Coinbase Rallies the Most Since Debut After Ripple Ruling
- Opinion calls into question SEC approach to market exchanges
- Coinbase will relist XRP on exchange after court ruling
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A federal court decision on a closely-watched crypto case involving Ripple Labs Inc. is taking Coinbase Global Inc. advocates back to a time when the potential for the largest US digital-asset exchange seemed almost limitless.
Shares of Coinbase rallied 24% on Thursday after the ruling was seen as potentially narrowing US Securities and Exchange Commission oversight when it comes to what can be listed on crypto trading platforms. The stock surge was the most since Coinbase jumped 31% at its debut on the Nasdaq in April 2021.