Trump's Crypto Push Boosts Robinhood as Bitcoin Nears $70K
Ronald Trump's call for Congress to pass digital asset legislation has sparked renewed momentum in the crypto market, sending shares of Robinhood Markets (HOOD) soaring by over 4% at Thursday's open.
The rally comes after Bitcoin crossed the $70,000 threshold, adding fuel to a broader crypto-equity advance. Coinbase Global (COIN) also rose 6% at the open, while Nasdaq futures slipped 0.10% and S&P 500 futures shed 0.04%, underscoring how the day's gains were concentrated in crypto-linked names.
The White House meeting between Trump and executives from top crypto companies may have marked a turning point in the debate over digital asset regulation, with the President urging lawmakers to advance the CLARITY Act. The bill would establish clearer rules for digital assets and divide oversight between federal agencies.