Coinbase Stock Soars Following Charges Against Binance!

The post Coinbase Stock Soars Following Charges Against Binance! appeared first on Coinpedia Fintech News

Coinbase shares have hit an 18-month high following charges against rival exchange Binance and its former CEO, Changpeng Zhao, for money laundering and sanctions violations in the US. Coinbase’s share price closed at $119.77 on November 27, its highest since May 2022, and is up around 256.5% year-to-date, although still down 65% from its all-time high in November 2021. The surge in share price comes as Coinbase secures custodian agreements for a slate of spot crypto ETFs pending approval from the Securities and Exchange Commission (SEC), with analysis showing Coinbase is custodian to 70% of the 19 spot crypto funds currently pending with the SEC.