Coinbase & Robinhood Surge as SEC Poised to Drop Lawsuit Bitcoin Eyes $100K

Coinbase's stock (COIN) rose 5% and Robinhood's stock (HOOD) rose 4% after news spread that the SEC might drop its lawsuit against Coinbase. This positive news also pushed Bitcoin's price close to $100,000. If the lawsuit is dropped, it could signal a more lenient regulatory environment for cryptocurrencies in the US. This might lead to cryptocurrency exchanges like Robinhood adding more tokens to their platforms, potentially increasing their trading revenue. Robinhood already saw a 115% increase in fourth-quarter revenue due to higher crypto trading earnings. Some of the tokens that could be re-listed include BNB, Solana (SOL), Cardano (ADA), Tron (TRX), and Toncoin (TON). This friendlier regulatory environment could also encourage more cryptocurrency companies to go public with initial public offerings (IPOs) in the US.