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Why Shares of Coinbase Are Rising Today

·2 min read
Why Shares of Coinbase Are Rising Today
In this article:
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Shares of the large U.S. crypto exchange Coinbase (NASDAQ: COIN) are trading roughly 5.5% higher as of 10:57 a.m. ET today after the company recently joined the Fortune 500 list and as the broader crypto market rises. Coinbase also became the first crypto company yesterday to join the Fortune 500 list, which is a list of the 500 largest companies in the U.S. ranked by revenue. Coinbase in fiscal year 2021 generated $7.8 billion of revenue to come in at number 437 on the list.