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.
Bitcoin treasury KindlyMD has added $679 million in BTC to its holdings, the company said Tuesday—though the firm's stock has taken a plunge following the announcement.
The Nasdaq-listed company said that it had bought 5,743.91 BTC via its wholly owned subsidiary, Nakamoto Holdings, Inc, for an average price of about $118,205 per coin.
Bitcoin was recently trading for $113,200, down 2.4% over a 24-hour period and by more than 5% over the past week after hitting a new all-time high mark above $12...
South Korean financial authorities have temporarily suspended new crypto lending services in a direct response to a major liquidation event at a local exchange.
This move highlights growing global concerns over excessive leverage in the digital asset market.
The decision by the country’s Financial Services Commission (FSC) follows a recent incident at Bithumb, where regulators noted that more than 27,000 customers tapped lending services in June.
As market prices swung against them, a full 13% o...
Outflows from U.S. ETFs tracking Ethereum's spot price hit $197 million on Monday—the second-highest figure ever for daily withdrawals.
The sell-offs come as the queue for unstaking ETH also surged to new records, with $3.9 billion worth of withdrawals now pending.
BRN Head of Research Timothy Misir warned both factors are "pressuring near-term sentiment."
In a note to investors, he argued $4,400 is now a crucial support level for the world's second-largest cryptocurrency. At the time of writing...