Coinbase Joins S&P 500 As the First-Ever Crypto Firm

By: cryptosheadlines|2025/05/12 22:45:03
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Coinbase Global Inc. will join the S&P 500 index, replacing Discover Financial Services, effective before the market opens on Monday, May 19. S&P Dow Jones Indices announced the change late Monday.The move follows Capital One Financial’s acquisition of Discover Financial, a deal expected to close soon pending final conditions. Coinbase Stock Surges After S&P 500 InclusionCoinbase becomes the first cryptocurrency-focused company to be included in the S&P 500. Following the announcement, Coinbase shares rose more than 7% in after-hours trading.Coinbase Stock Price. Source: Google FinanceThe inclusion comes shortly after Coinbase agreed to acquire crypto derivatives exchange Deribit for $2.9 billion. The deal includes a $700 million cash payment, with the remainder in Class A stock, potentially delaying its finalization.Despite the milestone, Coinbase’s latest earnings report showed mixed results. In Q1 2025, the company missed revenue expectations by $200 million.However, platform engagement remains strong. USDC balances on Coinbase increased by 49% quarter-over-quarter, signaling resilience among its user base despite financial headwinds.Coinbase’s addition to the S&P 500 marks a significant moment for the cryptocurrency industry’s growing integration into traditional finance.DisclaimerIn adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.Source link

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