Why Shares of Coinbase, Silvergate Capital, and Hut 8 Mining Corp Are Rising Today

Shares of several crypto stocks moved higher Tuesday, largely because traders started to get hopeful that the Fed might pivot toward a less aggressive fiscal policy, which would likely help cryptocurrencies and tech stocks. Shares of crypto exchange Coinbase (NASDAQ: COIN) were trading nearly 10% higher as of noon ET. Meanwhile, shares of crypto-focused bank Silvergate Capital (NYSE: SI) were up nearly 6%, and shares of Hut 8 Mining Corp (NASDAQ: HUT) were up 8.4%.