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Coinbase Shares Jump as Company Prepares to Join S&P 500

  • Coinbase Global will be included in the S&P 500 next week, becoming the first crypto company in the benchmark index.
  • Coinbase shares rose by 11% in after-hours trading, reaching just under $230, following the announcement.
  • Coinbase managed to report a profit for the last quarter, meeting the requirement for S&P 500 inclusion.
  • Despite a tough year and a disappointing first quarter, Coinbase's revenue increased to $2.03 billion, and the company announced the acquisition of Deribit for $2.9 billion.

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