Making sense of Coinbase’s post-settlement stock bump

We learned two things about Coinbase yesterday: First, the U.S. crypto exchange will have to disburse $100 million for failing to conduct adequate background checks. And second, its stock jumped 12% in the aftermath of the news. (It’s since moderated, trading at $34.10 per share at the time of publication, roughly in line with where it traded at the very end of last year and the very beginning of this one.)
The $100 million sum is the conclusion of a settlement with the New York State Department of Financial Services, which had been investigating the company for violating anti-money laun

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