Coinbase stock surged for a second straight session after White House push for crypto market-structure legislation collided with a sharp rebound in Bitcoin. This combined to give COIN one of its strongest 24-hour moves in months.
COIN closed Wednesday at $160.20, up 9.55% from the previous close of $146.23. The rally accelerated before Thursday’s opening bell, with shares climbing another 7.77% to $172.64 in premarket trading. That puts Coinbase roughly 18% above Tuesday’s close in less than 24 hours.
Coinbase stock price (Source: Google Finance)
Trump’s crypto push lifts Coinbase stock
The policy catalyst came after Coinbase CEO Brian Armstrong joined President Donald Trump, regulators and other industry executives at a White House crypto event on Wednesday.
Trump urged Congress to pass a “fair version” of the CLARITY Act, which is designed to establish clearer rules for digital assets and define regulatory responsibilities across agencies including the SEC and CFTC. The legislation is still delayed in the Senate, but lawmakers are expected to revisit it after the August recess.
For Coinbase, clearer US crypto rules could have an outsized impact. Regulatory certainty could make it easier for the company to expand trading products, institutional services and other on-chain offerings while reducing the legal uncertainty that has historically weighed on crypto exchange valuations.
Bitcoin rally adds another catalyst
Bitcoin’s rebound is providing a second tailwind. BTC climbed above $68,000 on Wednesday and continued higher Thursday.
The macro backdrop has also helped. The US Treasury announced that it would at least double the size of certain long-duration bond buybacks from $2 billion to $4 billion per operation. The announcement initially pushed long-term yields lower and improved appetite for risk assets including stocks, gold and cryptocurrencies.
What makes the Coinbase rally more impressive is that the company is becoming less dependent on Bitcoin trading than in previous cycles. Coinbase reported $555 million in subscription and services revenue during the second quarter, which represented 48% of net revenue. Its share of crypto trading volume also reached a record 10.3%.
Still, COIN is well below its October 2025 high of $387.27. The next test is whether Bitcoin can hold its breakout and whether Washington’s CLARITY Act push translates into actual legislation.
Source: https://coinpaper.com/34476/why-is-coinbase-stock-surging-coin-jumps-18-in-24-hours
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