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Brian Armstrong, Chief Executive Director Coinbase Global Inc., performs during the Messari Mainnet summit in New York, on Thursday, September 21, 2023.
Michael Nagl | Bloomberg | Gets the image
Base Stocks on Tuesday increased over 20% and headed for their sharp share after this President Donald Trump Victory in the election after inclusion of the crypto -exchange in the S&P 500.
S&P Global stated in the release on the end of Monday what it is Base or replacement Discover the financial services that are in the acquisition process Capital One Financial. The change will come into force before bidding on Monday.
Reserves added to the S&P 500 are often resolved in price because the funds that track the benchmark will add it to their portfolios. For Coinbase, this is the last sharp step in what was a few months old as Trump was chosen for returning to the White House.
Shares coinbase missile 31% November 6, the day after the election, on the optimism that the administration comes President Joe Biden Term in the office.
Company and CEO Brian Armstrong were Main Financial Fans In the company of 2024, they support the ticket of the candidates up and down. Coinbase was one of the leading corporate donors, giving more than $ 75 million Pac called Fairshake and its branches. Armstrong personally introduced more than $ 1.3 million with a combination of candidates.
At the time Executive order To establish a Strategic Bitcoin Reserve, legislation still has slapped. This is partly related to Trump’s personal efforts to profit from crypt through a monetary meme and other family initiatives.
Coinbase also was in American American American, in February, and 20% in March, when Trump’s tariff ads opened markets and pushed investors at risk. The rally rally has now increased about 2% a year.
Since Going publicly Thanks to the direct list in 2021, Coinbase became the most part of the US financial system when Bitcoin took off at the price and large institutions that receive a regulatory permit to create bitcoin-exchange spots.
Last week, Bitcoin Spiked, heading $ 100,000 and approaching its recording achieved in January. On Tuesday, the crypto -currency exceeded $ 104,000.
To join the S&P 500, the company must report the profit in the last quarter and have a cumulative profit over the last four quarters.
Coinbase last week report A net income of $ 65.6 million, or 24 cents per share, declined compared to $ 1.18 billion, or $ 4.40 a year earlier, after taking into account the fair value of its crystals. Revenue rose 24% to $ 2.03 billion from $ 1.64 billion a year ago.
Last week, the company also announced plans to buy Dubai DeribitMain crypto -production exchange for $ 2.9 billion. A deal that is the biggest in the crypto -industry to date will help Coinbase expand its mark outside the US
