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https://www.wsj.com/articles/crypto-stocks-jump-despite-looming-regulatory-pressure-f27b2df7

Crypto Stocks Jump Despite Looming Regulatory Pressure

The gains suggest investors are taking a proposed SEC rule on digital-asset platforms in stride

The shares of Coinbase Global are among the crypto stocks that surged Wednesday.Photo: Richard B. Levine/Zuma Press
By Vicky Ge Huang

Prices of crypto stocks and currencies jumped in tandem on Wednesday after the Securities and Exchange Commission proposed a rule that could squeeze digital asset platforms such as Coinbase Global Inc.

Shares of Coinbase were up 17% on the day. MicroStrategy Inc., a bitcoin-buying business-software company, rose 10%. Silvergate Capital Corp. and Signature Bank, two crypto banks that have come under pressure due to their links to collapsed crypto exchange FTX, were up 29% and 3.6%, respectively. Bitcoin, the largest cryptocurrency, rose about 9% to trade at around $24,173 as of 5 p.m. ET on Wednesday, according to Dow Jones Market Data. 

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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.