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.
BREAKING: Arsenal Defeat Chelsea 2-1 at Emirates to Extend Unbeaten Run—-The Gunners came from behind after Morgan Rogers’ early opener, with Kai Havertz and Martin Ødegaard completing a comeback victory to maintain Arsenal’s perfect start to the Premier League season.
Arsenal produced another statement performance at the Emirates Stadium on Sunday, coming from behind to defeat Chelsea 2-1 and maintain their perfect start to the Premier League campaign.
Chelsea stunned the home crowd after just 77 seconds, when Morgan Rogers fired Xabi Alonso’s side into an early lead. Arsenal, however, responded strongly and gradually took control of the contest.
Kai Havertz restored parity in the 25th minute against his former club, finishing Arsenal’s sustained pressure to make it 1-1 before the break.
The Gunners continued to dominate after the restart and completed the comeback through captain Martin Ødegaard, who struck early in the second half after Havertz’s clever movement helped create the opening.
Chelsea pushed desperately for an equaliser late on, but Arsenal goalkeeper David Raya produced a crucial save to deny Estêvão and preserve all three points for the hosts.
The victory means Arsenal remain on nine points from three matches, level with Manchester City at the top of the Premier League. Chelsea, meanwhile, suffer their first league defeat of the season and remain on six points.
For Mikel Arteta, the comeback further underlined Arsenal’s championship credentials. The reigning champions showed composure after conceding their first goal of the campaign and once again demonstrated their ability to respond under pressure.
Chelsea’s defeat will be frustrating for Alonso, particularly after his side made such a fast start. Despite their attacking threat, Arsenal’s control and defensive resilience ultimately proved decisive.
The result also extends Arsenal’s remarkable unbeaten run against Chelsea to 12 matches across all competitions, further strengthening the Gunners’ recent dominance in the London derby.
BREAKING: Manchester City Agree £125m Deal to Sign Enzo Fernández From Chelsea On Deadline Day—-Cityzens have reached a British record-equalling agreement with Chelsea for the Argentina international on Deadline Day, with Fernández set to undergo his medical.
Manchester City have agreed a £125 million deal with Chelsea to sign Enzo Fernández in one of the biggest transfers of Deadline Day.
The agreement, reported by Sky Sports and other leading outlets, will see the Argentina international leave Stamford Bridge for the Etihad Stadium in a move that matches the British transfer record previously set by Liverpool’s £125m signing of Alexander Isak.
Fernández is expected to undergo his medical before completing the transfer, with City working against the clock to finalise the deal before the summer transfer window closes.
Maresca Reunites With Fernández
The move will see Fernández reunite with Enzo Maresca, who previously coached him at Chelsea and is now Manchester City’s manager.
Maresca is understood to have been a major driving force behind City’s pursuit of the midfielder as he looks to reshape his squad and strengthen the centre of midfield.
Fernández played an important role during Maresca’s time at Stamford Bridge, helping Chelsea win major silverware before the Italian manager’s move to Manchester.
Chelsea Accept Record Fee
Chelsea signed Fernández from Benfica in January 2023 for approximately £107 million, making him one of the most expensive players in Premier League history at the time.
Just over three years later, Chelsea have agreed to sell the 25-year-old for £125 million, representing a significant return on their original investment.
The Argentine had recently been left out of Chelsea’s squad for successive matches, increasing speculation that his Stamford Bridge future was coming to an end.
City Make Deadline-Day Statement
Manchester City had been pursuing Fernández for much of the summer, but negotiations intensified dramatically as the transfer deadline approached.
Chelsea had previously valued their midfielder at around £120 million and had initially expected him to remain at the club after an earlier deadline for bids passed without a formal offer. However, City’s interest never disappeared, and the two clubs eventually found an agreement on Deadline Day.
The final £125 million package now puts Fernández level with the British transfer record.
Fernández Begins New Chapter
For Fernández, the transfer brings an end to a turbulent period at Chelsea and opens a new chapter under a manager he already knows.
The World Cup-winning midfielder arrived in England with enormous expectations after starring for Argentina and Benfica.
At Manchester City, he will be expected to become a central figure in Maresca’s midfield and help the club compete on multiple fronts.
A Record-Breaking Transfer
The £125 million agreement places Fernández among the most expensive players in football history and makes the Deadline Day transfer one of the biggest stories of the summer window.
City are now racing to complete the remaining formalities, including the medical, before the deadline.
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