Coinbase, MicroStrategy, and Marathon Digital rise as traders anticipate Senate Banking Committee approval of regulatory clarity legislation.
Shares of Coinbase Global jumped 10% to $222 after the Senate Banking Committee moved closer to approving the Digital Asset Market Clarity Act. The bill aims to clarify SEC and CFTC jurisdiction over digital assets, benefiting U.S.-regulated exchanges like Coinbase.
MicroStrategy, holding 713,502 BTC, rose 7% to $190, while Marathon Digital, a major Bitcoin miner with 72.2 EH/s hashrate, climbed 5% to $13.40. The gains extend a strong month for crypto-linked equities, driven by regulatory optimism rather than earnings.
The rally follows Wednesday’s close of $201.80 for Coinbase, with traders pricing in a friendlier regulatory environment ahead of the anticipated committee vote. The bill’s approval would mark a key step toward clearer U.S. crypto regulations.