PANews reported on May 13 that according to Beincrypto, the cryptocurrency exchange Coinbase (NASDAQ: COIN) will be officially included in the S&P 500 index on May 19, replacing Discover Financial Services. This is the first pure crypto business company to be included in the benchmark index. Coinbase became the first cryptocurrency-focused company to be included in the S&P 500 index.

Previously, Capital One Financial acquired Discover Financial, and the transaction is expected to be completed soon after the final conditions are met. After the news was announced, Coinbase's stock price rose by more than 7% in after-hours trading.