Coinbase stock is surging
Digest more
The company is the first of its kind to join the landmark index. Cryptocurrency skeptics and fans alike say that gives the virtual tender a stamp of legitimacy, but can’t agree if it’s warranted.
Coinbase had its best day since just after last year’s presidential election, as investors bought shares ahead of the company’s inclusion in the S&P 500.
Even as the top digital asset dips below $104K, crypto-linked equities—including Coinbase, Robinhood, and major miners—are flashing green.
Coinbase joins S&P 500 as first crypto firm, marking mainstream finance milestone amid market dominance and political support.
Coinbase stock jumped as much as 18% as the crypto platform was set to become the first and only crypto company in the S&P 500.
Crypto exchange Coinbase (COIN) is soaring 16% early Tuesday after the Monday evening announcement of its inclusion into the S&P 500. COIN will be added to the S&P 500 index after the close on Friday,
CEO Brian Armstrong added that Deribit’s acquisition is his company’s “biggest move yet” to expand internationally.