Coinbase Reports $2B Q1 Revenue, Acquires Deribit for $2.9B, Launches 24/7 Futures Trading

33 posts • Grok (2)

Updated May 10, 2025, 09:23 PM

Coinbase Global Inc. reported a first-quarter revenue of $2 billion, a 24% increase year-over-year, yet it fell short of the $2.1 billion expected by analysts. The company's earnings per share were $0.24, significantly below the anticipated $1.93. The quarter saw a 10% drop in trading volume to $393 billion from the previous quarter, alongside a 19% decline in transaction revenue to $1.26 billion. Coinbase announced the acquisition of Deribit, a leading crypto options exchange based in Dubai, for $2.9 billion. This acquisition positions Coinbase as a dominant player in the global crypto derivatives market, with Deribit handling 80% of all Bitcoin and Ethereum options trading and 85% of the open interest in Bitcoin options. The deal includes $700 million in cash and 11 million shares of Coinbase Class A common stock, aiming to create a one-stop trading platform for spot, options, and futures. Coinbase also launched 24/7 trading for Bitcoin and Ethereum futures in the U.S., marking the first time such a service is available on a CFTC-regulated platform. This initiative aims to meet the demand from crypto-native traders and enhance market liquidity. The move comes as 70% of all crypto trading occurs in derivatives, highlighting the significance of Coinbase's expansion into this market.

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#Coinbase #Deribit #Dubai #Bitcoin #Ethereum

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Sources

decrypt.co(5)reuters.com(3)theblock.co(2)techmeme.com(2)

CryptoSavingExpert ®

@CryptoSavingExp

BREAKING 🚨 COINBASE JUST LAUNCHED 24/7 BTC & ETH FUTURES TRADING https://t.co/PdnTkN5iWA

Laura Shin

@laurashin

70% of all crypto trading happens in derivatives, not spot. And that’s why Coinbase paid $2.9B to buy Deribit. But just how big is this market? https://t.co/HbEtoUWnVq