Bitcoin (BTC-USD) surged above $100,000 on Thursday for the first time since February.
The world’s largest cryptocurrency rose alongside the overall market after President Trump unveiled a trade deal with the UK, signaling a deescalation of tariffs.
Coinbase’s (COIN) announcement earlier in the day about the crypto exchange’s deal to acquire options platform Deribit for $2.9 billion also helped boost sentiment in the sector.
Bitcoin rose as much as 4% to trade north of $100,900 near 11:30 a.m. ET on Thursday as Trump spoke in the Oval Office about the UK agreement and indicated other countries also want to strike trade deals with the US.
Bitcoin fell as low as $75,000 in the days following Trump’s “reciprocal” tariff announcement on April 2, otherwise known as “Liberation Day.”
Bitcoin sentiment has grown increasingly bullish during the stock market’s recovery. Signs that companies are taking a cue from firms like Strategy (MSTR) and adding crypto to their balance sheets have also bolstered sentiment toward the sector.
In a note earlier this week, Bernstein analyst Gautam Chhugani said approximately 80 companies have “adopted the ‘Bitcoin Standard,’ adding Bitcoin treasury exposure to their balance sheets, owning ~3.4% of the total BTC supply.”
“The implications for Bitcoin — more resilient corporate/institutional capital supporting through the cycle downturns and accelerated supply squeeze as public corporates continue buying Bitcoin,” Chhugani added.
Year to date, bitcoin is up more than 8%.
Coinbase Global (COIN) has reached an agreement to acquire crypto options platform Deribit for $2.9 billion, one of the most significant deals ever for the cryptocurrency industry.
The deal marks another milestone for Coinbase, the largest cryptocurrency exchange in the US, after missing out for years on the wider transaction volumes and margins that other exchanges captured from derivatives trading.
Coinbase’s stock rose over 4% on the announcement. The Wall Street Journal first reported the deal.
“This isn’t just more products — it’s deeper liquidity, tighter spreads, and better tools for institutional and retail traders alike,” Greg Tusar, Coinbase’s head of institutional product, said in an emailed statement.
Deribit “isn’t just another addition,” he added in a blog post.
The acquisition follows Coinbase’s purchase of asset manager One River Digital in 2023, derivatives exchange FairX in 2022, crypto brokerage platform Tagomi in 2020, and custody business Xapo in 2019.
Coinbase is paying for Deribit with a mix of its own common stock and $700 million in cash.
The deal is the latest example of how the crypto industry has emerged as one of the few bright spots for merger and acquisition activity this year, even as other industries hold back amid the economic uncertainties triggered by President Trump’s trade wars and tariffs.
The biggest driver of that crypto optimism is Trump’s continued embrace of digital assets. He is pushing for more favorable regulation of the industry, and Coinbase is expected to be one of the biggest beneficiaries.
Some other big crypto deals so far this year include Coinbase’s US rival Kraken announcing an agreement to purchase crypto futures trading platform Ninja Trader for $1.5 billion in March and Ripple Labs agreeing last month to buy crypto broker and financing firm Hidden Road for $1.25 billion.
Coinbase reports first quarter earnings Thursday afternoon. Its profits are expected to decline, while net revenue is expected to jump compared to a year ago. It recognized a $737 accounting gain on its crypto asset holdings in the first three months of last year.
Argentina Stun Egypt with Three-Goal Blitz, Messi Leads Heroic Comeback—-The defending champions looked destined for elimination after falling 2-0 behind to Egypt, but Lionel Messi inspired a breathtaking late comeback as Argentina scored three goals in the final 11 minutes to win 3-2 and keep their World Cup title defence alive.
Argentina produced one of the most dramatic comebacks of the 2026 FIFA World Cup, recovering from a two-goal deficit to defeat Egypt 3-2 in an unforgettable Round of 16 clash and book their place in the quarter-finals. Lionel Messi once again proved the difference, scoring the equaliser after earlier missing a penalty before Enzo Fernández completed the remarkable turnaround in stoppage time.
The reigning world champions dominated possession from the opening whistle but were stunned in the 15th minute when Yasser Ibrahim rose above Lisandro Martínez to power home a header from Marwan Attia’s corner. Argentina had the perfect opportunity to respond six minutes later after Nicolás Tagliafico won a penalty, but Egyptian goalkeeper Mostafa Shobeir guessed correctly to deny Messi from the spot—his second penalty miss of the tournament. Shobeir continued his outstanding performance before halftime, producing excellent saves to frustrate Alexis Mac Allister and Julián Álvarez as Egypt carried a 1-0 lead into the break.
Egypt thought they had doubled their advantage early in the second half, only for Mostafa Zico’s effort to be ruled out following a VAR review. The Pharaohs refused to be discouraged, however, and eventually found a second goal in the 67th minute when Zico finished a swift counterattack after brilliant work from Mohamed Salah and Haissem Hassan, leaving Argentina facing a shock World Cup exit.
With time running out, Lionel Scaloni’s side mounted an extraordinary fightback. Cristian Romero sparked hope in the 79th minute, rising unmarked to head home Messi’s inviting free-kick. Four minutes later, Messi redeemed his earlier penalty miss by firing a powerful effort that clipped the goalkeeper’s gloves before crashing in off the underside of the crossbar to level the score at 2-2 and ignite wild celebrations among the Argentina supporters.
As extra time loomed, Argentina completed the impossible. Deep into stoppage time, Lautaro Martínez delivered a pinpoint cross into the penalty area where Enzo Fernández arrived to guide a composed header into the bottom corner, sealing a sensational 3-2 victory and one of the greatest comeback wins in World Cup knockout history.
The victory keeps Argentina’s hopes of retaining the World Cup alive and sends them into the quarter-finals, where they will face the winner of Switzerland and Colombia. For Egypt, it was a devastating end to a superb performance, having come within minutes of eliminating the defending champions before Argentina’s late surge turned the match on its head.
Messi’s goal not only rescued Argentina but also added another chapter to his extraordinary World Cup legacy. Despite the missed penalty, the 39-year-old captain delivered when his nation needed him most, inspiring a comeback that will be remembered as one of the defining moments of the 2026 tournament.
Portugal’s hopes of winning the 2026 FIFA World Cup came to a heartbreaking end after Mikel Merino’s late strike earned Spain a dramatic 1-0 victory in a tense Round of 16 clash at Dallas Stadium.
Just when extra time appeared inevitable, substitute Merino delivered the decisive moment in the 91st minute, calmly slotting home after being picked out by Ferran Torres to send Spain into the quarter-finals and leave Portugal devastated.
The highly anticipated Iberian derby lived up to its billing, with both sides creating opportunities in an evenly contested first half. Spain threatened through Mikel Oyarzabal and the lively Lamine Yamal, while Portugal came close through Cristiano Ronaldo, João Félix and Nuno Mendes. Goalkeepers Unai Simón and Diogo Costa were both called into action as neither side could find a breakthrough before the interval.
After the restart, Spain gradually took control of possession, patiently probing Portugal’s defence with Rodri, Pedri and Dani Olmo dictating the tempo in midfield. Portugal remained disciplined at the back and looked dangerous on the counterattack, but Roberto Martínez’s side struggled to create clear-cut chances as Spain’s pressure continued to build.
The decisive moment finally arrived deep into stoppage time. Ferran Torres threaded a clever pass into the path of Merino, who had only been on the pitch for a few minutes. The Arsenal midfielder kept his composure, steering a low finish beyond Diogo Costa to spark jubilant celebrations among the Spanish players and supporters.
Portugal threw everyone forward in a desperate search for an equaliser. Bernardo Silva came agonisingly close in the dying moments, but his header drifted over the crossbar as Spain held firm to secure a famous victory.
The defeat marked a bitter end to Cristiano Ronaldo’s final World Cup campaign. The 41-year-old captain, who had confirmed before the tournament that this would be his last appearance on football’s biggest stage, was unable to inspire Portugal to another comeback despite leading the line throughout the contest. As the final whistle blew, Ronaldo received a standing ovation from supporters, bringing the curtain down on one of the greatest World Cup careers in football history.
Spain, meanwhile, march confidently into the quarter-finals, where they will face the winner of the United States and Belgium. Luis de la Fuente’s side once again demonstrated their resilience and patience, with Merino’s late heroics keeping alive their dream of lifting a second FIFA World Cup trophy.
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