Coinbase Stock Rised over 70% in the Past Month, Despite Regulatory Risk

Despite the Coinbase exchange facing a securities violation lawsuit in the United States, the company’s stock has been on the rise recently. Coinbase stock has added more than 70% in the past 30 days.

Notable surge was recorded in Coinbase‘s shares (COIN) in recent days. This surge in the company’s stock price is partly attributed to a agreement that the exchange managed to secure with Cboe’s BZX Exchange. Notably, the contract focuses on surveillance-sharing agreement (SSA) related to five spot bitcoin exchange-traded fund (ETF) applications.

On July 11, Cboe amended filings with the United States Securities and Exchange Commission (SEC) for the ETFs from Invesco, VanEck, WisdomTree, Fidelity and the joint fund by ARK Invest and 21Shares. Cboe said it had "reached an agreement on terms with Coinbase" to enter into the SSA.

Related: Nasdaq Refiled for BlackRock's Spot Bitcoin ETF with Coinbase as Surveillance Partner