{"id":26446,"date":"2025-05-13T05:47:19","date_gmt":"2025-05-13T05:47:19","guid":{"rendered":"https:\/\/dogewisperer.com\/coinbase-shares-jump-as-company-prepares-to-join-sp-500\/"},"modified":"2025-05-13T05:47:19","modified_gmt":"2025-05-13T05:47:19","slug":"coinbase-shares-jump-as-company-prepares-to-join-sp-500","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=26446","title":{"rendered":"Coinbase Shares Jump as Company Prepares to Join S&amp;P 500"},"content":{"rendered":"<div>\n<p>Coinbase Global will become the first-ever crypto company to be included in the benchmark index next week.<\/p>\n<p>The San Francisco-based crypto exchange will replace Discover Financial Services in the S&amp;P 500 on May 19, <a href=\"https:\/\/www.spglobal.com\/spdji\/en\/documents\/indexnews\/announcements\/20250512-1478052\/1478052_dfs5.pdf\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">according<\/a> to the release.<\/p>\n<blockquote>\n<p>\u201cThank you to everyone who made it possible for a crypto company to join the S&amp;P 500 for the first time in history,\u201d the firm stated on X.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">As the saying goes\u2026<\/p>\n<p>\u201cFirst they ignore you.<br \/>\nThen they laugh at you.<br \/>\nThen they fight you.<br \/>\nThen they add you to the S&amp;P 500.\u201d<\/p>\n<p>\u2026or something like that.<\/p>\n<p>\u2014 Coinbase \ufe0f (@coinbase) <a href=\"https:\/\/twitter.com\/coinbase\/status\/1922046840528113880?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">May 12, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Coinbase Stock Jumps<\/h2>\n<p>The S&amp;P 500 is a coveted index for large companies opening up their stock to a broader investor base. It also provides exposure to passive funds that track the benchmark and actively managed funds that may have limitations on where they can invest.<\/p>\n<p>Coinbase, the first major cryptocurrency company to go public in 2021, managed to report a profit for the last quarter, which is a requirement for inclusion in the S&amp;P 500.<\/p>\n<blockquote>\n<p>\u201cThis milestone represents what the true believers, from retail investors to institutional investors to our employees and partners, knew all along. Crypto is here to stay,\u201d <a href=\"https:\/\/x.com\/brian_armstrong\/status\/1922048865395511477\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">said<\/a> Coinbase CEO <a href=\"https:\/\/cryptopotato.com\/genius-act-gains-support-from-a16zs-chris-dixon-and-coinbases-brian-armstrong\/\" data-wpel-link=\"internal\">Brian Armstrong<\/a>.<\/p>\n<\/blockquote>\n<p>He added two further thoughts: \u201cCrypto is about to be in everyone\u2019s 401 (k)\u201d pension fund, and his goal is that in 5 to 10 years, \u201cgetting into the COIN50 index will feel as good as this.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Two other thoughts:<br \/>\n1. Crypto is about to be in everyone\u2019s 401k<br \/>\n2. My goal is that in 5-10 years, getting into COIN50 index will feel as good as this <a href=\"https:\/\/t.co\/fXfk2tJ6g8\" data-wpel-link=\"external\" target=\"_blank\">https:\/\/t.co\/fXfk2tJ6g8<\/a><\/p>\n<p>\u2014 Brian Armstrong (@brian_armstrong) <a href=\"https:\/\/twitter.com\/brian_armstrong\/status\/1922051880068305111?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">May 12, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Coinbase shares jumped 11% in after-hours trading on May 12, to come just below $230, <a href=\"https:\/\/www.google.com\/finance\/quote\/COIN:NASDAQ\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\">according<\/a> to Google Finance.<\/p>\n<p>However, the firm\u2019s shares have had a tough year, falling 41% since the beginning of 2025 as the Trump administration\u2019s trade tariffs have torn through stock markets.<\/p>\n<p>The S&amp;P 500 climbed 3.2% on Monday as the recovery from its early April slump continues, but the index remains down 37% since the beginning of this year.<\/p>\n<h2>Disappointing Q1<\/h2>\n<p>Last week, Coinbase reported a disappointing first quarter, citing a fall in crypto prices alongside the broader market, due to tariffs and economic uncertainty.<\/p>\n<p>The crypto exchange reported a net income of $65.6 million, down from $1.18 billion a year earlier. However, revenue was up 24% to $2.03 billion from $1.64 billion in the same period a year ago.<\/p>\n<p>Coinbase also <a href=\"https:\/\/cryptopotato.com\/coinbase-to-acquire-leading-crypto-derivatives-platform-deribit-for-2-9-billion\/\" data-wpel-link=\"internal\">announced plans<\/a> earlier this month to buy Dubai-based crypto derivatives exchange Deribit for $2.9 billion in the largest crypto industry deal to date.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/coinbase-shares-jump-as-company-prepares-to-join-sp-500\/\" rel=\"nofollow\">Coinbase Shares Jump as Company Prepares to Join S&amp;P 500<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase Global will become the first-ever crypto company to be included in the benchmark index next week. The San Francisco-based crypto exchange will replace Discover Financial Services in the S&amp;P 500 on May 19, according to the release. \u201cThank you to everyone who made it possible for a crypto company to join the S&amp;P 500 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-26446","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/26446","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26446"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/26446\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}