Key Highlights:

• Coinbase’s shares climbed 5% in pre-market trading due to news suggesting the SEC may withdraw its lawsuit against the exchange.
• Robinhood’s stock also experienced a 4% increase.
• Overall market sentiment improved, contributing to Bitcoin approaching the $100,000 mark.

Coinbase (COIN) shares surged by 5% prior to market opening following indications that the U.S. Securities and Exchange Commission (SEC) is contemplating dropping charges against the crypto exchange. Similarly, the broader crypto market is on the rise, with Bitcoin nearing the $100K milestone for the first time in months. The Coindesk 20 Index also registered a gain of 1.7% over a 24-hour span, as data from CoinGecko highlighted positive movements for tokens previously categorized as securities in SEC lawsuits led by former chair Gary Gensler.

This potential SEC withdrawal marks a notable advance in regulatory clarity within the U.S. digital asset sector, likely catalyzing price increases for both cryptocurrencies and shares associated with digital asset trading.