Coinbase—which went public in 2021—said that 24-7 trading would allow clients to properly "manage risk" by responding "to price movements and market events in real time, including weekends."
The exchange said it was working with clearing house Nodal Clear to bring users the service. "Extending futures trading to a 24/7 cycle is a fundamental evolution in market structure and one that requires robust risk management around the clock," the company's CEO and chairman Paul Cusenza said.
The new service comes one day after the exchange announced that it was buying Dubai-based options exchange Deribit for $2.9 billion. The San Francisco, California-based company said in a company blog post Thursday that the transaction was valued at $2.9 billion. The total price paid will consist of $700 million in cash and 11 million shares of Coinbase Class A common stock, the companies said.
"This strategic acquisition significantly advances Coinbase's derivatives business, establishing us as the premier global platform for crypto derivatives," the company said in a statement.
Coinbase stock (NASDAQ: COIN) was recently trading at nearly $204 per share after dropping a little over 1% over the past day. COIN has risen 14% over the past month amid an upturn in crypto markets, although that momentum halted Thursday after-hours following the release of first-quarter earnings, which fell short of expectations for revenue.
The firm struck an upbeat tone, however, because of the more crypto friendly environment under the Trump administration and promising stablecoin adoption on the platform.
Texas has officially opened its state-managed fund for Bitcoin, with Governor Greg Abbott signing Senate Bill 21 into law Friday, establishing the state's Strategic Bitcoin Reserve and joining two other states in the process.
The reserve enhances the state's financial resilience by serving as a "hedge against inflation and economic volatility," with its comptroller authorized to buy, sell, hold, or manage any investments in the reserve, its bill reads.
Governor Abbott's signature comes a month a...
Bitcoin regained a footing late Sunday to trade above $101,000, recovering from earlier weekend losses as investors responded to U.S. and Israeli airstrikes on Iranian nuclear sites.
The gains came alongside modest moves in gold and a muted reaction across oil and equity futures, signaling traders expect a contained conflict rather than a sustained geopolitical shock.
The U.S. operation, carried out in coordination with Israel, targeted Fordow, Natanz, and Isfahan using more than 125 aircraft a...
Crypto prices continued to crater Sunday morning, with Bitcoin dropping below $100,000 mark, Ethereum plunging 10% on the day, and assets like Solana, XRP, and Dogecoin falling to multi-month lows.
The downward shifts came after the United States entered the conflict between Israel and Iran, with President Donald Trump announcing late Saturday that U.S. forces bombed three Iranian nuclear facilities in an attack dubbed Operation Midnight Hammer.
The move threatens to further inflame tensions in...