Coinbase Global, Inc. (COIN) experienced a positive trading day, buoyed by favorable macroeconomic indicators and a partial legal win. The broader cryptocurrency market also rallied, with Bitcoin's significant surge following a lighter-than-expected inflation report, which bolstered risk assets. The Bureau of Labor Statistics reported a 0.2% increase in the producer price index for December, below the anticipated 0.4%, providing a boost to the market. Additionally, Coinbase's partial legal victory against the SEC, where a federal appeals court criticized the SEC's handling of Coinbase's petition for clearer digital asset regulations, further improved investor sentiment.
The Yieldmax Coin Option Income Strategy ETF (CONY) rose 1.91% to $12.30 as of 4:40 PM on Tuesday, January 14.