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.
The Federal Government has announced a nationwide ban on the use of the “Dr” title by recipients of honorary doctorate degrees in official, academic, and professional settings.
The directive was unveiled on Wednesday by the Minister of Education, Tunji Alausa, during a briefing with State House correspondents at the Presidential Villa, Abuja.
Speaking alongside the Minister of State for Education, Suwaiba Ahmad, Alausa disclosed that the Federal Executive Council (FEC) had approved a new uniform policy regulating the award and usage of honorary degrees by Nigerian universities.
According to the minister, the move is intended to curb what the government describes as years of abuse, politicisation, and commercialisation of honorary academic awards.
“The recent trend we’ve seen with the award of honorary degrees has revealed a growing abuse and politicisation of this academic privilege,” Alausa said.
He noted that honorary awards have increasingly been used for political patronage, financial influence, and recognition of serving public office holders—practices he described as inconsistent with the ethical principles guiding honorary degrees.
Under the newly approved policy, recipients of honorary doctorates are no longer permitted to prefix “Dr” to their names. Instead, they must clearly indicate the honorary nature of the award by placing the designation after their names.
For example, recipients may use formats such as Chief Louis Clark, D.Lit. (Honoris Causa) or Mrs Miriam Adamu, LL.D. Hons.
Alausa stressed that misrepresenting honorary degrees as academically earned qualifications will now be regarded as academic fraud and may attract both legal and reputational consequences.
The government also introduced stricter rules on the categories of honorary degrees Nigerian universities are allowed to confer. Institutions will now be limited to only four honorary degree types:
Doctor of Laws (LL.D)
Doctor of Letters (D.Lit)
Doctor of Science (D.Sc)
Doctor of Humanities (D.Arts)
In addition, universities that do not operate active PhD programmes will no longer be allowed to award honorary doctorates.
The policy is expected to significantly affect public figures, politicians, entertainers, religious leaders, and business personalities who commonly adopt the “Dr” title after receiving honorary recognitions.
BREAKING: PSG Set Up Arsenal Champions League Final After 6-5 Aggregate Win Over Bayern Munich—-Reigning European champions Paris Saint-Germain have secured their place in yet another UEFA Champions League final after overcoming Bayern Munich in a fiercely contested semi-final clash.
Paris Saint-Germain have booked their place in the 2026 UEFA Champions League final after edging Bayern Munich 6-5 on aggregate in a dramatic semi-final clash.
The decisive moment came early in the second leg, when Ballon d’Or holder Ousmane Dembélé fired home from close range after being picked out by Khvicha Kvaratskhelia, giving PSG a crucial lead that ultimately proved to be the winner.
Despite the fast start, the game soon became defined as much by controversy as by clear-cut chances. Bayern were left frustrated after Nuno Mendes appeared to handle the ball while already on a booking, but the referee opted against issuing a second yellow card.
Further anger followed when another potential handball incident involving João Neves went unpunished, with officials ruling that the ball had deflected off a teammate in the build-up—therefore not meeting the criteria for a penalty.
Bayern, managed by Vincent Kompany, dominated large periods of the match and created several opportunities. Michael Olise and Jamal Musiala both came close, while goalkeeper Matvéi Safonov was called into action multiple times.
The German side eventually found the net through Harry Kane in stoppage time, but it proved too little, too late as PSG held on to secure their place in the final.
The result extends Bayern’s wait for another European title to six years, while PSG now have the opportunity to win back-to-back Champions League trophies, just a year after claiming their first.
Attention now turns to the final on May 30, where PSG will face Arsenal. The showdown promises high stakes, with either a historic first Champions League title for Arsenal or consecutive triumphs for the French giants on the line.
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