Coinbase Stock Hits Record High of $375, Boosted by Regulatory Developments and Stablecoin Bill

On the 27th, the stock price of Coinbase (COIN), a leading US cryptocurrency exchange, closed at $375.07, up approximately 9.7% from the previous day, marking a new all-time high since its listing. The previous record was $357.39 in November 2021. As Bitcoin (BTC) recovers amid tensions in the Middle East, cryptocurrency-related stocks continue to rise. On the same day, the major US stock index, the S&P 500, also recorded its highest ever at 6,141 dollars. Stocks of Circle, which had plummeted the previous day, also rebounded, rising by 7.5%. Related: Coinbase stock surges over 9%, buoyed by inclusion in the S&P 500 index. The main reasons for the stock price increase include...