This week, Coinbase Global Inc. $COIN has become a central focus on Wall Street, as the cryptocurrency exchange operator posted a striking rally. The company’s stock soared by 34% over the past five trading sessions, marking its strongest weekly gain since the 2016 U.S. presidential election. This leap came just ahead of Coinbase’s addition to the prestigious S&P 500 index — a move that has underscored the growing relevance of digital asset platforms within the broader financial sector.
Recent reports indicate that Coinbase Global Inc., one of the largest cryptocurrency exchanges globally, is actively negotiating the acquisition of Deribit—the leading platform for trading Bitcoin and Ethereum options. This development could significantly impact both the cryptocurrency market and the future of Coinbase itself.
One of the largest players in the cryptocurrency market, KuCoin, has found itself at the center of a significant legal scandal. On Monday, the exchange admitted its guilt in conducting money transmission business without the necessary licenses and agreed to significant fines and restrictive measures. This development marks a pivotal moment in the regulation of cryptocurrency exchanges.
In recent months, the companies behind the cryptocurrency exchanges Kraken and Blockchain.com have strengthened their positions on the political stage. Following the elections in November, they joined a host of corporations and wealthy individuals by hiring the lobbying firm $BLDP, closely linked to former US President Donald Trump.
