Coinbase's market capitalization surges 20%...surpasses $300 for the first time in three years

Shares of cryptocurrency exchange Coinbase soared by more than 20% on the 11th (local time), surpassing $300 (about 46,140 yen) for the first time since 2021.
The stock price increase is due to expectations that the election results will be favorable for the cryptocurrency industry.
Michael Miller, a stock researcher at Yahoo! Inc.
"Coinbase is likely to be a beneficiary of the election results," said Miller in a research note published on the 7th.
Coinbase has previously faced regulatory pressure from the U.S. Securities and Exchange Commission (SEC) and has taken legal action. The Trump administration is expected to roll out more favorable policies for the cryptocurrency industry, and Coinbase has filed suit against the SEC.
"This will likely free the staking business of cryptocurrencies from regulatory burdens," he said. "A more lenient approach to crypto assets will also have a positive impact on cryptocurrency prices."
"We expect the cryptocurrency to continue to grow at a rapid pace," Coinbase CEO Brian Armstrong said.
Armstrong) posted on Twitter (formerly Twitter) on the 6th of last month, "This President
"The candidate who won the election fully endorsed the cryptocurrency industry," he said. "Senators Warren and Gary Gensler have also endorsed the cryptocurrency industry."
Gensler's attempts to kill our industry for several years were roundly rejected by the public. This new Congress is the most pro-crypto
"The industry has seen a large upswing in major cryptocurrency-related stocks in the United States since the results of the US presidential election, and it is expected that Donald Trump's election as president will have a major impact on cryptocurrency.
Analyses suggest that this will have a positive impact on the industry.