Coinbase stock surges to highest since April 2022 Coinbase stock surges to highest since April 2022
Regulatory compliance and global licensing achievements fuel Coinbase's stock surge to a 10-month peak.
2 min read
Updated: Nov. 24, 2023 at 9:41 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Coinbase’s COIN stock has rallied to its highest point since late April 2022 at $115, representing a 216% growth on the year-to-date metric, according to Tradingview data.
Observers have linked COIN’s price performance to the generally positive trend observed in the crypto space, where flagship digital assets like Bitcoin, Ethereum, and Solana have recorded more than 100% gains during the past year.
Why Coinbase stock is rising
Over the past year, Coinbase has emerged as one of the biggest industry players following the collapse of several crypto firms.
The exchange’s strong reputation has played a huge role in its business as it has recently touted its strong compliance-first approach following the issues of rivals like Binance.
Coinbase CEO Brian Armstrong stated this approach has been proven right, highlighting how the firm embraced “compliance to become a generational company” that can stand the test of time.
Besides that, the company also plays an active role in several spot Bitcoin exchange-traded fund (ETF) applications with the U.S. Securities and Exchange Commission (SEC).
Several applicants, including Fidelity, Invesco, WisdomTree, VanEck, and Ark 21 Shares, have surveillance-sharing agreements (SSAs) with the exchange. Additionally, the firm would be helping asset managers like Franklin Templeton custody of their fund’s BTC.
Meanwhile, the exchange has grown substantially, securing Bermuda’s licensing to launch an international exchange and offering perpetual futures trading to non-U.S. retail customers.
Additionally, it has secured licenses in several European countries, including the Netherlands, Spain, Ireland, Singapore, and Italy, as part of its expansion outside the U.S.
It has also launched several products, including creating an institutional lending service, adding new assets, and unifying its USD and USDC order books.
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Author 
Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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In this article
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Fidelity Investments
Fidelity Investments Inc., commonly referred to as Fidelity, is a multinational financial services corporation based in Boston, Massachusetts.
BlackRock
BlackRock, synonymous with global asset management, is an American multinational investment management corporation based in New York City.
VanEck
VanEck is a global investment manager with offices around the world, including New York, Australia, China, Germany, Netherlands and Switzerland.
Brian Armstrong, co-founder and CEO of Coinbase, stands at the forefront of the digital currency revolution.