Coinbase stock surges after favorable federal ruling for Grayscale
In the final moments of the trading session on Tuesday, Aug.29, the value of COIN stood at $85.13 per share, a jump of 15% over the previous day's close. Coinbase's stock experienced a significant surge on Aug. 29 after reports emerged that a federal judge had ruled in favor of Grayscale in their SEC legal dispute. In the final moments of the trading session on Tuesday, Aug.29, the value of COIN stood at $85.13 per share, marking an increase of over 15% over the previous day's close. Coinbase, the largest cryptocurrency exchange in the United States, has been publicly listed on the Nasdaq since 2021. On Aug. 29, a federal court ruled that the U.S. Securities and Exchange Commission did not provide a consistent justification for rejecting Grayscale's request to transform its Bitcoin Trust into a traditional Bitcoin ETF. Screenshot showing Coinbase stock price increase. Source: Coinbase The verdict, perceived as a victory for the cryptocurrency sector by investors, ...