Coinbase Global shares rose as much as 10.4% from Thursday’s close to reach an intraday high of $190.23 on Friday, extending a broader rally in cryptocurrencies and crypto-linked equities. COIN closed at $172.35 on Thursday, opened at $180.04 and traded at $190.08, up 10.28%, at 10:06 a.m. ET, according to Google Finance, before retreating toward $187. Bitcoin traded above $75,000, Ethereum near $2,400 and XRP around $1.38, with weekly gains of about 21%, 26% and an unspecified amount, respectively. The rally was supported by the U.S. Treasury’s decision to double buyback sizes for longer-duration government debt after the 30-year Treasury yield reached its highest level since 2007, as well as renewed optimism over U.S. crypto regulation. President Donald Trump urged Congress to pass a “fair version” of the CLARITY Act at a White House event attended by Coinbase CEO Brian Armstrong, Kraken co-CEO Arjun Sethi, Robinhood CEO Vlad Tenev and senior U.S. regulators. Coinbase also entered the rally amid investor interest in its business mix, including a record 10.3% share of global crypto trading volume in Q2 2026, its 14th consecutive quarter of positive adjusted EBITDA and $555 million in second-quarter subscription and services revenue. DBS analysts maintain $200 targets, while Bernstein analysts Gautam Chhugani and Ian S. Moore reiterated Buy ratings with $330 targets. Friday’s high left the stock about 5.1% below $200, with its next move dependent on whether crypto gains and regulatory momentum continue.