Why did COIN move on May 29, 2026?

Coinbase (COIN) stock rose on May 29, 2026, following a major regulatory breakthrough. The Commodity Futures Trading Commission (CFTC) issued guidance and a no-action position that cleared the path for Coinbase Financial Markets to become the first U.S.-regulated Futures Commission Merchant (FCM) to offer domestic institutional clients direct access to global crypto derivatives, including perpetual futures and options. This landmark approval opened up a multi-trillion-dollar derivatives category—which accounts for roughly 80% of global crypto trading volume—previously closed to U.S. traders.