Coinbase Stock Surges 15.2% on Trump Endorsement and Crypto Rally
Shares of Coinbase jumped 15.2% after former President Donald Trump met CEO Brian Armstrong and backed the company's stance on stalled crypto legislation, while Bitcoin rallied nearly 5% to above $71,000. The stock is down 11.1% year-to-date at $210.29, almost 50% below its 52-week high.
1. Presidential Meeting and Endorsement
On March 4, former President Donald Trump met privately with Coinbase CEO Brian Armstrong and publicly supported the company's position on stalled crypto legislation, bolstering investor confidence in its advocacy efforts.
2. Cryptocurrency Market Impact
The broader digital asset market rallied, with Bitcoin climbing nearly 5% to over $71,000, its highest level in more than three weeks, lifting sentiment across crypto-focused equities.
3. Stock Performance Metrics
Coinbase shares surged 15.2% in the afternoon session while the stock remains down 11.1% year-to-date at $210.29, nearly 50% below its 52-week high of $419.78 from July 2025.