{"id":26060,"date":"2023-06-22T13:20:30","date_gmt":"2023-06-22T17:20:30","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/coinbase-and-crypto-stocks-rise-wall-street-competition-is-welcome-for-now\/"},"modified":"2023-06-22T13:20:30","modified_gmt":"2023-06-22T17:20:30","slug":"coinbase-and-crypto-stocks-rise-wall-street-competition-is-welcome-for-now","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=26060","title":{"rendered":"Coinbase and Crypto Stocks Rise. Wall Street Competition Is Welcome for Now.\u00a0"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000674974\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:66.66666666666666%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\"><\/div>\n<\/figure><\/div>\n<p>The launch of a major new competitor is rarely good news for a stock but cryptocurrency exchange<br \/>\n        Coinbase Global<br \/>\n       is proving the exception, at least in the short term. A new Wall Street-backed crypto exchange was giving a lift to cryptocurrency prices and related stocks on Wednesday.\u00a0<\/p>\n<p>\n        Coinbase<br \/>\n       (ticker: COIN) stock was up 2.7% in premarket trading. Cryptocurrency miner<br \/>\n        Marathon Digital<br \/>\n       (MARA) was up 4.7%, while<br \/>\n        MicroStrategy<br \/>\n       (MSTR), a business intelligence company with significant crypto holdings in its corporate treasury, was up 3.1%.\u00a0<\/p>\n<div class=\"paywall\">\n<p>All the stocks were riding the tailwind of a surge in the price of<br \/>\n        Bitcoin<br \/>\n       and other cryptocurrencies on Wednesday. Sentiment around the crypto sector was boosted by Tuesday\u2019s launch of EDX Markets, a crypto exchange backed by a consortium of traditional Wall Street firms including<br \/>\n        Charles Schwab<br \/>\n       (SCHW) and Citadel Securities.\u00a0<\/p>\n<p>Investors look to be relieved that there is institutional interest in the crypto sector which could secure its future in the U.S. Crypto stocks have been under pressure since the Securities and Exchange Commission charged<br \/>\n        Coinbase<br \/>\n       and its rival Binance earlier this month, alleging that the crypto exchanges had sold unregistered securities. <\/p>\n<p>The good feeling in the sector might not last. While EDX\u2019s launch offers a potential path forward for crypto trading in the U.S., its limited offering of trading options is a sign of how regulatory pressures are still shaping the industry.\u00a0<\/p>\n<p>\u201cWe view an eventual outright [cryptocurrency] ban as highly unlikely as adoption is already too widespread, but regulatory requirements will only increase in the coming months and years,\u201d wrote Claudio Wewel , a currency strategist at asset manager J. Safra Sarasin, in a research note. \u201cThroughout this process, the crypto space is likely to consolidate further before hitting a bottom.\u201d<\/p>\n<p>Write to Adam Clark at adam.clark@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/coinbase-crypto-stocks-bitcoin-edx-969e7571?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The launch of a major new competitor is rarely good news for a stock but cryptocurrency exchange Coinbase Global is proving the exception, at least in the short term. A new Wall Street-backed crypto exchange was giving a lift to cryptocurrency prices and related stocks on Wednesday.\u00a0 Coinbase (ticker: COIN) stock was up 2.7% in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19333,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-26060","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Coinbase and Crypto Stocks Rise. Wall Street Competition Is Welcome for Now.\u00a0 | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The launch of a major new competitor is rarely good news for a stock but cryptocurrency exchange Coinbase Global is proving the exception, at least in the\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=26060\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coinbase and Crypto Stocks Rise. 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