New York, March 4, 2026, 10:17 (EST) — Regular session
Coinbase Global, Inc. (COIN.O) surged 12.4% to $204.89 on Wednesday as bitcoin rallied back to around $72,088. Ether posted a 7.7% gain, moving up to approximately $2,093.
Coinbase is now acting as a quick, liquid stand-in for crypto risk on U.S. equities screens. When flows head back into digital assets, COIN tends to jump more than the underlying tokens.
The weekend’s turmoil has rattled markets, thanks to the U.S.-Israeli standoff with Iran. Hedging strategies aren’t holding up, and cash is suddenly back in vogue. “Oil, and the dollar, are the only two things that people want to own right now,” said Michael Arone, chief investment strategist at State Street Investment Management. Reuters
The crypto pipes are rattling. According to blockchain analytics firm Chainalysis, $10.3 million exited Iranian crypto exchanges from Saturday through Monday after the strikes kicked off. Elliptic, meanwhile, highlighted a spike in hourly outflows at Nobitex, the country’s biggest exchange.
Other U.S. crypto-related stocks climbed too as tokens bounced back. Strategy jumped 9.2%. Robinhood Markets picked up 8.6%. Riot Platforms rose 6.1%, with Marathon Digital following at 3.9%.
Traders are reworking their outlooks on rates with fresh macro numbers in play. U.S. private payrolls jumped by 63,000 last month, marking the largest monthly gain since July, according to ADP. All eyes now on Friday’s government jobs data: economists surveyed by Reuters expect a 59,000 uptick in nonfarm payrolls, with the unemployment rate holding steady at 4.3%.
Policy remains a sticking point. British and U.S. regulators aren’t on the same page when it comes to testing tokenised securities—blockchain-based stocks or bonds—according to sources who spoke with Reuters. The transatlantic digital-asset taskforce is still hashing things out. The SEC said it plans to continue working with the UK “to build consensus and harmonize rules.” Over at Britain’s FCA, officials highlighted the importance of sandboxes in “maintaining trust and integrity.” Reuters
Still, Coinbase leans hard on trading. When crypto sentiment sours, activity dries up fast. Just last month, the company reported an unexpected quarterly loss as lower volumes dented its transaction revenue, catching some off guard. David Bartosiak, a stock strategist at Zacks Investment Research, called it a story of “diversification” and “shock absorbers.” Reuters
Next up for traders: the U.S. February jobs report, slated for release March 6 at 8:30 a.m. ET. After that, the Federal Reserve meets March 17–18, and most investors are betting policymakers hold rates where they are.
