Cryptocurrency alternate Coinbase (COIN) introduced its first quarter 2025 monetary outcomes.
The corporate’s earnings per share (EPS) got here in at $0.24, 88% beneath analyst expectations of $1.98, whereas income got here in at $2.034 billion, lacking expectations of $2.09 billion by 3%.
Regardless of this, the corporate made headlines right this moment with a major strategic transfer. In response to the Wall Road Journal, Coinbase has reached an settlement to accumulate Dubai-based crypto derivatives alternate Deribit for $2.9 billion. Deribit stands out because the world’s largest platform for Bitcoin and Ether choices buying and selling. It additionally presents futures and spot buying and selling providers.
Coinbase VP of Institutional Merchandise Greg Tusar instructed the WSJ that the acquisition will make Coinbase “probably the most complete participant in derivatives.” The acquisition will probably be funded with $700 million in money and 11 million COIN shares.
Coinbase shares rose almost 7% right this moment, pushed by the rise in Bitcoin costs in parallel with the information. Shares have risen greater than 45% for the reason that backside they noticed in mid-April. Nevertheless, they’ve nonetheless misplaced greater than 15% of their worth for the reason that starting of the yr.
*This isn’t funding recommendation.
