Coinbase (NASDAQ:COIN) jumped 11.2% in morning trading on Thursday, as executives including CEO Brian Armstrong prepare to meet President Trump and White House officials to push for clearer digital-asset market rules. A rebound in Bitcoin amplified the move, giving the stock a one-two punch of policy optimism and stronger crypto trading activity.
According to TipRanks, Armstrong and Ripple CEO Brad Garlinghouse were among industry leaders heading into the White House talks. The firms are pressing Congress on the CLARITY Act, legislation that would set clearer jurisdiction over crypto trading. The bill, however, remains stuck in the Senate, leaving the industry more dependent on SEC and CFTC rulemaking for now.
For Coinbase, progress on U.S. market-structure legislation is a direct valuation lever. Clearer rules could expand product offerings and institutional activity on the exchange. Bitcoin’s price also matters mechanically for COIN — trading volumes, transaction fees, and investor sentiment tend to rise when BTC strengthens and fall when crypto risk appetite fades. That dynamic often makes the stock a leveraged proxy for Bitcoin.
Bitcoin rebounded toward the $65,000 level after trading near the low-$62,000s, briefly reclaiming a key resistance zone for the first time since about August 10, according to The Crypto Times. That firmer crypto tape helps explain why COIN could move harder than Bitcoin itself on the day: a policy catalyst plus higher implied trading activity. The next checkpoint is whether BTC holds above $65,000 and whether the White House meeting turns into tangible legislative or regulatory momentum — not just a one-day sentiment bounce.
Coinbase’s shares are extremely volatile, with 52 moves greater than 5% over the last year. But moves this big are rare even for Coinbase, and this one indicates the news significantly impacted the market’s perception of the business. The previous big move happened just five days ago, when the stock dropped 3.1% on a broad crypto market downturn prompted by a hawkish monetary outlook from the Bank of Japan and escalating geopolitical risks.
That downturn followed reports that Japan’s central bank was planning to raise interest rates, while rising tensions between the U.S. and Iran reduced investor demand for riskier assets. Bitcoin dropped to retest the $62,000 level, and Bitcoin ETFs saw $131 million in outflows on August 13. Adding to negative sentiment, the SEC canceled its open meeting planned for the same day, citing an “unforeseen scheduling issue,” which created further uncertainty in the sector.
Despite Thursday’s surge, Coinbase is down 31.1% since the beginning of the year. At $162.91 per share, it trades 57.9% below its 52-week high of $387.27 from October 2025. Investors who bought $1,000 worth of Coinbase’s shares five years ago would now be looking at only $656.30.
