Coinbase shares spike as crypto exchange set to join S&P 500, replacing Discover Financial

1. Coinbase will replace Discover in the S&P 500 index. 2. Shares jumped 8% in after-hours trading following the announcement. 3. Coinbase's market cap is now $53 billion, down from peak value. 4. The company reported a profit in its latest quarter to qualify. 5. Coinbase's revenue increased 24% year-over-year, despite a net income decline.