Coinbase's stock surges to a new all-time high after the GENIUS Act vote and Base App rebrand.
SEC Chair Paul Atkins supports regulatory changes to accommodate tokenization, potentially easing restrictions on tokenized securities.
XRP's price jumped 7.8% in 24 hours, positioning it for a possible retest of its 2018 high near $3.84 and potentially advancing toward $4.00.
The cryptocurrency market is experiencing a significant surge, driven by recent developments. Coinbase Global (COIN) shares surged to a new all-time intraday high on Friday, following a remarkable week of cryptocurrency regulation in the United States and the announcement of upcoming product enhancements. This bullish trend can be attributed to investor reactions to the signing of the GENIUS Act and the launch of Coinbase's latest Base App. Investors are growing increasingly optimistic about the future of digital assets.
At the same time, SEC Chair Paul Atkins initiated a possible policy change to facilitate tokenization, and XRP surged toward multi-year highs as the technical signals indicated additional upside. Let’s check out our Crypto news today!
Coinbase stock skyrocketed to an all-time intraday high of $432.40 on Friday, marking a robust bullish response to the latest developments in US crypto regulations and the company's expanding product plan. The new record was achieved days after the stock had marked an all-time closing high due to expectations related to the GENIUS Act and Coinbase's release of the Base App.
The company’s IPO priced shares initially at $250 in April 2021. The stock opened at $381, touched a high of $429.54, and closed the day at $328.28. Now, with the market responding positively to both macro and internal developments, Coinbase’s market cap crossed $100 billion earlier this week for the first time.
The rally came after a historic vote in the U.S. House of Representatives. The GENIUS Act, a bill defining federal regulations on stablecoins, has passed Congress, marking a change in the level of regulatory clarity. Coinbase President Emilie Choi called the bipartisan vote a “giant step toward cementing America’s dominance in crypto and tech innovation.”
Coinbase also launched its new Base App this week. This product consolidates trading, social tools, and payments under its Ethereum Layer 2 Base network. It replaces the Coinbase Wallet and expands the firm’s focus beyond exchange services into broader financial ecosystems.
Coinbase aims to increase the adoption of stablecoins and retain users by offering a 4% APY on USDC. According to Bernstein analysts, this will enable Coinbase to generate a greater share of payments and deposits within its expanding financial system.
Coinbase also re-entered the Apple App Store’s top 100 rankings this week, signalling renewed interest from retail users. Bernstein maintained its “outperform” rating for COIN stock and set a price target of $510. The stock has climbed nearly 70% in 2025 alone.
Meanwhile, SEC Chair Paul Atkins expressed support for regulatory changes to accommodate tokenization. Speaking during a Friday event, Atkins revealed that the SEC is exploring an “innovation exemption” to allow new trading models and ease restrictions on the development of tokenized securities.
He remarked, “If it can be tokenized, it will be tokenized,” acknowledging blockchain’s role in transforming asset infrastructure. Unlike his predecessor, Gary Gensler, Atkins is more pro-crypto. He emphasised that blockchain could bring transparency, risk reduction, and operational efficiencies to U.S. financial systems.
Following the passage of the GENIUS Act, Atkins reiterated that stablecoins will fall under banking oversight, not securities laws. He stressed that the new law assigns primary responsibility to the Treasury and Federal Reserve. The law is expected to take effect 18 months after final regulations are issued.
Still, not all lawmakers agree. Senator Elizabeth Warren criticized the bill for leaving consumers exposed to fraud and manipulation. In contrast, the crypto industry welcomed the bill as a breakthrough. Ethereum developer Eric Conner said it confirms that “DeFi is winning the regulatory argument.”
XRP joined the crypto market rally this week, jumping 7.8% in 24 hours from $3.25 to $3.47. The breakout represented an active movement, resulting in a push past the resisting price of $3.40, which turned into support at 3.42-3.43. The trading volumes on the platform were 490 million XRP, which exceeded the daily average, indicating high market participation.
Furthermore, analysts noted that the breakout positions XRP for a possible retest of its 2018 high near $3.84. Charts indicate consolidation near $3.45, with bullish momentum sustained by whale accumulation and institutional flows. If the price clears $3.53, XRP could advance toward $4.00 in the short term.
The addition of XRP to the Grayscale Digital Large Cap Fund's portfolio, along with increasing usage in settlements, contributed to market interest. As ETF speculation continues to rise and create significant support levels, traders are keen on the next actions of XRP above $3.64, where the price is facing resistance.