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’s price remains on track to hit half a million dollars before Donald Trump's current term ends after government entities increased their indirect exposure to Bitcoin in the first quarter, according to Geoff Kendrick, global head of digital assets research at Standard Chartered,
Whether it was South Korea’s National Pension Service, the Swiss National Bank, or U.S. state retirement funds, government entities’ recent holdings of Strategy—which owns around 576,000 Bitcoin—“was very encoura...
The native token of DeFi lending protocol Aave has surged by double-digit gains on the day, rallying alongside a key procedural vote in Congress on the long-anticipated GENIUS Act.
If enacted, the bill would provide long-awaited regulatory clarity for stablecoins—a sector in which Aave is deeply embedded.
Specifically, the act would allow banks and other companies to issue their own stablecoins provided they meet certain requirements, adding to further speculation it could bring about wider inst...
JP Morgan boss Jamie Dimon said on Monday that his bank will allow its customers to buy Bitcoin—the latest sign of the bank's increased openness to the asset, despite Dimon's years of criticizing the largest crypto by market value and digital assets more widely.
In remarks during the investment bank's investor day, Dimon said that JP Morgan clients would soon be able to buy BTC, although the bank wouldn't custody it.
"We are going to allow you to buy it," Dimon said at the bank's annual invest...