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      Coinbase Shares Rise Ahead of Senate Vote on Crypto Legislation

      Coinbase Global Inc. saw a 6% increase in its stock price to $185.34 following an upgrade by Compass Point analyst Ed Engel, who changed the rating from Sell to Neutral. This upgrade comes as the U.S. Senate prepares for a vote on the Digital Asset Market Clarity Act, a piece of legislation that aims to establish a regulatory framework for digital assets. Engel has set a price target of $177 for Coinbase, citing a rebound in Bitcoin prices and the potential implications of the upcoming Senate vote as key factors influencing the stock's performance.

      In contrast, shares of Marathon Digital Holdings Inc. (MARA) fell by 2% to $11.69 after JPMorgan downgraded the company from Neutral to Underweight, with a price target also set at $11. The downgrade reflects concerns over MARA's joint venture with Starwood Digital Ventures, which limits the miner's share of the venture's value despite a rising Bitcoin market. While MARA's stock is still up 30% year-to-date, the downgrade highlights challenges in its business model that are not alleviated by Bitcoin's price increase.

      The Senate vote on the Clarity Act is anticipated to be a significant event for the cryptocurrency sector, with analysts divided on its potential outcome. While Engel expresses skepticism about the bill's chances of passing, the vote is seen as a critical moment for regulatory clarity in the digital asset space. As the market reacts to these developments, Coinbase's performance stands in stark contrast to that of MARA, illustrating the divergent paths of cryptocurrency exchanges and mining companies in the current market environment.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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