Coinbase Global is trading at $198.42, up 4.82%, alongside gains in Bitcoin and other major cryptocurrencies.
- A report also cited short liquidations and easing Treasury yields as rally factors.
- Crypto gains lifted large-cap crypto-linked stocks, including Coinbase, which was up around 2.88% premarket. Broader indices were also higher, supporting a risk-on backdrop.
- Coinbase’s CFTC clearing approval was reported earlier this week, but available coverage does not establish it as today’s direct catalyst.