Why Shares of Coinbase, Silvergate Capital, and CleanSpark Are Rising Today

Shares of several crypto stocks rallied today along with the broader cryptocurrency market. Cryptocurrencies seemed to be enjoying a nice bump like the rest of the stock market, as tensions between Russia and Ukraine ease, at least for the time being.

Shares of the large cryptocurrency exchange Coinbase Global (NASDAQ: COIN) traded 5.6% higher as of 11:28 a.m. ET today, shares of the crypto bank Silvergate Capital (NYSE: SI) traded nearly 7% higher, and shares of the Bitcoin-mining company CleanSpark (NASDAQ: CLSK) traded nearly 14% higher.

Earlier this morning, news outlets reported that Russia had withdrawn some of its troops from the Ukrainian border, although troops remain and the situation still seems uncertain. The Associated Press reported this morning that Russian President Vladimir Putin is ready to discuss security proposals with the U.S. and NATO. It's still unclear if a Russian invasion is off the table, but the escalation of tensions between the two countries seemed to arise quickly and catch the broader market off guard.

Source Fool.com