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Coinbase (COIN) surged 10% in after hours trading after the company became the first crypto firm to join the S&P 500 index. Shares in the company pumped over 3% during yesterday’s US trading session, and continued to rally in after hours trading, according to Google Finance data . As a result of the recent surge, COIN trades at $207.22 as of 1:03 a.m. EST. Coinbase CEO Says S&P 500 Inclusion Confirms “Crypto Here To Stay” S&P Global said in a May 12 announcement that COIN will be added to the S&P 500 index on May 19. The leading US crypto exchange will replace Discover Financial Services (DFS), which was recently acquired by Capital One Financial Corp (COF), according to the announcement. “This milestone represents what the true believers, from retail investors to institutional investors to our employees and partners, knew all along: crypto is here to stay,” said Coinbase CEO Brian Armstrong in a May 12 post on X. Coinbase just becam...

A confused crypto firm that was hoping to play a major role in Changpeng Zhao’s so-called “pay-to-reach” project says it’s now “grappling with profound self-doubt” after the former Binance CEO announced he had chosen to move forward with a rival firm instead. Xnect says it had already engaged with the BNB Chain team on a launch plan, and that BNB Chain reposted its online video tutorial twice and recognized it as “the pioneering pay-to-reach protocol.” However, despite this, earlier today, Zhao announced on X that he would instead be partnering with rival firm Reachme.io. After Zhao teased his pay-to-reach plans earlier this month, Xnect, like many other startups, rushed to get onboard the project, which attempts to eliminate spam messages by charging people for the privilege of contacting you. For the record, Zhao tried charging people $120 to get in touch with him but still wasn’t happy with the quality of messages he received. According to Xnect, it ...