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CEO of Coinbase, Brian Armstrong, said that his company explores more acquisition opportunities after acquiring the cryptographic derivative platform for $ 2.9 billion in May.
“We are considering acquisition possibilities; does not mean that we are swinging with each argument, “said Armstrong said In an interview on May 14 with Bloomberg Television. “We want it to be the right opportunity.”
Armstrong continued by saying that Coinbase is particularly interested in international opportunities, “companies that think similar” and companies that can accelerate the development and growth of exchange products.
Coinbase sitting on healthy cash reserves
Armstrong also said that Jamming Has a great assessment that can be used.
“Part of the advantage of being a public business is that you have a liquid currency to do so,” he said.
It is after the company revealed In its latest income report that its assessment has strengthened, closing the first quarter of 2025 with $ 9.9 billion in US dollars.
The acquisition of Deribit Coinbase is one of the largest offers in the cryptography industry and included 700 million dollars in cash and 11 million Coinbase shares.
Coinbase shares increase by 28% in one week before the inclusion of the S&P 500
Coinbase Stock (corner) was in tears last week. Google Finance The data show that the coins at $ 264,41 at 1 h 25 hne.
The current course of current action follows 28% rally During last week, after News announced that Coinbase is the first Crypto company to join the S&P 500 index. The room should be added to the index on May 19.
Congratulations @Brian_armstrong on $ Part be added to the S&P 500 index. An important step for Coinbase and for Bitcoin.
– Michael Saylor (@saylor) May 12, 2025
Coin inclusion in the S&P 500 should increase the demand for the stock because the index funds and negotiated funds on the stock market (ETF) which follow the S&P 500 must buy parts to reflect the index.
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