CoinbaseCOIN

just proved that sometimes being misunderstood pays off handsomely. The crypto platform rocketed to all-time highs Thursday, surpassing levels not seen since its 2021 debut. Bernstein called it the “most misunderstood company” and bumped its price target to $510 amid a favorable shift of regulatory winds.

• Up 45% YTD and now featured in the S&P 500,COIN
  dominates in US crypto trading and stablecoin issuance — while scaling into institutional custody and options trading.
• Its ascent follows a mixed Q1 and $400M data breach — lifted by crypto’s surge as peers like CircleCRCL
  , RobinhoodHOOD
  , and MicroStrategyMSTR
  rallied 156%, 114%, and 28% this year, respectively.

Perfect timing: Coinbase’s Thursday run-up came as the Trump administration ordered Fannie Mae and Freddie Mac to count crypto as mortgage assets without requiring dollar conversion. The directive specifically mentions US-regulated exchanges like Coinbase, potentially creating a massive new revenue stream as homebuyers tap crypto holdings for loans. Combined with the GENIUS Act establishing federal stablecoin frameworks, Coinbase finds itself at the center of crypto’s mainstream integration. From misunderstood outsider to a foundation of the housing market — talk about living the American Dream.