Coinbase Soars 10% After Joining S&P 500, Becoming First Crypto Firm in Index

Coinbase (COIN) experienced a surge of 10% after becoming the first cryptocurrency firm to be included in the S&P 500 index. This move has significantly boosted the company’s stock price, with shares reaching $207.22 as of 1:03 AM EST following an over 3% gain during yesterday’s regular trading session. S&P Global announced Coinbase’s inclusion on May 12th, replacing Discover Financial Services (DFS), which was recently acquired by Capital One Financial Corp (COF).