Coinbase 24-7 Bitcoin, Ethereum Futures Trading Goes Live
Coinbase launched 24/7 Bitcoin and Ethereum futures trading for U.S. traders, allowing round-the-clock trading with leverage. This service was introduced in response to high demand from crypto traders. The ability to trade continuously enables clients to manage risk and react to market changes in real time. Coinbase partnered with Nodal Clear for this service, emphasizing the need for robust risk management. The announcement followed Coinbase's acquisition of Dubai-based options exchange Deribit for $2.9 billion, which includes $700 million in cash and 11 million shares of Coinbase stock. This acquisition aims to enhance Coinbase's derivatives business. Coinbase's stock is trading around $204 per share, reflecting a 14% increase over the past month despite a recent earnings report that fell short of revenue expectations. The company has a valuation exceeding $50 billion.
