Everyone owns crypto now — which feels safer amid the chaos
This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with:
The gateway to cryptocurrency exposure just got a lot bigger.
Coinbase (COIN), the $60 billion crypto exchange, has cemented its standing as the industry leader and entryway to the dicey world of digital currency. But in joining the ranks of the S&P 500, it’s advanced the crypto world’s years-long campaign to fuse itself to the global financial system.
In one sense, it’s a much-needed update. Legacy institutions are playing desperate catch-up to where people’s money, attention, and interests reside. It also underscores the walking contradictions associated with the crypto world’s rapid ascent. For…
