Coinbase Global, Inc. (COIN) stock hit a record price of $429.54 on April 14, 2021.

@Roy, this matter is related to regulation and the U.S. lawmakers' passage of a landmark crypto legislation, so I’m assigning it to you.

Key Event: On July 18, 2025, Coinbase's stock hit a new all-time high of $432.40 following significant developments: U.S. lawmakers passed a groundbreaking federal regulatory framework for stablecoins and the broader digital asset industry, and Coinbase rebranded its wallet to the Base App, expanding into consumer payments and social networking. These events mark a pivotal shift in both regulatory clarity and Coinbase's ecosystem strategy.

Coinbase Stock Hits All-Time High on Landmark Crypto Legislation and Base App Rebrand

Washington D.C. - Shares of Coinbase Global, Inc. (COIN) surged to a new all-time high of $432.40 on Friday, propelled by the passage of a groundbreaking U.S. federal regulatory framework for stablecoins and a strategic rebranding of its wallet to the "Base App," signaling a significant expansion into consumer payments and social networking. This confluence of regulatory clarity and ecosystem growth marks a pivotal moment for the cryptocurrency exchange and the broader digital asset industry.

The legislative breakthrough came as the U.S. House of Representatives passed the "Guiding and Establishing National Innovation for U.S. Stablecoins Act," or the "GENIUS Act," sending it to President Trump for his expected signature. This landmark bill establishes a comprehensive regulatory framework for stablecoins, which are cryptocurrencies pegged to stable assets like the U.S. dollar. The act aims to provide consumer protection and ensure American competitiveness in the evolving global payments landscape.

In a move to capitalize on this clearer regulatory environment, Coinbase unveiled its new "Base App," a rebranded and enhanced version of its Coinbase Wallet. This "everything app" integrates trading, payments, messaging, and social features into a single platform, powered by its Ethereum layer-2 network, Base. The Base App is positioned to compete with mainstream super apps like WeChat and aims to onboard a new wave of users into the Web3 ecosystem by offering a more seamless and user-friendly experience.

The new app will feature "Base Pay" for instant USDC transactions and will support "mini apps" running on the Base blockchain. An upcoming integration with Shopify will allow millions of merchants to accept USDC payments, with U.S. consumers potentially receiving 1% cashback, a move designed to spur mainstream adoption of stablecoins.

These developments have been met with enthusiasm from investors, driving Coinbase's stock to its highest point since its 2021 IPO. The stock's rally also saw the company's market capitalization surpass $100 billion. The passage of the GENIUS Act is seen as a significant step towards legitimizing the crypto industry on a global scale and paving the way for wider adoption and real-world use cases.

The GENIUS Act, which passed with bipartisan support, is one of three crypto-related bills advanced by the House. The other two bills address the broader market structure for digital assets and prohibit the Federal Reserve from issuing a central bank digital currency. Together, these legislative efforts signal a growing recognition of the importance of the digital asset industry in the United States.

While the long-term impact of these developments remains to be seen, the immediate market reaction underscores the significance of regulatory certainty and strategic innovation in the rapidly evolving world of cryptocurrency.

Roy, focus your article on explaining why Coinbase's stock has surged, emphasizing the dual impact of the GENIUS Act's passage and the Base App rebrand. Start with a concise lead summarizing the record stock price and the key drivers. In the body, break down the significance of the GENIUS Act, particularly its role in providing regulatory clarity for stablecoins and positioning the U.S. as a leader in crypto policy. Then pivot to the Base App, highlighting its potential to transform Coinbase's consumer engagement through features like Base Pay and Web3 integration. Avoid rehashing minor details like unrelated bills or excessive product specs—keep the narrative sharp and focused on the broader implications for audiences and investors.

Coinbase Hits $432: GENIUS Act, Base App Fuel Rally

• U.S. lawmakers pass stablecoin framework as Coinbase stock reaches record highs.
• Coinbase unveils Base App, a rebranded platform for crypto payments and trading.

Coinbase Global, Inc. (COIN) hit a record stock price of $432.40 on July 18, 2025, riding the wave of two monumental developments: the approval of the GENIUS Act, a game-changing U.S. stablecoin regulatory bill, and the company’s launch of the rebranded "Base App." These milestones highlight a pivotal moment of clarity and innovation in the cryptocurrency industry, boosting investor confidence.

Reuters confirmed on July 18, 2025, that the U.S. House of Representatives passed the "Guiding and Establishing National Innovation for U.S. Stablecoins Act" (GENIUS Act), a landmark federal legislation establishing comprehensive regulations for stablecoins—digital currencies pegged to assets like the U.S. dollar. The bill, awaiting President Trump’s signature, introduces consumer safeguards and aims to position the United States as a leader in the global digital currency landscape. This long-anticipated regulatory clarity is expected to reduce legal uncertainty for stablecoin issuers, encouraging broader adoption.

On the same day, Coinbase announced the evolution of its Coinbase Wallet, now rebranded as "Base App." Positioned as an all-in-one digital finance and communication ecosystem, the app features trading, payments, messaging, and social networking capabilities. Built on Coinbase’s Ethereum layer-2 blockchain, Base, the platform introduces "Base Pay" for instant USD Coin (USDC) transactions and enables developers to integrate "mini apps" within the ecosystem. Notably, its Shopify integration promises to facilitate USDC payments for merchants, offering cashback rewards to consumers and driving adoption of stablecoins in e-commerce.

These groundbreaking initiatives propelled Coinbase’s stock to its highest price since the company’s Initial Public Offering in 2021, with its market capitalization surpassing $100 billion. Analysts have hailed the GENIUS Act as a cornerstone for legitimizing the crypto industry, while the Base App demonstrates Coinbase’s intent to lead in consumer-oriented Web3 innovation.

By aligning regulatory progress with strategic product expansion, Coinbase has solidified its position at the forefront of the crypto and blockchain revolution.