Crypto Stocks Rally on SEC Plan and White House Meeting
Crypto stocks are surging today, with some rising by double digits. The big gainers include Strategy (MSTR), Bitmine (BMNR), Coinbase (COIN), and Circle Internet (CRCL). MSTR stock has gained the most at around 12.5%, according to TipRanks' Stock Comparison Tool.
The Wall Street analysts see MSTR with the highest upside potential of 149% from its current level, followed by CRCL at 25.22%, BMNR at 24.5%, and COIN at 23.1%. The rally is being driven in part by the SEC's new plan for Regulation Crypto Assets, which gives crypto firms clearer ways to raise money.
The plan proposes two ways for companies to raise funds without doing a full Securities Act registration: one-time offerings of up to $5 million over four years and annual raises of up to $75 million with ongoing reporting requirements. This comes as President Donald Trump is hosting top crypto executives at the White House today, alongside SEC Chair Paul Atkins and other financial regulators.
The meeting adds more optimism around future policy for the crypto industry, which has been driven higher by a sudden liquidity injection from the U.S. Treasury. The Treasury will double its long-end bond buybacks to $4 billion per operation starting September 9, boosting market liquidity and sending long-dated Treasury yields sharply lower.