Coinbase Acquires Deribit for $2.9 Billion in Historic Crypto Deal

Published 1 hours agoCOIN

Coinbase Acquires Deribit for $2.9 Billion in Historic Crypto Deal

Coinbase has struck a landmark deal to acquire Dubai-based Deribit for a staggering $2.9 billion, making it the largest acquisition in the cryptocurrency sector so far. According to Reuters, the transaction includes $700 million in cash, complemented by 11 million shares of Coinbase Class A common stock.

This strategic expansion allows Coinbase to access the lucrative crypto derivatives market. With Deribit recognized as the largest crypto derivatives exchange, processing over $1 trillion in trading volume last year, this move will enable Coinbase to offer traders a broader range of spot, futures, and options trading. The acquisition also aligns with the supportive regulatory environment under U.S. President Donald Trump, who is keen on positioning the U.S. as a leading crypto hub.

Following the announcement, Coinbase's shares saw an uptick, rising nearly 5% in pre-market trading, as noted by the Financial Times. The completion of the deal is subject to regulatory approval, with expectations set for it to close by the year's end. This acquisition underscores Coinbase's ambition to strengthen its foothold in the global cryptocurrency landscape.

Share this article

Twitter Facebook LinkedIn

Recent Articles

Shopify's Stock Dips Amidst Mixed Financial Outlook

Shopify's Stock Dips Amidst Mixed Financial Outlook

4 minutes agoSHOP

Shopify's stock is under pressure in premarket trading, dropping over 6%, as the company issued its latest financial forecasts. This movement comes as Shopify projects its second-quarter revenue to grow in the mid-20% range, slightly exceeding the analysts' average expectation of 22.4%, according to Reuters. However, it's not all positive news. Shopify's projection for gross profit growth is set to rise at a high-teen percentage rate, falling short of analysts' expectations of a 20.2% increase. These mixed signals have contributed to volatility in the company's stock performance, which currently sits at $91.29 per share, showing a decrease of $3.96 from its previous close. The intraday performance has witnessed a high of $99.24 and a low of $84.9, with a significant trading volume of 19,518,304 shares. Shopify's strategic outlook remains focused on solidifying its revenue streams while managing profit margins within a competitive market. The latest trading figures underscore the market's cautious response to the company's financial guidance, emphasizing the balance Shopify seeks to maintain between growth expectations and profitability targets.

Insmed Sees Growth in ARIKAYCE Sales and Advances Brensocatib Development

Insmed Sees Growth in ARIKAYCE Sales and Advances Brensocatib Development

19 minutes agoINSM

Insmed Incorporated has reported significant growth in its financial performance, particularly in the global net product sales of ARIKAYCE. In 2024, sales reached approximately $363.7 million, a notable 19% increase from the previous year. The company anticipates this growth trend to continue, projecting global ARIKAYCE revenues to range between $405 million and $425 million in 2025, according to stocktitan.net. Alongside financial gains, Insmed is making strides in drug development. The FDA has accepted the New Drug Application for brensocatib, designed for patients with bronchiectasis, and has granted it priority review with an expected action date of August 12, 2025. Reuters reported that, subject to approval, Insmed plans to launch brensocatib in the U.S. by mid-2025, with releases in Europe and Japan set for the first half of 2026. Insmed's strategic focus includes hefty investment into product commercialization and widening its global reach. As of the end of 2024, the company held cash and securities amounting to $1.4 billion. This solid financial footing supports their ongoing plans for the U.S. launch of brensocatib and further development of clinical trial programs in 2025 as noted on Nasdaq.com. These efforts highlight Insmed's commitment to both product expansion and financial growth.

Zevia Reports Strong Margin Gains Amid Mixed Annual Sales Performance

Zevia Reports Strong Margin Gains Amid Mixed Annual Sales Performance

34 minutes agoZVIA

Zevia PBC (NYSE: ZVIA) recently unveiled its financial performance for the fourth quarter and full year of 2024. The company posted fourth-quarter net sales of $39.5 million, a 4.4% uptick from the previous year, while achieving a gross profit margin of 49.2%, reflecting an 8.5 percentage point year-over-year improvement. Net loss for the quarter improved to $6.8 million, down by $2.4 million from Q4 2023, and the adjusted EBITDA loss narrowed by $3.0 million to $3.9 million. Additionally, loss per share decreased by $0.05 to $0.09 compared to the prior year period. However, Zevia's full-year results painted a more varied picture, as net sales dropped by $11.4 million to total $155.0 million for 2024. On the brighter side, the company saw its gross profit margin rise by 1.5 percentage points, and the net loss narrowed to $23.8 million — an improvement of $4.5 million compared to the previous year. Adjusted EBITDA loss also showed progress, reducing to $15.2 million, a $3.8 million enhancement year-over-year, and the loss per share decreased by $0.07 to $0.34. Strategically, Zevia is expanding its distribution significantly, now operating in over 4,300 Walmart locations, up from only 800 previously, according to Reuters. The company has also implemented a Productivity Initiative aimed at yielding $15 million in annual cost savings, with plans to funnel much of these savings into growth opportunities. These steps underscore Zevia's initiative to boost profitability while expanding its market reach.

Ligand Pharmaceuticals Projects Robust Royalty Revenue Growth by 2029

Ligand Pharmaceuticals Projects Robust Royalty Revenue Growth by 2029

49 minutes agoLGND

Ligand Pharmaceuticals has shared an ambitious financial outlook, revealing plans for a compound annual growth rate of at least 22% in royalty revenues through 2029. The company aims to achieve approximately $285 million in royalty receipts by that year, according to Nasdaq.com. This projection is part of a broader strategy that includes leveraging its research and development investments and technology platforms such as Captisol® and NITRICIL™. In its 2025 financial guidance, Ligand expects total revenues to range between $180 million and $200 million, with royalty revenues contributing $135 million to $140 million. The company is also forecasting $35 million to $40 million in Captisol sales and $10 million to $20 million in contract revenue. For adjusted earnings per share, Ligand has set a target of $6.00 to $6.25. Nasdaq.com notes that key commercial programs like Filspari and Veklury are among those projected to drive this growth. Recent strategic initiatives include significant investments totaling $192 million in the past two years across eight ventures, alongside evaluating over $1 billion in potential opportunities. Ligand Pharmaceuticals is focused on expanding its royalty portfolio and exploiting its technological platforms to secure substantial revenue growth in the coming years. By capitalizing on existing and emerging collaborations, the company aims to enhance its market position significantly.