Coinbase Stock Price Jumps

Coinbase announced Thursday that they have partnered with BlackRock to offer crypto for institutional investors. BlackRock is the largest money manager in the world controlling a mind boggling $10 trillion in assets. 

The partnership puts Coinbase in a position to rapidly offer access for big time investors. The stock has popped over the past day on the great news. 

$COIN has rallied nearly 100% off lows in late July trading just below $100. Coinbase has been in the spotlight recently after investigations by the SEC into their token listings and several individuals charged with insider trading at the company. It seems Coinbase is fighting battles on all fronts.

Bitcoin has consolidated near the $23,000 level as the equities markets look to finish off another strong week. Bitcoin will always be the leading indicator for Coinbase performance, but it seems the company has more urgent issues at hand to worry about. 

What will the SEC do with Coinbase? How will regulators oversee these companies going forward?