Movement Alert｜Coinbase Rises 5.01% in Pre-Market Trading, Circle Receives OCC Approval to Establish National Trust Bank Boosting Crypto Sector

Market Focus07-10 20:15

On July 10, Coinbase rose 5.01% in pre-market trading, trading at approximately $165.9/share, with turnover of $19.77 million.

On the news front, stablecoin issuer Circle, which is deeply tied to Coinbase through the USDC ecosystem, received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a national trust bank. This milestone event significantly boosted overall crypto industry sentiment, with Circle also rising over 5% in pre-market trading, demonstrating clear sector linkage effects.

The rally builds on a series of positive developments for Coinbase. The company previously secured a MiCA license in Luxembourg to serve as its EU business hub, and was designated by Bernstein as an Everything Exchange given its expansion into tokenized equities, perpetual contracts, and CFTC-regulated crypto derivatives. Additionally, ARK Invest led by Cathie Wood has repeatedly added to its Coinbase position in recent weeks, purchasing over $17 million worth of shares across multiple transactions, while institutional giants BlackRock and Grayscale have continued depositing significant BTC and ETH holdings via Coinbase infrastructure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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