Core Insights - Coinbase Global (COIN) is focusing on inorganic growth through strategic acquisitions, enhancing its capabilities and diversifying revenue streams [1] - The recent $2.9 billion acquisition of Deribit positions Coinbase as a significant player in the crypto derivatives market, adding new revenue streams [2] - Acquisitions like Liquifi and One River Digital are expanding Coinbase's reach into tokenization and institutional services, supporting its growth strategy [3][4] Acquisition Strategy - The acquisition of Deribit enhances Coinbase's offerings in futures, options, and perpetual trading, complementing its existing spot exchange [2][8] - The purchase of Liquifi extends Coinbase's capabilities in token management and digital cap table solutions, potentially paving the way for a U.S. launchpad [3] - Previous acquisitions, such as One River Digital, have strengthened Coinbase's institutional offerings and advanced cryptographic expertise [3][4] Financial Performance - Coinbase's revenue mix is diversifying, with subscriptions and services revenues steadily increasing [4] - The company has a robust balance sheet with over $7 billion in cash and digital assets, supporting its acquisition strategy [4] - COIN shares have gained 20.9% year to date, outperforming the industry, although the price-to-earnings ratio of 48.52 is above the industry average of 24.3 [7][8][9] Earnings Estimates - The Zacks Consensus Estimate for COIN's third-quarter 2025 EPS has increased by 10.7%, while the fourth-quarter estimate has decreased by 0.4% [10] - Full-year 2025 EPS estimates have risen by 93.6%, but 2026 estimates have decreased by 6.8% [10][11] - The consensus estimates indicate year-over-year revenue increases for 2025 and 2026, but a decline in EPS for the same periods [11]

Coinbase Acquires Token Management Platform LiquiFi as Exchange Aims to Expand Its Services► https://t.co/2v7RVehHbb https://t.co/2v7RVehHbb ...