The crypto exchange is one of the big winners from the United States elections on Nov. 5.
Shares of cryptocurrency exchange Coinbase Inc. (COIN) surged more than 20% on Nov. 11, pushing the stock past $300 for the first time since 2021.
United States crypto stocks are seeing massive gains after Donald Trump’s victory in the presidential election, as many believe his win will benefit the industry, Cointelegraph Research said.
“We see Coinbase as a beneficiary of the election results as the firm has been struggling with regulatory pressure from the SEC, with the firm actively fighting the agency in court,” Michale Miller, an equities researcher at Morningstar Inc., said in a Nov. 7 research note.
