Coinbase Joins S&P 500

Coinbase's inclusion in the S&P 500 index in May 2024 marked crypto's definitive arrival in mainstream finance, outperforming #2 exchange Kraken by a factor of 3 in quarterly revenue. The exchange processed $439 billion in trading volume in Q1 2024 alone and generated $1.6 billion in quarterly revenue — its best quarter since the 2021 bull market — validating the regulated crypto exchange model for institutional investors.