Shares by Coinbase Global Inc. closed at its highest level ever: up 5.5% — to $375.07. The previous high of $357.39 was set in November 2021, just a few months after the company went public.
The lowest price was in 2022 after the FTX exchange collapse. Since then, Coinbase shares have soared by more than 1000% thanks to the pro-cryptocurrency policy of US President Donald Trump.
A new phase of growth began after the US Senate passed the draft law on dollar stablecoins which are seen as a promising payment method. Coinbase shares rose by more than 45%, as the exchange has a revenue sharing agreement with the public issuer of stablecoins Circle Internet Group Inc.
Also in May Coinbase becomes the first cryptocurrency company to be included in the S&P 500 index.
Source: Bloomberg
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