Coinbase's stock surged by 9% following its recent inclusion in the S&P 500, trading at $266.32. Although the company faced a significant data breach that resulted in stolen customer data and launched regulatory scrutiny by the SEC, analysts at Benchmark Equity Research raised their price target for Coinbase to $301, a 19% increase from the previous estimate. This price elevation is attributed to anticipated investment inflows from funds tracking the S&P 500 index, as they will need to buy COIN shares to align with the index. The momentum also follows Coinbase's strategic acquisition of the Deribit crypto exchange, aimed at enhancing its global reach and product offerings. Despite these positive developments, concerns over the cyber breach and ongoing regulatory investigations linger, prompting Coinbase's CEO to emphasize a strict stance against the ransom demands made by cybercriminals.

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