What's Up With Coinbase Today?

Coinbase Global Inc COIN is trading higher Monday after Germany's financial regulatory authority, BaFin, granted the cryptocurrency exchange permission to continue its operations in Germany. 

Coinbase is the first company to be granted a cryptocurrency custody license in Germany. The license allows Coinbase to provide cryptocurrency custody services and conduct proprietary trading of cryptocurrency assets.

Coinbase may also be trading higher today amid a rebound in the cryptocurrency market. Bitcoin BTC/USD was up 4.73% at $34,193 and Ethereum ETH/USD was up 14.98% at $2,088.49 at publication time. 

Coinbase CEO Brian Armstrong also released a series of tweets in regard to the company's aim to list all crypto assets where it is legal to do so. 

See Also: Unusual Options Activity Insight: Coinbase Global

COIN Price Action: Coinbase has traded as high as $429.54 and as low as $208 since its direct listing on April 14.

At last check Monday, the stock was up 7.83% at $242.11.

Photo: courtesy of Coinbase.