Coinbase Shares Surge 6% Amid Senate Vote Hopes

Coinbase shares rose 6% following an upgrade from Compass Point ahead of the Senate vote on the Digital Asset Market Clarity Act. The bill aims to establish clearer crypto regulations, resolving long-standing market-structure issues for digital assets and potentially benefiting Coinbase and related companies.

The upgrade comes as investors closely watch the Senate vote, which could significantly impact the crypto sector's regulatory landscape and stock prices. Meanwhile, miner MARA fell 2% after a JPMorgan downgrade citing concerns over its joint venture structure, despite Bitcoin's rally.