Coinbase Becomes S&P Component, Wall Street Officially Admits Defeat

Early this morning, the crypto stock market welcomed an epic positive development—Coinbase (COIN) has officially been included in the S&P 500 Index, with its after-hours stock price soaring by 10%. This not only marks the first time the crypto industry has entered a mainstream financial index, but it also signifies that Wall Street has completely bowed down: traditional capital must give way to the pricing power of on-chain assets.

Data shows that Coinbase currently has a market capitalization of $65.4 billion, with 890,000 BTC held in custody (accounting for 4% of the circulating supply), and Q1 trading revenue of $1.26 billion, with institutional clients making up over 60%. This move directly slaps the SEC in the face; after all, they sued Coinbase for "illegally operating securities" last year, but now they tacitly allow it to enter the room $USDC