The deal will be closed with $700 million in cash and 11 million in shares of Coinbase Class A common stock.
The acquisition is subject to regulatory approval and is expected to close by the end of this year.
Coinbase Global, Inc. (NASDAQ: COIN), a veteran cryptocurrency exchange based in the United States, announced that it has agreed to acquire Deribit, a top-tier derivatives exchange. According to the announcement, Coinbase is acquiring Deribit for $2.9 billion, which will include $700 million in cash and 11 million in shares.
Meanwhile, Coinbase announced that the deal is subject to regulatory approval and other customary closing conditions. As a result, Coinbase expects the deal to be closed by the end of this year.
“As the leading crypto options platform, we’ve built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand. Together with Coinbase, we’re set to shape the future of the global crypto derivatives market,” Luuk Strijers, CEO at Deribit, noted.
Coinbase Forges a Brighter Future for the Crypto Industry
Once finalized, Coinbase will become a major player in crypto derivatives in regards to open interest (OI) and options volume. Furthermore, Deribit currently has more than $30 billion in OI and recorded over $1 trillion in trading volume in 2024.
With Coinbase available in more than 100 jurisdictions globally, more crypto traders can now seamlessly access the derivatives market in a regulated manner. Most importantly, more institutional investors from around the world can access the Bitcoin and altcoins OI market through their respective Coinbase accounts.
Consequently, Coinbase will significantly diversify its revenue streams amid heightened competition from other crypto exchanges including Binance and Bybit. Following the announcement, Coinbase shares COIN surged 6 percent on the day to trade about $208 on Thursday, May 8 during the mid North American trading session.
Winning over young voters with crypto-friendly policies has become a proven political strategy, and Donald Trump’s successful playbook has not gone unnoticed. As South Korea gears up for a crucial presidential election, the ruling People Power Party (PPP) is taking a page from Trump’s book, positioning itself as the champion of digital innovation.
Let’s dive into the evolving landscape.
South Korea’s Presidential Election: The Battle Lines
South Korea, a major Asian economic hub, is preparing for a high-stakes presidential election. The contest is primarily between the ruling People Power Party (PPP) and the opposition Democratic Party (DP).
According to recent polls, the Democratic Party currently leads with 47% support, while the PPP trails at 35%. In a bid to close the gap, the PPP is banking heavily on crypto reforms to win back disenchanted voters.
PPP’s Bold Crypto Agenda: Major Promises for 2025
At the heart of the PPP’s campaign is a direct appeal to the country’s growing crypto community. The party has promised to abolish the controversial law that requires crypto exchanges to form exclusive partnerships with local banks—a regulation that has stifled competition and forced many smaller exchanges to shut down or limit their services.
But the promises don’t stop there. The PPP’s 2025 agenda outlines several major crypto initiatives, including:
Launching corporate crypto trading platforms before the end of 2024.
Establishing a Virtual Asset Special Committee to oversee sector development.
Creating a stablecoin regulatory framework aligned with global standards.
Clarifying crypto tax regulations to foster greater transparency.
By aggressively targeting regulatory barriers, the PPP aims to position South Korea as a global leader in digital assets.
Where the Democratic Party Stands
While the Democratic Party hasn’t made sweeping crypto promises, it maintains a generally pro-crypto stance. Some leaders have floated the idea of establishing a national Bitcoin reserve, and the party has signaled its intention to reform South Korea’s existing crypto regulations.
However, their messaging is notably less aggressive compared to the PPP’s bold reform proposals.
Why Crypto Matters: The Battle for Young Voters
Both major parties recognize the political power of younger voters, many of whom see cryptocurrencies as symbols of financial freedom and technological innovation. By embracing crypto narratives, South Korea’s political forces hope to win over a generation that could ultimately decide the fate of the 2025 election.
The post People Power Party Bets Big on Crypto to Win South Korean Election appeared first on Coinpedia Fintech News
Winning over young voters with crypto-friendly policies has become a proven political strategy, and Donald Trump’s successful playbook has not gone unnoticed. As South Korea gears up for a crucial presidential election, the ruling People Power Party (PPP) is taking a page from Trump’s book, positioning itself as the champion of digital innovation. Let’s dive …
The Trump International Hotel and Tower in Dubai will accept Bitcoin and other unspecified cryptoassets for real estate purchases. The project won’t be completed for five years, so details are somewhat sparse.
Although the Tower will include a hotel and clubhouse for tourists and temporary guests, crypto payments are only available for condo acquisitions. Permanent occupancy units will sell for between $1 million and $20 million each.
Trump’s Dubai Project Mixes Crypto and Real Estate
According to a report from The National, Eric Trump is apparently his family’s main representative in this plan. The Trump Organization is building the Trump International Hotel and Tower in Dubai, and Eric is its executive vice president.
He gave several comments describing the plan to accept crypto payments:
“[The Tower] is going to be the first truly large-scale project that accepts Bitcoin, that accepts cryptocurrency to purchase units, and that’s really exciting for me, because I love that world and I am deeply invested in that world. I believe in cryptocurrency. When I can see two worlds that I truly love come together, it’s very exciting,” Eric Trump claimed.
Trump name-dropped Bitcoin as an asset that enables these purchases, but he didn’t describe any other specific tokens. To be clear, the Tower will contain both a hotel and condominiums for permanent occupancy; only the latter can pay with crypto.
The Trump family is partnering with Dar Global, a London-listed company, to launch this $1 billion Dubai development project. Its two penthouses will have a $20 million asking price, while other condos will go for between $1 and $1.2 million.
If everything goes according to plan, the Tower will open its doors in five years.
A new address is arriving soon: Trump International Hotel & Tower Dubai.
Since construction is still in its early stages, details about the project are relatively sparse, but it enjoys several solid fundamentals. Its success could be a valuable proof of concept for real estate developments worldwide.
Since US President Donald Trump assumed office, the Securities and Exchange Commission (SEC) has dropped, settled, or paused lawsuits against prominent crypto entities left and right. In stark contrast to the previous administration’s leadership under Chair Gary Gensler, the SEC seems to be parting from its previous crackdown on digital assets.
In an interview with BeInCrypto, Nick Puckrin, Founder of The Coin Bureau, and Hank Huang, Chief Executive Officer at Kronos Research, highlighted the substantial election influence the crypto industry had over Trump’s candidacy as a contributing factor to the SEC’s looser stance on crypto.
The SEC’s Approach Under Trump
The SEC has experienced a clear shift in its approach to crypto lawsuits under Trump’s presidency. Its move away from the aggressive enforcement tactics of its previous leadership has largely characterized this shift.
“When President Donald Trump won the US election, the crypto industry rejoiced. Finally, the ‘regulation by enforcement’ era, which the SEC under the leadership of Gary Gensler was so famous for, was about to come to an end. And the new administration didn’t disappoint. Within just a couple of weeks of Trump’s inauguration, the revamped SEC started dropping lawsuits against crypto firms left, right and center,” Puckrin said.
Two weeks ago, the SEC officially dropped its appeal and XRP lawsuit against Ripple Labs, ending a five-year legal battle. The Commission had originally accused Ripple of conducting an unregistered securities offering worth $1.3 billion through XRP sales.
“After more than four years in limbo, the SEC has officially decided that XRP is not a security (though what it is instead remains to be seen). This case has been weighing heavily on XRP – the fourth largest cryptocurrency with a market cap of roughly $130 billion– so its resolution is a major win,” Puckrin added.
The wider crypto community celebrated the outcome, with many arguing that it will set a precedent for how digital assets are classified in the US. This prediction is warranted, given that the SEC has been on a lawsuit-dropping spree.
The SEC has also dropped several ongoing investigations against OpenSea, Robinhood, Uniswap Labs, Kraken, and Gemini. It has also asked a federal court to issue a 60-day pause over its litigation against Binance. Meanwhile, the Commission settled its investigation into ConsenSys over its Ethereum software products.
These lawsuits surfaced in parallel to a series of crypto-friendly measures meant to foster greater innovation and curb potential regulatory suffocation that had existed during the Biden era.
Will New Leadership Define Clear Crypto Regulations?
A day after Trump assumed office, SEC Acting Chairman Mark Uyeda announced the creation of a dedicated crypto task force led by Commissioner Hester Peirce. The task force was reportedly designed to resolve long-standing ambiguities in the regulatory treatment of digital assets.
In all SEC crypto lawsuits, Commissioner Uyeda has implemented a strategy prioritizing industry engagement to develop regulatory frameworks that balance innovation and investor protection.
Meanwhile, Trump strategically nominated Paul Atkins, a crypto-curious, regulation-light candidate, to replace Gensler as head of the SEC. Just this week, the Senate Banking Committee voted to advance Atkins’ nomination to the full Senate.
Now, only a stone’s throw away from becoming SEC Chair, Atkins is expected to loosen regulatory oversight on crypto.
“With the establishment of a new Task Force and key appointees like Paul Atkins fostering innovation, Trump’s strategic move to create a Bitcoin reserve within the government further underscores his commitment to supporting the industry. The future of crypto regulations will be focused on less oversight and the beginning of a delicate but promising thaw in the regulatory landscape,” Huang added.
Though some say Trump’s handling of crypto affairs has resulted in a never-before-seen triumph, others are weary that his increasing involvement in the industry has turned out to be a recipe for disaster.
The Impact of Crypto Donations on Regulations
Several industry leaders went to great lengths to ensure that Trump became America’s 47th president. Millions of dollars in donations from crypto firms throughout Trump’s campaign illustrated these efforts.
According to a Public Citizen report, over $119 million from crypto corporations went into influencing the 2024 federal elections, largely through Fairshake, a non-partisan super PAC backing pro-crypto candidates and opposing skeptics.
Crypto corporations donated over $119 million to the 2024 federal elections. Source: Public Citizen
Coinbase and Ripple, among others who stand to profit, directly provided over half of Fairshake’s funding. The remaining funds mostly came from billionaire crypto executives and venture capitalists. Notable contributions included $44 million from the founders of Andreessen Horowitz, $5 million from the Winklevoss twins, and $1 million from Coinbase CEO Brian Armstrong.
So far, big crypto’s spending strategy is paying off with a more favorable environment.
Without a clear framework to guide the crypto industry following these dropped lawsuits, this lax approach risks being short-lived. Ultimately, this could tarnish long-term crypto adoption.
“Somehow, all these victories feel somewhat hollow after the reputation of the crypto industry has been tarnished by the billions of dollars in combined losses from meme coin scams. Meanwhile, Hayden Davis, the mastermind behind LIBRA, continues to launch fraudulent meme tokens, despite being on the Interpol wanted list,” he said.
A 2024 report by Web3 intelligence platform Merkle Science revealed that meme coin rug pulls cost investors over $500 million. The February LIBRA incident showed how this trend was carried over to 2025. Nansen data revealed that 86% of investors lost $251 million, while insiders pocketed $180 million in profits.
Though crypto scammers may be charged with related crimes like wire fraud or money laundering, rug pulling is legal. Better said, it’s unaccounted for. No regulation holds crypto insiders responsible for meme coin scams.
“As crypto becomes an ever more mainstream asset class, consumers need to be protected against those who choose to use it for nefarious purposes. One way to do this is through education, and that’s our job as an industry. But deterring scams and extractive behavior is the job of the regulators. And it’s time they stepped up to the task,” Puckrin told BeInCrypto.
If the SEC doesn’t take advantage of this opportunity to curb the consequences that meme coin scams can produce, it will result in an enormous setback for the industry.
Comprehensive Regulation Beyond Dropped Lawsuits
Puckrin illustrated the need for heightened regulatory clarity in crypto by drawing attention to the way the SEC penalizes insider trading in the context of traditional investing.
“In traditional investing, insider trading is a serious crime. In the US, it’s punishable by fines of up to $5 million for individuals and prison sentences up to 20 years. Similarly, federal penalties for engaging with illegal gambling activities include up to five years in prison. Perpetrators of memecoin scams must be punished with the same level of severity, because the result is the same: manipulating markets and cheating unsuspecting investors out of their savings,” he said.
Puckrin clarified, however, that the issue isn’t solely about penalizing fraudsters. Just as the SEC’s past overregulation hindered the industry, the current lack of meme coin rules creates an environment where new scams and exploitative schemes can easily flourish.
“Yes, the removal of lawsuits is great news for blockchain innovation, but something needs to replace it. Indeed, serious cryptocurrency firms have never advocated for an unregulated Wild West. What they want is clarity and rules that are fit for the nascent blockchain industry – not just a copy-and-paste of existing financial regulations that simply don’t work for crypto,” he said.
Although the Trump administration has only been in place for four months, the clock is ticking, and meaningful change takes time.
Unanswered Questions Loom
Puckrin expressed concern over the current administration’s prioritization of lawsuit dismissals instead of working faster to implement transcendental crypto regulation.
“My concern is that regulators will keep kicking the can down the road with crypto regulation, having gained the approval of the industry for dropping the many lawsuits that were stifling its growth. And this is incredibly dangerous,” he told BeInCrypto.
Meanwhile, critical questions that only the SEC can define remain unanswered.
“What are memecoins and who will ensure another LIBRA fiasco doesn’t happen? Are utility altcoins now commodities and if so, will the Commodities Futures Trading Commission (CFTC) regulate them? And, importantly, what do we do about compensating investors who have lost billions to crypto fraud?” Puckrin concluded.
The SEC’s current direction promises a regulated renaissance or a breeding ground for future crises.
With billions lost and critical questions unanswered, the future of crypto hinges on whether the regulatory body will translate its recent shift into a lasting framework that fosters innovation without sacrificing investor protection.
