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COIN Jumps 5%, HOOD Gains 4%, BTC Challenges $100K as SEC Set to Drop Case Against Coinbase
The agency's withdrawal of the lawsuit could boost crypto prices, marking a milestone in U.S. regulatory oversight for the digital asset industry.
Updated Feb 21, 2025, 7:55 p.m. Published Feb 21, 2025, 2:04 p.m.
What to know:
- Coinbase shares gained 5% pre-market on news that the SEC is set to drop charges against the exchange. Robinhood added 4%.
- Tokens alleged securities by the SEC also gained as sentiment improved.
- Bitcoin added to previous gains, nearing $100,000.
Coinbase (COIN) shares jumped 5% ahead of Friday market opening on news that the U.S. Securities and Exchange Commission (SEC) is poised to drop charges against the crypto exchange.
Popular trading app Robinhood (HOOD) — whose recent growth in at least in part thanks to crypto trading — rose 4%.
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The broader crypto market was also climbing higher with bitcoin nearing $100,000 for the first time since early February. The Coindesk 20 Index, a broad-market benhmark, was up 1.7% over the past 24 hours. Tokens that the SEC characterized as securities in previous lawsuits initiated under former chair Gary Gensler's leadership also advanced as sentiment improved, CoinGecko data shows.
The agency's potential withdrawal marks a milestone of U.S. regulatory improvements for the digital asset industry that could boost crypto prices and stocks related to digital asset trading.
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Lebih untuk Anda
Bitcoin’s Deep Correction Sets Stage for December Rebound, Says K33 Research
K33 Research says market fear is outweighing fundamentals as bitcoin nears key levels. December could offer an entry point for bold investors.
Yang perlu diketahui:
- K33 Research says bitcoin’s steep correction shows signs of bottoming, with December potentially marking a turning point.
- The firm has argued that the market is overreacting to long-term risks while ignoring near-term signals of strength, like low leverage and solid support levels.
- With likely policy shifts ahead and cautious positioning in futures, K33 sees more upside potential than risk of another major collapse.
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