Coinbase jumped 12% on Wednesday following President Trump's latest call to help pass a law that would enable crypto firms to issue yield-bearing stablecoins.
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Shares of Coinbase
and other cryptocurrency companies surged Wednesday after President Donald Trump threw his weight behind the industry’s battle against U.S. banks over yield-bearing stablecoins — adding to momentum the firms were already feeling from bitcoin
’s bounce.
Coinbase was last up more than 12%. Other digital asset firms such as Strategy
Coinbase shares reached a 52-week high on Wednesday after a stablecoin bill passed the Senate last week.
The dispute centers on whether crypto firms like Coinbase can offer yields on stablecoins, which banks warn will siphon trillions…
The world’s largest cryptocurrency notched a 2% gain over the past 24 hours.
Coinbase and Circle rallied on Wednesday after the Senate passed the GENIUS Act, a bill that would legitimize U.S. dollar-pegged…
Industry backers hope the legislation will turn stablecoins into a mainstream form of payment.
Congress and President Donald Trump have taken steps toward regulating digital currency with the passage of a package of bills on…
