Coinbase Becomes First Bitcoin And Crypto Company To Join The S&P 500; Yuga Labs Transfers CryptoPunks IP to Non-Profit Foundation

Coinbase Global Inc. (NASDAQ: COIN) is officially joining the S&P 500 starting May 19. It will replace Discover Financial Services (NYSE: DFS), which is being acquired by Capital One Financial (NYSE: COF), an existing member of the index.

$20 Million IP Transfer to Infinite Node Foundation

Yuga Labs transferred CryptoPunks’ intellectual property rights to the Infinite Node Foundation. The move, valued at approximately $20 million, transitions ownership from a commercial entity to a non-profit organization. This reflects a clear intent to prioritize the preservation and community engagement of digital art. The Infinite Node Foundation has committed to a stewardship model, establishing a new advisory board with influential figures such as CryptoPunks’ creators and Yuga Labs’ co-founder.