In This Article:
As bitcoin (BTC-USD) jumps above $101,000 on Thursday, cryptocurrency exchange Coinbase (COIN) announced that it will acquire trading platform Deribit in a deal valued at $2.9 billion.
Yahoo Finance crypto reporter David Hollerith discusses the news.
Coinbase is set to report first quarter earnings results after Thursday's closing bell.
To watch more expert insights and analysis on the latest market action, check out more Market Domination here.
We have to pinpoint another, uh, and highlight another asset today, and that's Bitcoin. The price is soaring above 100,000 today as tariff trade optimism has sparked a rally in crypto, including Coinbase shares, by the way. Uh, they're also getting a boost, and this coming after the company announced it had reached an agreement to acquire crypto options platform Deribit. Yahoo Finances' David Holler joins us now with more. We talked about earlier, Dave. It's good to see you, by the way. We talked earlier about, um, the sort of risk-on that was happening with everything today. Um, and I guess crypto was not excluded.
Yeah, I mean, I, I think it's uniquely resilient to the market so far this year, and, uh, Coinbase's, uh, situation in particular is fairly unique in that they have this big acquisition, uh, you know, probably, um, to date in the crypto in crypto sector, one of the biggest. So, there's that going on. And then, I think that there's just this huge, uh, tailwind effect of all the regulatory barriers that are coming down. Even yesterday, we had the OCC, which is a bank regulator, um, lifting a giving guidance to banks. So, crypto is kind of seeing this major tailwind amidst the tariff turmoil. And it's not super clear either how their how crypto would be affected by tariffs either, so.
Yeah, that is a very good point. And we're waiting for Coinbase numbers after the bell as well, we should mention that as we talk about the deal.
