Coinbase's stock surged on Aug. 29 as a federal judge favored Grayscale in their SEC dispute. COIN closed at $85.13 per share, up over 15% in a day. Coinbase, the leading US crypto exchange, has been listed on the Nasdaq since 2021.
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.for rejecting Grayscale's request to transform its Bitcoin Trust into a traditional Bitcoin ETF.
sector by investors, fuelled hopes of the potential arrival of a Bitcoin ETF in the financial landscape. Among the candidates aiming to introduce a Bitcoin ETF, Coinbase has been chosen as the potential custodian and partner for sharing surveillance data. Consequently, the company from San Francisco would engage in the sharing of data related to trading, clearing operations and customer identification. This collaborative effort aims to mitigate market manipulation risks and ensure the secure storage of the Bitcoin supporting the fund's shares.due to the SEC's hesitancy in granting approval.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Grayscale's Chief Legal Officer Talks Bitcoin ETF Decision; Bitcoin Price Rallies on Grayscale Court WinGrayscale Investments Chief Legal Officer Craig Salm joins 'First Mover' to discuss the next steps after a federal court ruled the SEC must review its rejection of Grayscale’s attempt to convert the GBTC into an ETF. Kaiko Director of Research Clara Medalie discusses the market reaction as bitcoin (BTC)'s price surged on the news. Plus, former SEC Special Counsel Hermine Wong shares insights into the impact of the SEC issuing its first enforcement action targeting NFTs.
Read more »
Coinbase shares jump 14% amid market revelry over Grayscale winCoinbase shares surged on the expectation that spot bitcoin ETFs will become a reality, which would be a boon for the company.
Read more »
First bitcoin ETF could be coming soon as court rules in favor of Grayscale over SECFirst bitcoin ETF could be coming soon as court rules in favor of Grayscale over SEC.
Read more »
Court Blasts SEC's 'Unreasonable' Denial Of Grayscale's Bitcoin Spot ETFHere’s why judges ruled overwhelmingly in favor of Grayscale in its lawsuit against the SEC.
Read more »
Court Rules SEC Must Review Rejection of Grayscale's Bitcoin ETF Bid, Bitcoin Jumps 5%The most valuable crypto stories for Tuesday, August 29, 2023.
Read more »
A spot bitcoin ETF is much closer to reality, but investors aren't there yetWell, now the SEC is in a real pickle. The U.S. Court of Appeals for the D.C. Circuit sided with Grayscale in a lawsuit against the SEC, greatly improving the chances that a bitcoin exchange traded fund will be approved. The SEC had earlier denied Grayscale’s application to convert its Grayscale Bitcoin Trust to an ETF. The problem for the…
Read more »