Debut in the Leading Index: Coinbase Replaces Discover in the S&P 500

The news arrived in the US evening: S&P Dow Jones Indices will include Coinbase in the S&P 500 effective May 19. The crypto trading platform replaces Discover Financial, which is being removed from the index due to its acquisition by Capital One. Thus, for the first time, a pure crypto company is entering the world’s most prestigious stock market barometer. Why Discover has to step aside The index reshuffle is driven by the $35 billion deal in which Capital One is acquiring Discover Financial. Since Capital One is already represented in the...