Coinbase stock surges to new high ahead of GENIUS bill signing in historic Crypto Week

• Coinbase's stock reached a record high of $444 on Friday, extending its gains in 2025 to more than 70%.
• The surge comes as President Trump is set to sign the GENIUS bill into law following a successful Crypto Week.
• Coinbase recently launched its new Base app, powered by the USDC stablecoin, to replace the Coinbase Wallet.

Coinbase (COIN) registered a new all-time high on Friday, briefly rising to $444 following a successful Crypto Week, where House lawmakers passed the GENIUS, CLARITY and Anti-CBDC Surveillance bills.

COIN sets new record, crypto market tops $4 trillion following Crypto Week success

Coinbase shares surged to a new high of $444 as the market opened on Friday, following sustained bullish sentiment across the crypto sector. The stock is up 3% on the day, extending its gains in 2025 to over 70%.

The broader crypto market mirrored this momentum, briefly surpassing the $4 trillion mark for the first time on Friday.

The surge in COIN comes on the heels of a successful Crypto Week at the US House of Representatives (House), where lawmakers passed the GENIUS, CLARITY and Anti-CBDC bills on Thursday.

The GENIUS bill is expected to be signed into law by President Trump on Friday, marking the first official crypto legislation in the US. The CLARITY bill and the Anti-CBDC Surveillance State bill will head to the Senate for deliberation and final voting.

The signing of the GENIUS bill further legitimizes the crypto industry's stance, particularly with stablecoin payments, which it aims to regulate.

Coinbase could benefit from this new regulatory stamp due to its stake in Circle's USD Coin (USDC), which is the second-largest USD-backed cryptocurrency. The exchange prioritizes usage of the USDC stablecoin on its platform, including its latest Base App, an all-in-one 'everything app' introduced on Wednesday at the 'A New Day One' event.

The app integrates wallets, trading, payments, social media, and mini-applications via the Base blockchain, while utilizing USDC stablecoin for transactions. Coinbase has also recently rolled out several solutions targeting everyday internet users, including a partnership with Shopify to allow customers to make payments via USDC on the Base network.

Bernstein analysts previously raised their price target for Coinbase stock to $510 in June after it surpassed their previous forecast of $310 in Q1. The analysts stated that Coinbase's stock is misunderstood, adding that investors are not fully capitalizing on the exchange's position as a major crypto stock.

COIN is trading at $410 at the time of publication on Friday.