Coinbase rebounds and altcoins surge as SEC signals support for onchain finance rules

On May 8, 2026, altcoins like ICP, NEAR, and UNI outperformed Bitcoin, which held above $80,000, amid rising risk appetite in crypto markets. Coinbase shares rebounded 10% after a quarterly loss and a brief platform outage, buoyed by optimism around stablecoins and crypto regulation. SEC Chair Paul Atkins indicated support for new rules on onchain trading and blockchain settlement infrastructure, boosting tokenization and digital asset stocks. This regulatory clarity and strong U.S. labor data helped lift both crypto and equity markets to fresh highs.