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Coinbase Stock Triples in 2023 After Firm Survives Crypto Chaos
A 62% rally in Coinbase Global Inc. shares this month is shining a spotlight on Wall Street euphoria around the largest US crypto exchange. In the shadow of FTX’s Sam Bankman-Fried fraud conviction and revelations at Binance Holdings Ltd., traders are rushing to snap up shares in Coinbase on hopes that it’ll see an influx of business — especially if authorities approve exchange-traded funds that target Bitcoin. That’s helped the stock more than triple in 2023, with November’s gains — which stand out even in this month’s pan-market rally — adding another $12 billion to the company’s market value. The ... (full story)