Coinbase stock is surging
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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.
Investors jumped on shares of Coinbase Global after the Monday night news that the crypto exchange will join the S&P 500 next week.
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,
Even as the top digital asset dips below $104K, crypto-linked equities—including Coinbase, Robinhood, and major miners—are flashing green.
Coinbase joins the S&P 500, marking a milestone for Bitcoin, further highlighting Bitcoin’s strong performance, outperforming gold and the S&P 500 over the years.
The deal with Deribit includes $700 million in cash and 11 million shares of Coinbase Class A common stock, according to the companies, making it one of the largest deals in the i
CEO Brian Armstrong added that Deribit’s acquisition is his company’s “biggest move yet” to expand internationally.
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