QCP Asia Analysis: Coinbase's stock price soared, and favorable regulations drove institutional entry

PANews June 25 news, according to QCP Asia analysis, although Israel resumed limited strikes hours after the ceasefire agreement, market sentiment has turned to full risk appetite. The Nasdaq hit a new high, and the S&P 500 approached its historical peak. Coinbase (COIN) rose 12% to close at a six-month high of $344.94, mainly due to two regulatory benefits: one is that the United States passed the GENIUS Act to clarify the compliance framework for stablecoins; the other is that Coinbase was approved by the Luxembourg regulator and became the first US-funded exchange to be authorized by MiCA. Against this background, institutions continued to increase their holdings of Bitcoin. The ProCap Fund purchased $386 million in BTC, and the total amount of corporate currency holdings has reached 3.45 million.