Coinbase shares are up 35% since the SEC sued the crypto exchange for allegedly selling unregistered

Coinbase shares tumbled approximately 20% in early June following the Securities and Exchange Commission’s blockbuster lawsuits against Binance and then Coinbase. But Coinbase stock has bounced back, rising some 35% after dropping to a low of about $51 on the day that the SEC sued the U.S.’s largest crypto exchange. As of Wednesday morning, shares were trading near $70, and the publicly traded company’s market capitalization has risen to about $16.4 billion. The resurgence of Coinbase mirrors the broader boomerang of the crypto market in June, has lifted other cryptocurrencies and injected optimism into an industry that was reeling from a battery of enforcement from the federal government.

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