Coinbase Global shares surged roughly 30% over two days in late August 2026, transforming one of the year’s most beaten-down tech names into its most talked-about momentum trade. The rally was fueled by three catalysts: Bitcoin breaking above $68,000 for the first time since March, a short squeeze that liquidated over $1 billion in leveraged positions, and a White House meeting on the federal crypto regulatory framework. The stock closed up 9.55% on August 19 near $160.20. The move comes despite disappointing quarterly results: $1.2 billion in Q2 2026 revenue, a year-over-year decline, and a net loss of $359 million. The White House meeting focused on the potential Clarity Act, legislation designed to clarify the legal classification of digital assets in the United States.
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