Coinbase stock acquires Opyn leadership team to boost on-chain efforts

Investing.com - Cryptocurrency exchange Coinbase Global Inc. (NASDAQ:COIN) has acquired the leadership team from Opyn, a blockchain-based derivatives protocol, marking its sixth acquisition of 2025. The company, currently trading near its 52-week high of $395.50, has demonstrated remarkable momentum with a 78% return over the past year and maintains a strong financial health score according to InvestingPro data.

The acquisition brings Opyn CEO Andrew Leone and head of research Joe Clark into Coinbase’s workforce, according to reports noted by Cantor Fitzgerald, which reiterated an Overweight rating and $292.00 price target on Coinbase stock.

Harsha Bhat, VP of Engineering at Coinbase Markets, stated that "Opyn has been building in DeFi since the early days of crypto and Opyn was the first DeFi options protocol."

The move aligns with Coinbase’s strategy to transition more of its exchange business to blockchain technology, with the Opyn leadership expected to accelerate this mission.

This acquisition follows Coinbase’s recent announcement that it would integrate decentralized exchanges on Base, its Ethereum layer-2 protocol, into the main Coinbase app, further strengthening its connections with the decentralized financial ecosystem.

In other recent news, Coinbase Global Inc. reported several significant developments that could impact investors. Citizens JMP lowered its price target for Coinbase from $475 to $400, maintaining a Market Outperform rating, indicating a belief in Coinbase’s long-term potential despite a 16% reduction in valuation. Additionally, Coinbase has partnered with Perplexity AI to offer real-time crypto data, enhancing traders’ decision-making capabilities through the Perplexity Comet browser. This collaboration aims to integrate Coinbase’s market data into Perplexity’s user interface, signaling a step toward broader crypto adoption. Meanwhile, Raymond (NSE:RYMD) James maintained its Market Perform rating for Coinbase, expressing concerns about the company’s long-term earnings potential amid a fluctuating cryptocurrency market.

On another front, Coinbase has been selected by Sequans Communications as the custodian for its bitcoin treasury strategy, utilizing Coinbase Prime’s brokerage platform. Sequans plans to accumulate over 3,000 bitcoins, marking a significant move in its financial strategy. Furthermore, KULR Technology secured a $20 million credit facility from Coinbase Credit, a subsidiary of Coinbase Global, to support its Bitcoin accumulation goals. This credit facility highlights Coinbase’s role in providing financial services to companies integrating Bitcoin into their treasury strategies.

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