Coinbase stock is surging
Digest more
Coinbase had its best day since just after last year’s presidential election, as investors bought shares ahead of the company’s inclusion in the S&P 500.
Investors jumped on shares of Coinbase Global after the Monday night news that the crypto exchange will join the S&P 500 next week.
Crypto exchange Coinbase (COIN) is soaring 16% early Tuesday after the Monday evening announcement of its inclusion into the S&P 500. COIN will be added to the S&P 500 index after the close on Friday,
Even as the top digital asset dips below $104K, crypto-linked equities—including Coinbase, Robinhood, and major miners—are flashing green.
Coinbase joins the S&P 500, marking a milestone for Bitcoin, further highlighting Bitcoin’s strong performance, outperforming gold and the S&P 500 over the years.
The deal with Deribit includes $700 million in cash and 11 million shares of Coinbase Class A common stock, according to the companies, making it one of the largest deals in the i
CEO Brian Armstrong added that Deribit’s acquisition is his company’s “biggest move yet” to expand internationally.