QCP Asia: Coinbase's stock price soars, regulatory benefits drive institutional entry
ChainCatcher news, according to QCP Asia analysis, although Israel resumed limited strikes a few hours after the ceasefire agreement, market sentiment has shifted to a full risk appetite. The Nasdaq reached a new high, and the S&P 500 approached its historical peak. Coinbase (COIN) rose 12%, closing at a six-month high of $344.94, mainly due to two major regulatory positives:The United States passed the GENIUS Act, clarifying the compliance framework for stablecoins;Coinbase received approval from Luxembourg regulators, becoming the first U.S.-based exchange authorized under MiCA. Against this backdrop, institutions continue to increase their Bitcoin holdings, with the ProCap fund purchasing $386 million in BTC, bringing the total corporate holdings to 3.45 million coins.