Coinbase, the largest American crypto exchange, has moved in a legally-compliant way over the years, introducing crypto services to both retail and institutional investors. Last month, Coinbase introduced XRP Futures. More recently, Coinbase made the news by becoming the first crypto firm in history to end up in the S&P 500 Index.
Coinbase: First Crypto Firm To Join Top-Tier Stock
The inclusion in the showpiece tech stock index has rocketed Coinbase’s (COIN) publicly traded stock shares by 24% in a day, which stands for the biggest uptick since Donald Trump’s victory day back in November, 2024.
However, the S&P 500 breakthrough could offer way more than a short-term pump, as S&P 500 inclusive firm shares usually rise in value because hedge funds will simply add the benchmark to their portfolios for tracking reasons, if not investing.
Sponsored
Amidst the rising publicity, Coinbase’s native Base Layer-2 chain is preparing the launch of four wrapped altcoin assets. These include Ripple (XRP), Dogecoin (DOGE), Cardano (ADA) & Litecoin (LTC), all of which will be available via dedicated Base Layer-1 smart contracts soon.
Coinbase Dishes Out Warning Of XRP Copycats
In their statement on May 13, 2025, Coinbase Assets acknowledged that “there could be fraudulent actors making false claims that cbADA, cbDOGE, cbDLTC & cbzXRP are available to trade”, referring to the rising amounts of scam & phishing attacks on the Base Layer-2 chain.
Last year, a research by Coin Telegraph concluded that 91% of memecoins on Base L2 had at least one trait of a security breach or a hazard to investors, while 16.9% of the projects were outright scams.
However, Base L2 has made waves with a series of animal-themed meme coins with strong community backing, including Brett (BRETT), Keyboard Cat (KEYCAT) & Dog In Me (DOGINME).
This time, Coinbase revealed the official addresses to the upcoming wrapped Ripple (XRP), Cardano (ADA) & Dogecoin (DOGE) to clear up doubt about the legitimacy of the tokens. Certainly, the early revelation of the smart contract addresses can prevent the multi-million losses to monthly hacks.
On The Flipside
- There’s no official launch date for the wrapped Ripple (XRP) or Cardano (ADA) assets on Base L2 yet.
Why This Matters
The early revelation of smart contract addresses prevents crypto traders from falling for bad actor tricks. Phishing scams preying on anticipation cause multi-million dollar fiscal damage every month.
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