May 13, 12:12 PM

Coinbase Joins S&P 500; Bitcoin Near $103K; David Bailey Merger; MicroStrategy $1.34B BTC Buy; US-China Tariff Suspension

Bitcoin (BTC) and other major cryptocurrencies showed steady performance in mid-May 2025, with BTC trading around $102,000 to $104,000 and Ethereum (ETH) fluctuating between $2,400 and $2,500. Ethereum experienced a notable 40% increase over five days. Coinbase (COIN) made headlines by becoming the first cryptocurrency stock to be added to the S&P 500 index, resulting in an 8-9% jump in its stock price. The crypto market also saw significant corporate developments: David Bailey, CEO of BTC Magazine, announced a merger with Kindly MD to form a public company focused on Bitcoin treasury management. Additionally, Eric Trump is set to lead a new Bitcoin acquisition company called American Bitcoin, which plans to go public. MicroStrategy made a substantial purchase of $1.34 billion in Bitcoin last week. On the geopolitical front, the US and China issued a positive joint statement agreeing to maintain 10% tariffs while suspending some other tariffs for an initial 90-day period. Other market news included the launch of PumpFun's new creator revenue-sharing model and ongoing discussions between BlackRock and the SEC regarding future regulatory frameworks.