In San Anselmo, California, Coinbase, a cryptocurrency exchange, is facing a lawsuit from the Securities and Exchange Commission for allegedly violating securities laws. The SEC claims Coinbase acted as an exchange, broker, and clearing agency without proper registration. Despite this legal trouble, Coinbase’s stock surged 12% to $243.27 as investors flocked to crypto companies like MicroStrategy and Riot Platforms. Bitcoin’s recent rally to a two-week high has sparked investor interest, with the price of bitcoin trading at around $63,500. Ethereum also saw a rise in trading volume on the Coinbase platform. Bitcoin miners, such as Riot Platforms and Marathon Digital, saw their stocks soar as the price of bitcoin increased. MicroStrategy, the largest corporate holder of bitcoin, saw a 17% jump in its stock price. Overall, the crypto market is experiencing significant growth, with companies like Coinbase reaping the benefits.
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