Coinbase (COIN) shares have reached their highest level in 18 months, following the guilty pleas of Binance and its former CEO Changpeng Zhao in the United States for money laundering and sanctions violations. On November 27th, Coinbase closed at $119.77, marking its highest price since May 5, 2022, when it closed at $114.25, according to data from TradingView. There has been little movement in after-hours trading.
This recent increase in Coinbase's share price represents a year-to-date gain of approximately 256.5%. However, it's worth noting that it is still down by 65% from its all-time high of nearly $343 on November 12, 2021.
Coinbase's share price surge coincides with the recent developments involving Binance and its founder Changpeng "CZ" Zhao, who pleaded guilty to money laundering, U.S. sanctions violations, and operating
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First found on: Binance's Guilty Pleas Propel Coinbase Shares to New Heights
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