Strategy shares rose more than 3% to $136.60 in Friday’s premarket session after the Securities and Exchange Commission announced a five-year exemption related to tokenized stock trading and the Commodity Futures Trading Commission issued a no-action stance for certain passive software providers working with regulated entities. Bitcoin gained 2.3% to $78,112 over the previous 24 hours and has risen about 1.3% since Monday, although it remains roughly 38% below its all-time high established last October. Coinbase and Robinhood also advanced 3.1% and 3.5%, respectively, in premarket trading. The gains followed the Senate’s rejection of the CLARITY Act and a Federal Reserve rate increase, developments that produced less market damage than investors had anticipated. Strategy trades about 5.2% above its 20-day simple moving average of $129.57 and 24.3% above its 50-day average of $109.61, but remains just below its 200-day average of $137.13. Its MACD remains below the signal line, while the 50-day average is below the 200-day average. Analysts nevertheless maintain a Buy consensus, with an average price target of $232.82. Coinbase had earlier recovered 3.74% to $170.40 after the SEC framework was announced; its global trading-volume share reached a record 10.3% in the second quarter, while prediction-market volume and revenue exceeded $100 million on an annualized basis.