币界网报道：Coinbase shares surged 53% year-to-date as the crypto exchange benefits from regulatory clarity and product expansions. The Nasdaq-listed firm gained momentum after securing limited SEC approval for crypto futures trading and launching its international derivatives exchange. CEO Brian Armstrong cited "regulatory tailwinds" as institutional adoption grows, with the platform's institutional assets under administration rising to $122 billion. Recent milestones include winning a court ruling against the SEC and receiving MiFID II licensing in Europe. The company expanded offerings with Wallet-as-a-Service for enterprises and Base blockchain for developers, while maintaining $5.5 billion in corporate cash reserves. Analysts note Coinbase's diversified revenue streams now include stablecoin interest and blockchain rewards, though regulatory uncertainties persist as the SEC lawsuit continues.