Robinhood Markets Inc. (NASDAQ:HOOD) stock surged more than 12% Friday, driven largely by a sharp rally in Bitcoin (CRYPTO: BTC) and renewed optimism over U.S. cryptocurrency regulation.
Bitcoin rose 7.52% over the past 24 hours to $77,703.74, according to CoinMarketCap. Meanwhile, the Nasdaq was up 0.02%, while the S&P 500 gained 0.28%.
White House Crypto Summit Boosts Sentiment
Crypto sentiment gained momentum after policy updates from a White House cryptocurrency summit Wednesday.
The meeting included CFTC Chairman Michael Selig, SEC Chairman Paul Atkins and executives from Coinbase Global Inc. (NASDAQ:COIN), Robinhood, Ripple and Kalshi.
