Coinbase Became First Crypto Company to Join S&P 500 as Exchange Completes Record 10 Acquisitions in 2025

TLDR:

• Coinbase became the first cryptocurrency-native company added to the S&P 500 index during 2025.
• The exchange completed 10 acquisitions including Deribit, representing the largest crypto acquisition ever.
• SEC voluntarily dismissed its case against Coinbase, ending years of regulatory legal challenges.
• Coinbase secured MiCA approval enabling regulated crypto services across all European Union member states.

Coinbase made history in 2025 by becoming the first crypto-native company added to the S&P 500 index. This milestone represents a major step forward for mainstream adoption of digital assets within traditional financial markets. 

The exchange completed its most active year for mergers and acquisitions, closing 10 deals throughout the year.

The company achieved a major legal victory when the SEC voluntarily dismissed its case against the platform. 

This dismissal ended prolonged litigation and regulatory uncertainty. Coinbase obtained permanent dismissal of all claims, ending what the company described as an unlawful regulatory campaign.

Regulatory Progress and Global Market Access

The regulatory landscape shifted dramatically in 2025 with the passage of the GENIUS Act. This legislation established federal standards for stablecoins, providing clarity for the crypto industry. 

The CLARITY Act also advanced through legislative channels to address market structure concerns. Coinbase actively advocated for both pieces of legislation.

The company secured MiCA approval in Europe, enabling operations across the EU under a single license. 

This regulatory achievement allowed Coinbase to expand services to millions of additional users. The approval required meeting stringent regulatory requirements across multiple jurisdictions.

Meanwhile, Coinbase reincorporated in Texas to align with a more innovation-friendly regulatory environment. This relocation complemented other strategic initiatives aimed at expanding market reach.

Trading Infrastructure and Institutional Services

Coinbase upgraded its U.S. trading platform with futures and perpetual futures products. These additions brought sophisticated trading tools to retail and institutional clients. The platform improvements focused on speed, reliability, and expanded client access.

Coinbase Institutional continued leading the institutional crypto market with several key launches. The division introduced 24/7 CFTC-regulated futures trading and U.S. perpetual-style futures contracts. 

The platform also enabled the first futures and spot cross-margin trading in crypto. As the largest crypto custodian, Coinbase Institutional holds $300 billion in assets under custody.

The company introduced crypto-backed loans through Morpho on Base. These loans allow users to borrow USDC against crypto collateral. 

The Bitcoin-backed loan program surpassed $1 billion in volume. Token sales also returned to the platform, offering regulated early access to new digital assets.

Base Network and Payment Innovation

Base, Coinbase’s layer-2 network, achieved Stage 1 decentralization in 2025. The network shipped permissionless fault proofs and established a 10-member Security Council. 

These developments reduced reliance on single operators while strengthening user protections.

The network expanded beyond USD stablecoins, launching 18 local stablecoins across multiple regions. These included currencies for Asia-Pacific, Latin America, and Europe to support everyday payments. 

Shopify integrated USDC payments via Base, enabling merchants to accept instant, low-cost onchain payments.

Coinbase Ventures made over 600 investments in projects across major blockchains. The investment arm hosted the first Coinbase Alumni event for former employees who became founders. 

Coinbase Developer introduced x402, an open payment standard giving developers and AI agents native wallet access. According to the company’s announcement, 2025 represented “a year of relentless shipping and execution” across all business lines.

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