After Deribit, Coinbase Signals It’s Not Done Shopping

By: unlock-bc|2025/05/15 18:00:16

Coinbase is prepared to ramp up acquisitions following its $2.9 billion deal to acquire Deribit, CEO Brian Armstrong said in an interview with Bloomberg Television on Wednesday.Deribit, a platform for Bitcoin and Ethereum options trading, marks Coinbase’s largest acquisition to date. The move signals the exchange’s broader ambitions to expand into crypto derivatives markets.With a robust balance sheet, Coinbase is actively exploring M&A opportunities, though Armstrong emphasized the company is being selective. “Part of the benefit of being a public company is, you have a liquid currency to do that,” he said. “We are looking at acquisition opportunities, doesn’t mean we swing at every pitch. We want it to be the right opportunity.”Armstrong added that the company is primarily focused on acquiring international firms aligned with Coinbase’s vision and capable of accelerating product development and growth.When asked about the possibility of acquiring Circle—the issuer of the USDC stablecoin—Armstrong said there was “nothing to announce today,” but did not rule out the prospect.Back in April, Bloomberg reported that Circle turned down an acquisition offer from Ripple Labs worth up to $5 billion.The Deribit acquisition will be funded with $700 million in cash and 11 million Coinbase shares. Analysts believe the deal could significantly boost Coinbase’s presence in the growing crypto derivatives space.Meanwhile, Coinbase is set to make history as the first crypto company to join the S&P 500 index. The inclusion, which takes effect on May 19, marks a major milestone for both the exchange and the broader digital assets sector. S&P Global announced that Coinbase will replace Discover Financial Services in the index, following Discover’s acquisition by Capital One—a reshuffle that ushers crypto into a benchmark long dominated by traditional finance and tech giants.Coinbase shares have surged roughly 27% since the announcement, closing Wednesday up 2.5%, according to Yahoo Finance.For Coinbase and the industry at large, analysts at Bernstein view the S&P inclusion as a watershed moment, estimating it could trigger $16 billion in buying pressure from passive and active funds tracking the index.The post After Deribit, Coinbase Signals It’s Not Done Shopping appeared first on UNLOCK Blockchain.

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.

2025 Full-Year Financial Highlights

Revenue: Expected to be between $39 million and $41 million, reaching a new company high.

Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.

Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.

Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.

Core Consumer Food Business Performance

In 2025, DDC's core consumer food business maintained strong operational performance.

The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.

In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.

Bitcoin Reserve Update

In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.

As of December 31, 2025: The company holds 1,183 BTC.

As of February 28, 2026: Holdings increased to 2,118 BTC

Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC

DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."

Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation

About DDC Enterprise Limited

DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.

The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins