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Coinbase Seeks More Acquisitions, Armed With $9.9B War Chest
By: cryptosheadlines|2025/05/16 06:45:05
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Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Join Our Telegram channel to stay up to date on breaking news coverageCoinbase CEO Brian Armstrong says his firm is exploring more acquisition opportunities after acquiring crypto derivatives platform Deribit for $2.9 billion in May.“We are looking at acquisition opportunities; doesn’t mean we swing at every pitch,” Armstrong said in a May 14 interview with Bloomberg Television. “We want it to be the right opportunity.”Armstrong went on to say that Coinbase is particularly interested in international opportunities, “companies that think similar,” and companies that can accelerate the exchange’s product development and growth. Coinbase Sitting On Healthy Cash Reserves Armstrong also said that Coinbase has a large balance sheet that can be put to use. “Part of the benefit of being a public company is, you have a liquid currency to do that,” he said.That’s after the company revealed in its latest revenue report that its balance sheet strengthened, closing the first quarter of 2025 with $9.9 billion in US dollar resources.Coinbase’s acquisition of Deribit is one of the biggest deals in the crypto industry, and consisted of $700 million in cash and 11 million shares of Coinbase stock.Coinbase Stock Surges 28% In A Week Ahead Of S&P 500 InclusionCoinbase stock (COIN) has been on a tear in the last week. Google Finance data shows COIN trades at $264,41 as of 1:25 a.m. EST. The company’s current share price follows a 28% rally over the past week after news broke that Coinbase would be the first crypto firm to join the S&P 500 index. COIN is expected to be added to the index on May 19.Congratulations @Brian_Armstrong on $COIN being added to the S&P 500 Index. A major milestone for Coinbase and for Bitcoin.— Michael Saylor (@saylor) May 12, 2025COIN’s inclusion in the S&P 500 is expected to increase demand for the stock because index funds and exchange-traded funds (ETFs) that track the S&P 500 must buy COIN shares to mirror the index.Related Articles:Best Wallet – Diversify Your Crypto Portfolio Easy to Use, Feature-Driven Crypto WalletGet Early Access to Upcoming Token ICOsMulti-Chain, Multi-Wallet, Non-CustodialNow On App Store, Google PlayStake To Earn Native Token $BEST250,000+ Monthly Active Users Join Our Telegram channel to stay up to date on breaking news coverageSource link
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