30s Summary

Coinbase’s stock has risen over 20% to exceed $300 per share following Donald Trump’s election win, amid expectations the new president would relax cryptocurrency regulations. The company had earlier battled tough government regulations. Coinbase CEO, Brian Armstrong, celebrated the development, anticipating a pro-crypto government. Separately, Coinbase reported Q3 2021 revenues of $1.2bn and a $75m profit. Meanwhile, Galaxy Digital had its busiest trading day ever on 5 November, buoyed by Trump’s win.

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Coinbase’s stock has just shot up over 20%! It went over $300 a share for the first time since last year after Donald Trump won the U.S. election. Apparently, a lot of people think this is going to be good news for crypto.

Even though Coinbase has been having a hard time with some government regulations, it looks like they’re going to benefit big time from Trump’s win. The word on the street is that Trump’s more relaxed about crypto, which might make things easier for Coinbase. And, by the way, easier regulations could also mean higher crypto prices.

Brian Armstrong, the big boss at Coinbase, is totally pumped about the election result. He says the win is great for crypto, especially since two politicians who weren’t too hot on crypto didn’t do so well. Armstrong reckons this could be the start of the most pro-crypto government we’ve ever seen.

On other news, last month Coinbase revealed they made a cool $1.2 billion in revenue, and a profit of $75 million, just in the third quarter of this year. Their main goal now is to get more people using crypto.

Not to be outdone, another crypto trading firm, Galaxy Digital, had their busiest trading day ever on November 5, when Trump’s victory got a lot of people interested in crypto. Michael Novogratz, the CEO of Galaxy, said it felt like everything they’d been working for finally paid off. So, for them it’s party time too!