Coinbase Surges as Dip Buyers Bet on Crypto Market Bottom

Coinbase Global Inc. ripped almost 20% higher on more than double-average trading volume, just a day after posting weak results, a sign that investors had already braced for worse.

The company posted softer trading volumes and pressure on transaction revenue, underscoring its dependence on digital-asset swings. But with the stock sliding for weeks into earnings, expectations were low and positioning defensive — leaving room for a sharp reversal.