Coinbase Joins S&P 500 As the First-Ever Crypto Firm
WikiBit 2025-05-13 07:39
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
The 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, Coinbases 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.
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