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Bitcoin Rally Lifts Robinhood Stock 12%

Guavy AI Editorial Team
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Robinhood Markets Inc.'s stock surged by over 12% on Friday as investors became optimistic about US cryptocurrency regulation.

The rally was largely driven by a significant increase in Bitcoin's value, which rose 7.52% over the past 24 hours to $77,703.74 according to CoinMarketCap.

The White House Crypto Summit held on Wednesday provided a boost to crypto sentiment, with key policy updates shared by CFTC Chairman Michael Selig and SEC Chairman Paul Atkins among others.

Ronald Trump expressed his support for US leadership in cryptocurrency and urged Congress to pass the CLARITY Act, which would establish regulatory standards for digital assets.

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