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Coinbase CEO Brian Armstrong says his agency is exploring extra acquisition alternatives after buying crypto derivatives platform Deribit for $2.9 billion in Could.
“We’re acquisition alternatives; doesn’t imply we swing at each pitch,” Armstrong stated in a Could 14 interview with Bloomberg Tv. “We wish it to be the suitable alternative.”
Armstrong went on to say that Coinbase is especially interested by worldwide alternatives, “firms that suppose comparable,” and corporations that may speed up the alternate’s product growth and progress.
Coinbase Sitting On Wholesome Money Reserves
Armstrong additionally stated that Coinbase has a big stability sheet that may be put to make use of.
“A part of the advantage of being a public firm is, you could have a liquid forex to do this,” he stated.
That’s after the corporate revealed in its newest income report that its stability sheet strengthened, closing the primary quarter of 2025 with $9.9 billion in US greenback assets.
Coinbase’s acquisition of Deribit is without doubt one of the largest offers within the crypto business, and consisted of $700 million in money and 11 million shares of Coinbase inventory.
Coinbase Inventory Surges 28% In A Week Forward Of S&P 500 Inclusion
Coinbase inventory (COIN) has been on a tear within the final week. Google Finance knowledge reveals COIN trades at $264,41 as of 1:25 a.m. EST.
The corporate’s present share worth follows a 28% rally over the previous week after information broke that Coinbase could be the primary crypto agency to affix the S&P 500 index. COIN is anticipated to be added to the index on Could 19.
Congratulations @Brian_Armstrong on $COIN being added to the S&P 500 Index. A serious milestone for Coinbase and for Bitcoin.
— Michael Saylor (@saylor) Could 12, 2025
COIN’s inclusion within the S&P 500 is anticipated to extend demand for the inventory as a result of index funds and exchange-traded funds (ETFs) that observe the S&P 500 should purchase COIN shares to reflect the index.
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