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Bitcoin Rally Fuels Coinbase Surge Amid CLARITY Act Hopes

Guavy AI Editorial Team
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Coinbase stock surged on Thursday after Bitcoin broke past $81,000 and investors awaited a Senate vote on the CLARITY Act.

The company's shares jumped by 10.84% to reach $193.92 as increased trading volume boosted revenues and reduced legal uncertainty surrounding the exchange's business model.

The price hike of Bitcoin was the primary driver behind Coinbase's rise, as higher transaction volume directly lifted the company's bottom line due to fee revenue on every trade processed through its platform.

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