Crypto Market Surge: Coinbase and Robinhood Rise

Coinbase Shares Soar Amidst SEC Developments

In the lead-up to Friday's market opening, Coinbase (COIN) saw a notable 5% rise in its share price. The increase came after reports suggested that the U.S. Securities and Exchange Commission (SEC) is likely to withdraw charges against the cryptocurrency exchange.

Robinhood and the Crypto Market's Upward Momentum

Robinhood (HOOD), known for its substantial growth driven in part by cryptocurrency trading, experienced a 4% uptick. This reflects a positive trend in the broader crypto market.

Bitcoin and the Coindesk 20 Index

Meanwhile, bitcoin (BTC) continues its ascent, nearing the $100,000 mark, a high not seen since early February. Concurrently, the Coindesk 20 Index, which serves as a broad market benchmark, recorded a 1.7% increase over the previous day.

Furthermore, tokens previously labeled as securities in SEC lawsuits under the former chair Gary Gensler's era showed advances, according to CoinGecko data. The market's buoyant mood has contributed to this upward trajectory.