America’s biggest crypto exchange today went live with 24-7 Bitcoin and Ethereum
Coinbase—which went public in 2021—said that 24-7 trading would allow clients to properly “manage risk” by responding “to price movements and market events in real time, including weekends.” The exchange said it was working with clearing house Nodal Clear to bring users the service. “Extending futures trading to a 24/7 cycle is a fundamental evolution in market structure and one that requires robust risk management around the clock,” the company’s CEO and chairman Paul Cusenza said.
The new service comes one day after the exchange announced that it was buying Dubai-based options exchange Deribit for $2.9 billion. The San Francisco, California-based company said in a company blog post Thursday that the transaction was valued at $2.9 billion. The total price paid will consist of $700 million in cash and 11 million shares of Coinbase Class A common stock, the companies said.
