By Denny Jacob
Coinbase shares rose 4.9% in premarket trading after regulators agreed to drop a lawsuit against the company, a move that was expected after the election of President Trump.
Shares were trading around $268.58. The stock is up 55% over the last year.
The crypto firm said enforcers at the Securities and Exchange Commission will recommend dismissal of the two-year old lawsuit filed under the Biden administration that sought to regulate the company as a stock exchange.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
February 21, 2025 08:26 ET (13:26 GMT)
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