Coinbase Stock Soars 14% on BlackRock Comments and Trump's Crypto Endorsement

Coinbase shares surged 14.44% in a single trading day, closing at $208.70, driving a broad rally in crypto-related stocks. The surge was fueled by positive signals from both CEO Brian Armstrong and former President Donald Trump, injecting strong confidence into the market.

In a conversation with financial commentator John D'Agostino, Armstrong stated that the cryptocurrency industry's infrastructure is continuously strengthening. He noted that even during periods of increased market volatility, institutional participation, settlement efficiency, and regulatory clarity are steadily improving. He pointed out that major global banks have deployed or plan to integrate blockchain technology, and central banks in several countries have begun holding digital assets, indicating that the crypto economy is moving from the periphery to the mainstream.

Meanwhile, Trump publicly called for commercial banks not to hinder the development of yield-bearing stablecoins, criticizing some financial institutions for obstructing key legislative processes such as the 《GENIUS Act》. He believes that cooperation between the crypto industry and the traditional financial system is in the public interest and emphasized that Congress should accelerate the formulation of a stablecoin regulatory framework to avoid missing opportunities for technological change. This statement quickly boosted market sentiment. In addition to Coinbase, Circle's stock price rose nearly 6%, and strategic crypto funds also recorded a 9% gain. Bitcoin rebounded in tandem, returning to the $73,219 level, up more than 9% from its previous low of $63,000, reflecting investors' restored confidence in the industry's fundamentals. Market observers point out that although crypto ETFs have recently experienced outflows, institutional investors are incorporating digital assets into their long-term allocation portfolios as over-the-counter trading and spot ETFs see renewed inflows. The continuous evolution of the industry's infrastructure is giving the crypto market greater resilience and sustainability.