, with analysts predicting continued growth amid increasing institutional adoption and a pro-bitcoin U.S. administration. Ether also saw a significant rise, climbing over 7% to $3,555.82.
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