Common cases Stocks soared more than 20% on Tuesday, the day after the Crypto Exchange included it in the S&P 500 the day after President Donald Trump was elected.

S&P Global said in a press release late Monday Common cases Replaces discovery financial services, which is being Capital One Financial. The changes will take effect before Monday's transaction.

Stocks added to the S&P 500 usually add value because the funds tracking the benchmark add it to their portfolio. For Coinbase, this is the latest move in months since Trump's election returned to the White House.

Coinbase, whose shares soared 31% on November 6 the day after the election, will adopt more crypto-friendly policies for the incoming administration to have been challenging and litigated four years after the challenging and litigation four years during Joe Biden’s tenure.

The company and CEO Brian Armstrong is a major financial supporter of the 2024 campaign, supporting the pro-Crypto candidate on and below the tickets. Coinbase is one of the largest corporate donors, providing more than $75 million to PACs called Fairshake and its affiliates. Armstrong personally contributed more than $1.3 million to the candidate portfolio.

While the beginning of Trump’s deadline is mostly beneficial to the cryptocurrency industry, legislation has so far stalled in building strategic bitcoin reserves by deregulating regulations and executing orders. This is partly due to concerns surrounding Trump’s personal efforts to profit from cryptocurrencies through meme coins and other family plans.

Coinbase has also been on the roller coaster, down 26% in February and 20% in March, with Trump’s tariff announcements spreading to the market and lifting investors out of risks. With Tuesday's rally, the stock is now growing about 2% over the year.

Since its publicly listed direct listing in 2021, Coinbase has become a larger part of the U.S. financial system, with Bitcoin’s value soaring, and large institutions have received regulatory approvals to create spot Bitcoin exchange funds.

Bitcoin soared last week, over $100,000 and hit a record price in January. Cryptocurrency exceeded $104,000 on Tuesday.

To join the S&P 500, a company must report profits in its latest quarter and earn cumulative profits in the last four quarters.

Coinbase reported last week that net income was $65.6 million, 24 cents a share, down from $1.18 billion or $4.40 a year ago, after considering the fair value of its cryptocurrency investment. Revenue rose 24% to $2.03 billion a year ago.

The company also announced last week that it plans to buy Dubai-based Deribit, a major crypto derivatives exchange priced at $2.9 billion. The deal is by far the largest in the cryptocurrency industry and will help collectively expand its footprint outside the United States

watch: Bitcoin surges over $100,000