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Coinbase will join the S & P 500 Index

Internet reports that U.S. cryptocurrency exchange Coinbase will replace Discover Financial Services, which will soon be acquired by Capital One, and officially join the S & P 500 index. The change will take effect before the May 19 transaction. Driven by the news, Coinbase shares rose 8% in after-hours trading. Since its direct listing in 2021, Coinbase has increasingly become an important part of the U.S. financial system.

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