Coinbase shares have skyrocketed to an 18-month high, hitting $119.77 on November 27th. This is despite a 65% plunge since the November 12th all-time high of nearly $343. Its surge follows a week since rival exchange Binance and its former CEO Changpeng Zhao pleaded guilty to money laundering and violations of U.S. sanctions. This event also marked Binance's resolution with the U.S. with a $4.3 billion settlement fee. In addition, Coinbase is the custodian to 13 of the 19 spot crypto ETFs currently pending with the Securities and Exchange Commission, however they are also facing a lawsuit from the SEC due to their listing of several tokens that violated U.S. securities laws. Separately, analysis from Bloomberg ETF analyst James Seyffart shows a 65% plunge in web 3 games in '23 but with "real hits" coming in the future such as the $26M NFL Rivals NFT.



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