Coinbase First Crypto Firm to Rocket into S&P 500, Sparks 24% One-Day Rally
- Coinbase has officially joined the S&P 500, becoming the first crypto company in the index after Discover Financial’s exit opened a spot. Its stock surged over 25%, hitting US$256.
- CEO Brian Armstrong hailed the move as validation that crypto is “here to stay”, while analysts called it a milestone that could encourage more crypto firms to go public.
Coinbase just secured a spot among America’s corporate elite after CEO Brian Armstrong announced the firm will join the S&P 500 index.
According to Armstrong, crypto “is here to stay”:
Coinbase just became the first and only crypto company to join the S&P 500. This milestone represents what the true believers, from retail investors to…
