Coinbase Stock Rises. The SEC Is Giving Up Its Case Against the Crypto Exchange. — Barrons.com

By Adam ClarkCoinbase shares were rising early Friday after the cryptocurrency exchange said the Securities and Exchange Commission was ready to drop its lawsuit against the company.Coinbase said Friday that enforcers at the SEC will recommend dismissal of a two-year-old lawsuit which sought to regulate the company as a stock exchange."SEC staff have agreed to dismiss their case against us (pending Commission approval)," the company said in a post on social-media site X.Coinbase shares were rising 4.3% in premarket trading.Dismissing the Coinbase lawsuit still requires a commission vote. The company expects that to happen next week, according to Coinbase's chief legal officer Paul Grewal, The Wall Street Journal reported.Write to Adam Clark at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.