Bitcoin jumped to its highest price in more than a week Friday after Coinbase said the SEC will drop its charges, pending approval.
Bitcoin rose to its highest price in more than a week after top American crypto exchange Coinbase said that the Securities and Exchange Commission agreed to dismiss its charges against the firm.
The price of Bitcoin jumped to $99,504 on Friday morning, shortly after Coinbase CEO Brian Armstrong said on X (formerly Twitter) that the regulator’s staff had agreed to dismiss its case against the exchange. The agreement must still be approved by SEC commissioners.
“There will be no settlement or compromise,” Coinbase Chief Legal Officer Paul Grewal added on X. “A wrong will simply be made right.