Coinbase shares surge after lawsuit tossed by judge
The U.S. crypto exchange's stock price climbed more than 23% Thursday
Rep. French Hill, R-Ark., weighs in on Biden's challenge to McCarthy to show his budget and discusses his role as chairman of the new House subcommittee overseeing cryptocurrency and fintech.
Shares of Coinbase rallied on Thursday after a federal judge shut down a proposed class action lawsuit against the cryptocurrency exchange the day before.
Shares of Coinbase rose Thursday, a day after a federal judge dismissed a proposed class action lawsuit against the crypto exchange. (istock / iStock)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| COIN | COINBASE GLOBAL INC. | 226.93 | +3.68 | +1.65% |
The U.S.-based firm's stock price surged more than 23% on the news that U.S. District Judge Paul Engelmayer dismissed the case brought in Manhattan by customers who claim Coinbase sold unregistered securities and failed to register as a broker-dealer.
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Engelmayer scrapped the plaintiffs' claims with prejudice, meaning they cannot be brought again.
Reuters contributed to this report.