Cryptocurrency Exchange Coinbase (Coin) has released its financial results for the first quarter of 2025.
The company's earnings per share (EPS) was $0.24, 88% below analysts' forecast of $1.98, but revenue was $2.034 billion, a 3% loss of forecast of $2.09 billion.
Nevertheless, the company made headlines today with a key strategic move. According to the Wall Street Journal, Coinbase has reached an agreement to acquire Dubai-based Crypto Derivatives Exchange Deribit for $2.9 billion. Delibit stands out as the world's largest platform for Bitcoin and ether options trading. We also offer futures and spot trading services.
Coinbase VP VP Greg Tusar told WSJ that the acquisition will make Coinbase “the most comprehensive player in derivatives.” The acquisition will be funded with $700 million in cash and 11 million shares.
Coinbase stocks rose nearly 7% today due to rising Bitcoin prices alongside the news. Stocks rose more than 45% from the bottom, as seen in mid-April. However, they still have lost more than 15% of their value since the beginning of the year.
*This is not investment advice.
