Coinbase Derivatives will provides round-the-clock futures contracts trading for retail and institutional investors.
One of the world’s largest cryptocurrency exchanges, Coinbase, announced on Thursday that it has agreed to acquire Dubai-based crypto derivatives exchange Deribit, for $2.9 billion, marking the largest deal in the crypto sector to date. Coinbase Expands Global Reach With Deribit The acquisition, announced on Thursday, involves a substantial financial commitment, with $700 million in cash and 11 million shares of Coinbase Class A common stock as part of the deal. The transaction is anticipated to close by the end of the year, a timeline that has already positively impacted Coinbase’s stock, with shares rising more than 5% toward the $206 mark following the announcement. Related Reading: Ethereum ‘Extremely Undervalued Against BTC’ – Supply Pressure May Delay Recovery Greg Tusar, Coinbase’s vice president of institutional product, emphasized the strategic importance of the deal, stating that it enhances Coinbase’s ability to compete with major players like Binance. While Coinbase dominates the US market for cryptocurrency trading, it has historically held a smaller share in the global arena, where a significant portion of trading activity occurs on Binance. Acquisition Highlights Deribit has established itself as a powerhouse in the crypto derivatives space, facilitating over $1 trillion in trading volume last year and boasting approximately $30 billion in current open interest on its platform. “We’re excited to join forces with Coinbase to power a new era in global crypto derivatives,” said Deribit CEO Luuk Strijers in a statement. He highlighted that this acquisition will not only accelerate the growth of both companies but also provide traders with enhanced opportunities across various trading products, including spot, futures, perpetuals, and options, all under the Coinbase brand. Tusar noted that Deribit’s consistent track record of generating positive adjusted EBITDA is a key factor in the acquisition, suggesting that the combined entity will likely see increased profitability. “One of the things we liked most about this deal is that it’s not just a game changer for our international expansion plans — it immediately diversifies our revenue and enhances profitability,” he told CNBC. Related Reading: Cardano Approaches Critical Resistance – Break Above Could Trigger Move To $0.80 This acquisition comes at a time when the cryptocurrency industry is benefiting from a supportive regulatory environment, with President Donald Trump’s administration taking a pro-crypto stance. This regulatory tailwind has fueled an increase in mergers and acquisitions within the sector. For instance, in March, US-based crypto exchange Kraken announced its acquisition of NinjaTrader for $1.5 billion, and last month Ripple Labs agreed to buy prime broker Hidden Road. Featured image from DALL-E, chart from TradingView.com
The crypto exchange cited a drop in crypto prices as a result of U.S. President Donald Trump’s tariff policy and macroeconomic uncertainty as the reason behind the weak quarter.
The acquisition makes Coinbase the largest crypto derivatives platform and a credible rival to Binance.
The U.S.-based crypto exchange missed analysts' expected earnings per share by a wide margin, according to its latest filing.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The deal includes $700 million in cash and 11 million shares of Coinbase Class A common stock.
Earlier today, Coinbase agreed to acquire crypto derivatives exchange Deribit in a record $2.9 billion deal.
The deal consists of $700 million in cash and 11 million shares of Coinbase Class A common stock, the crypto exchange giant confimed.
Barclays, JPMorgan, Compass Point and Oppenheimer all cut their first-quarter forecasts last month, citing weaker crypto trading.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Documents reveal that the SEC was asked by the NYAG's Office to file a brief in support of their argument that ETH is a security.
Top crypto exchanges Binance and Coinbase will temporarily pause Ethereum (ETH) deposits and withdrawals in preparation for the network’s upcoming pectra upgrade. Binance stated that ETH and tokens on Layer 2 networks like Arbitrum, Optimism, Base, Scroll, Worldcoin, and zkSync will be affected. The exchange pause starts at 09:45 (UTC). The exchange furthered that while […]
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The native token of the Ethereum-based Movement Network, MOVE, plunged to a historic low following Coinbase’s delisting amid the ongoing controversy tied to questionable market-making activities. The US crypto exchange announced on May 1 that it would suspend MOVE trading across its platforms by May 15, citing the token’s failure to meet its listing standards. […]
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Movement Labs cites 'ongoing events' as the reason for suspension.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Following Coinbase's announcement, MOVE's token price fell around 20% from $0.25 to $0.20 at publication time.
Bitcoin is trading above $95,000, moving closer to the psychologically significant $100,000 price level. This recovery follows several weeks of steady gains, although the asset remains approximately 12.6% below its all-time high recorded in January. Some analysts are now focusing on underlying trends across both spot and derivatives platforms to evaluate the sustainability of the current momentum. Recent data highlights notable movements of Bitcoin away from exchanges, particularly from Coinbase, a trend that typically signals a reduced available supply and potentially reduced selling pressure. In parallel, derivatives market activity has also picked up, suggesting an increase in leveraged positioning that could support ongoing upward momentum. The convergence of both accumulation signals and growing open interest has analysts watching closely for a continuation of the rally or a breakout attempt beyond recent highs. Related Reading: Is Bitcoin Demand Returning? Active Address Trend May Suggest So 8,000 Bitcoin Pulled From Coinbase Signals What? Amr Taha, a contributor on CryptoQuant’s QuickTake platform, recently observed that over 8,000 BTC—worth approximately $763 million—was withdrawn from Coinbase on two separate occasions within five days. This activity, visible on exchange netflow data, represents one of the largest Bitcoin outflow events recorded in recent weeks. Taha pointed out that the withdrawals occurred on April 24 and again on April 29, suggesting deliberate actions rather than random user activity. According to the analysis, large outflows from exchanges typically indicate that holders are transferring assets into cold wallets for long-term storage. This behavior often aligns with accumulation phases, as investors seek to remove their assets from trading platforms, thereby reducing immediate sell-side liquidity. Taha concluded, noting: Historically, significant Bitcoin outflows from exchanges — especially from major platforms like Coinbase — have often preceded strong bullish price movements. These outflows signal reduced immediate sell pressure and a tightening of available supply. Such dynamics have repeatedly aligned with periods of increased hedge fund activity, as institutional players reposition in anticipation of upside momentum. Binance Open Interest Climbs $2.2 Billion as Futures Activity Rebounds In a separate analysis, another CryptoQuant analyst, Burak Kesmeci, reported a surge in Binance’s Bitcoin Open Interest (OI) over the last 20 days. After declining from $11.9 billion in January to $7.5 billion in early April, a drop of nearly 37%, OI has since rebounded by 29.3%, reaching $9.7 billion. This increase in open interest corresponds with Bitcoin’s 23.7% price rise from $76,000 to over $94,000 during the same period. Rising open interest in derivatives markets typically indicates growing participation by leveraged traders and is often interpreted as a sign of increasing confidence or speculation. Related Reading: Bitcoin Supply in Profit Rises Above 85%— Is Euphoria Setting In? Kesmeci’s analysis suggests that the uptick in OI, when viewed alongside declining exchange reserves, may reinforce a bullish structure in the current market cycle. If momentum continues and funding conditions remain favorable, Bitcoin could push closer toward the $100K threshold in the short term. Featured image created with DALL-E, Chart from TradingView
New reports indicate that the Ethereum (ETH) CrossX indicator is flashing strong buy signals, suggesting a potential breakout toward $4,000. As the market transitions from selling to buying, on-chain data shows that institutional investors are heavily accumulating ETH tokens, indicating a shift in sentiment. Institutions Load Up On ETH As Buy Signal Flashes On-chain analytics platform, Lookonchain, has identified a notable increase in Ethereum accumulation, largely driven by institutional whales. Over the course of three hours, a wallet address reportedly associated with the trading firm Cumberland DRW withdrew a staggering 27,632 ETH, worth approximately $50.24 million. This transfer was made from major exchanges, including Coinbase, Copper and Binance. Related Reading: Ethereum Price Reaches Last H1 Support, Next Major Resistance Comes Into View The wallet’s activity involved multiple high-value transfers, such as a 7,600 ETH withdrawal worth $13.83 million from Coinbase, a 5,992 ETH withdrawal worth $10.92 million from Copper and Binance, and an additional 5,960 ETH transfer valued at $10.88 million from Copper. Notably, the receiving wallet, 0ex287AA111…, was consistently used across all transactions, suggesting coordinated accumulation rather than a typical trading activity. Historically, large-scale withdrawals from Ethereum exchanges have preceded price surges, as they significantly reduce sell-side liquidity and indicate a longer-term holding pattern by investors. Amid this growing institutional accumulation, the Ethereum CrossX Indicator, as noted by Ezy Bitcoin on X, has recently flashed a strong buy signal. This reinforces the notion that institutional interest is rising, signaling an increase in demand and potentially setting the stage for further upward price movement. Ethereum CrossX Indicator Suggests $4,000 Surge Ahead Shedding more light on Ezy Bitcoin’s report, the CrossX indicator, which officially triggered a buy signal for Ethereum, is signaling a potential surge above $4,000 for the altcoin’s price. The market expert highlights that this is the first signal seen in nearly six months and, historically, has often preceded significant price action and explosive moves. Related Reading: Ethereum Price Threatened With Sharp Drop To $1,400, Here’s Why The CrossX Indicator, a tool used to detect high-probability trend reversals based on volume, price action, and divergence patterns, has shown remarkable accuracy in past cycles. As seen in the analyst’s weekly chart, previous buy signals were followed by rallies that took ETH to new local highs. Now, with Ethereum’s price rebounding off recent lows and a fresh Bullish Divergence in place, the same rally pattern may be unfolding again. If history repeats, ETH could be gearing up for a run beyond $3,000, with the possibility of testing the $4,200 range by year’s end. According to CoinMarketCap’s data, Ethereum is currently trading at $1,803, reflecting a yearly decline of 43.10%. A potential rise to $4,200 would represent a staggering 132.95% increase, bringing Ethereum (ETH) closer to its present all-time high of over $4,800. Featured image from Adobe Stock, chart from Tradingview.com
The U.S. crypto exchange filed a brief in a longstanding privacy battle over records the tax agency sought on customers' crypto transactions.
Coinbase saw over $130 million in total onchain originations backed by around $227 million in collateral since launching its loan program.
Coinbase urged the Supreme Court to consider an IRS case that it says "sets a dangerous precedent" surrounding customers' personal data.
The move means that Base will now have a security council which will help approve certain network upgrades if needed.
Coinbase Asset Management is preparing to introduce the Coinbase Bitcoin Yield Fund (CBYF) on May 1. According to an April 28 statement, Coinbase described CBYF as a conservative investment strategy that seeks to generate annual net returns between 4% and 8% over a typical market cycle. The fund is designed to offer international institutional investors […]
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The Coinbase Bitcoin Yield Fund opens for business on May 1 and promises returns initially from basis trading, with lending and options strategies to be used in the future, according to launch partner Aspen Digital.
The partnership is another sign of stablecoin issuers jockeying for market share as regulation in the U.S. is advancing.
This new partnership comes after PayPal unveiled a 3.7% annual yield for individuals holding PYUSD in their PayPal or Venmo wallets starting in the summer of 2025.
Patient pools of capital are behind BTC's recent rally.
Bitcoin miner Riot Platforms has entered into a $100 million credit agreement with Coinbase, using its BTC holdings as collateral. According to the firm, the facility will be accessed through staged withdrawals over two months until the full $100 million is drawn. Riot confirmed that the capital will support expansion efforts and other corporate priorities. […]
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CEO Brian Armstrong previously said the exchange plans to hire 1,000 domestic employees in the first months of Trump's administration.