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.
Old-school cryptocurrencies are surging in the wake of XRP setting a new all-time high, after a painstaking seven-year wait. One expert believes it is an early sign of an altcoin season following Bitcoin’s all-time high on Monday, adding that newer altcoins could be next to pump.
Major retro altcoins Ethereum Classic, Litecoin, and Bitcoin Cash have all seen notable gains, with other altcoin such as Uniswap, Dogecoin, and Hedera also jumping in value.
“We're seeing early signals of an 'altcoin...
For the first time ever, the total value of all cryptocurrencies surpassed $4 trillion Friday before pulling back slightly, with Bitcoin (BTC) and Ethereum (ETH) accounting for over 70% of total market value, driven by surging investor demand and a string of regulatory victories in the U.S.
Bitcoin rose 1.4% in 24 hours to top $120,336, while Ethereum surged 6.4% to $3,647, per CoinGecko data, with BTC’s market cap climbing to $2.395 trillion and ETH’s at $440.4 billion. Both assets have since r...
Bitcoin has reclaimed the $120,000 mark following a brief pullback earlier this week as renewed institutional flows continued to be buoyed by clearer U.S. crypto policy.
Its return comes after profit-taking briefly capped the alpha asset's momentum, stalling a seven-day rally that had pushed it to new highs.
Last week’s rally found a local bottom near $114,000, QCP Capital said in its Wednesday Asia Colour note, adding that Bitcoin has since hovered in a tight range as traders assess whether th...