Cryptocurrency platform Coinbase is joining the S&P 500
There is a change coming to the S&P 500, starting next Monday, out goes Discover Financial Services — the credit card company is being acquired by Capital One — and in goes Coinbase, the crypto trading platform with a market capitalization upwards of $60 billion.
American University law professor Hilary Allen has published several papers on the threats cryptocurrencies pose to the financial system. She’s testified before Congress in favor of stronger crypto regulation.
But just like millions of other Americans, she also has money in an index fund that tracks the S&P 500, which means soon, she’ll own Coinbase stock.
“Oh, now this is profoundly uncomfortable,” said Allen. “Yes, yes I will. Hilary Allen, Coinbase shareholder,…
