SEC Dropping Coinbase Case Fuels Crypto Market Rally; Bitcoin Nears $100K
Coinbase (COIN) shares climbed 5% in premarket trading Friday amid reports that the U.S. Securities and Exchange Commission (SEC) is set to drop its lawsuit against the exchange.
Robinhood (HOOD), another key player in crypto trading, gained 4%, reflecting renewed investor confidence. Meanwhile, bitcoin (BTC) surged toward the $100,000 mark, hitting its highest level in weeks. The CoinDesk 20 Index, which tracks major digital assets, rose 1.7% over the last 24 hours.
Altcoins previously labeled as securities in SEC lawsuits—such as Solana (SOL) and Cardano (ADA)—also saw price gains, according to CoinGecko data.
The expected SEC move marks a major regulatory shift, potentially easing compliance risks for crypto firms and fueling optimism for broader industry growth in the U.S.
