Crypto stocks jump after Biden bows out
** Shares of cryptocurrency-related companies jump premarket after President Joe Biden drops reelection bid
** Crypto miners Riot Platforms RIOT.O, Bitfarms BITF.TO, CleanSpark CLSK.O and Marathon Digital MARA.O up between 1.7% and 3.2%, while exchange Coinbase Global COIN.O jumps 1.5%
** Software firm and bitcoin bull MicroStrategy MSTR.O inches up 0.6%
** Republican candidate Donald Trump has hinted his administration would be friendly to crypto industry, saying last month he wants all remaining bitcoin to be mined in the U.S.
** "The market has not priced in a positive shift in the crypto regulatory environment," Bernstein analyst Gautam Chhugani wrote in a note
** "Bitcoin price continues to react positively to any potential improvement in odds of a Republican win, placing faith in Trump's positive comments on crypto," brokerage adds
** Trump will address Bitcoin 2024 conference in Nashville, Tennessee, on July 27
** Meanwhile, bitcoin BTC= climbs 1.2%
Reporting by Niket Nishant in Bengaluru
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