Coinbase Stock Surges After $100 Million Settlement With Regulators

Coinbase Global was rising sharply Wednesday after the company agreed to a $100 million settlement with the New York Department of Financial Services over failures in the crypto broker’s compliance program.

Coinbase (ticker: COIN) gained 7% as investors reacted to the agreement to pay the New York Department of Financial Services (NYDFS) $50 million and invest a further $50 million over two years to bolster compliance operations.