Cryptocurrency exchange Coinbase (Nasdaq: COIN) reached an all-time high of $382 on Thursday before closing at $369.21, a 43% price appreciation on a year-to-date basis, according to data from Yahoo Finance. Experts attributed the rally to the bullish sentiment over crypto legislation that may soon be signed into law later in the year. The Guiding and Establishing National Innovation for U.S. Stablecoins Act or simply, GENIUS Act was passed by the U.S. Senate on June 17 and now awaits a vote in the House. Another bill, the Digital Asset Market CLARITY Act of 2025 which seeks to provide clear rules around regulatory jurisdiction for crypto assets may also be presented and voted on soon. Passage of both bills would bode well for Coinbase which is not only the largest crypto exchange in the U.S. but is also the primary distributor of USDC, the second-largest stablecoin in the world.
Coinbase Stock Hits All-Time High
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