BUZZ-Coinbase Global rises after SEC decision to drop lawsuit

Reuters

Feb 21, 2025

** Shares of cryptocurrency exchange Coinbase Global COIN.O jump 4.6% premarket to $268.50

** Co says U.S. Securities and Exchange Commission to drop lawsuit against it, ending legal battle that began in 2023

** Lawsuit had alleged COIN facilitated trading in cryptocurrencies that should have been classified as securities, and targeted Coinbase's staking program

** SEC has shifted to a more crypto-friendly approach after Donald Trump's election as U.S. President

** COIN rallied following Trump's election in November, along with other crypto stocks and bitcoin on hopes for easier regulation

** However, stock has fallen over 26% from 2024's high touched in December

** Up to Thursday's close, COIN up 3.3% in 2025

(Reporting by Lisa Mattackal in Bengaluru; Editing by)

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