The post Coinbase (COIN) remains 27% up in 5 days despite hack fears and SEC heat appeared on BitcoinEthereumNews.com.

Coinbase (Nasdaq: COIN) is officially joining the S&P 500 on May 19, making it the first crypto-native firm to enter the index. This move triggered a 9% rally on May 16 with its shares closing at $266.46 despite facing a swirl of regulatory and cybersecurity challenges. US stocks closed the week higher after witnessing easing U.S.-China trade tensions and a tech-led rally. The S&P 500 rose 0.7% on Friday, extending its winning streak to five days, while the Nasdaq gained 0.5% after capping a strong week with a 7% gain. Meanwhile, Bitcoin (BTC) remained marginally up over the last week. COIN soars on S&P 500 entry Investors rotated back into risk assets as trade war fears temporarily eased. However, Coinbase’s inclusion in the S&P 500 followed up with a 20% surge after the announcements and subsequent upgrade by analysts. This marks a major benchmark for crypto’s relationship with mainstream finance. It also shows Wall Street’s growing acceptance of digital asset linked firms. COIN price saw a dump of more than 2% in the after-hours trading, signaling that it can drop to the $260 level when the market opens. Till then, Coinbase stock is still up by 27% in the last 5 days and 52% over the past month. Headwinds persist as reports surfaced that the US Securities and Exchange Commission (SEC) is investigating whether Coinbase misrepresented user numbers in past disclosures. This adds to the exchange’s ongoing legal battle over whether certain tokens on its platform qualify as securities. The US’s biggest crypto exchange had disclosed that cybercriminals recently demanded $20 million in Bitcoin in exchange for stolen customer data. Meanwhile, CEO Brian Armstrong has stated that Coinbase will not comply with the ransom demands. Despite these challenges, the exchange’s Q1 revenue rose 24% YoY, which was mainly due to…

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Filed under: News - @ May 17, 2025 10:21 am