Coinbase (COIN) Stock Jumps as Bybit Deal Speculation Heats Up

TLDR

• Coinbase is reportedly in talks to make a major investment in Bybit, one of the largest crypto exchanges outside the US.
• The deal has not been confirmed by either company, but speculation is driving market interest.
• Bybit is valued at around $25 billion, based on comparisons to the ICE-OKX deal.
• COIN stock closed at $195.53, up 1.18% on the day, and is up nearly 20% over the past month.
• The deal could give Bybit a regulated pathway into the US crypto market.

Coinbase is reportedly in discussions to invest in Bybit, the Dubai-based crypto exchange, according to a post by Wu Blockchain on X. Neither company has officially confirmed the talks.

If completed, the deal could give Bybit a regulated route into the US market, where it currently has limited access due to compliance requirements.

Bybit is one of the largest crypto exchanges in the world by trading volume. Entering the US market independently would be difficult without an established compliance framework, which is where Coinbase’s experience becomes relevant.

Coinbase Global, Inc., COIN

The initial reports put Bybit’s valuation at around $25 billion. That figure is derived in part from comparisons to OKX, which was recently backed by ICE at a similar valuation.

Coinbase previously acquired Deribit for $2.9 billion last year, showing an appetite for major strategic moves in the crypto space.

For context, Coinbase has an established track record with US regulatory requirements, including licensing and customer protection standards.

COIN Stock Jumps as Speculation Builds

COIN closed at $195.53 on the day the reports surfaced, a gain of 1.18%. The stock is also up nearly 20% over the past month.

That monthly gain is worth noting, especially given that some analysts had previously forecast a drop toward the $100 level.

COIN wasn’t alone — other crypto-linked stocks including MSTR, MARA, and CRCL also posted gains in the same session, even as the broader market traded lower.

What a Coinbase-Bybit Deal Would Mean

The US is currently working through a period of regulatory development for crypto. While the CLARITY Act has seen multiple delays, the country is moving toward a more defined framework for digital assets.

Under a clearer regulatory structure, Bybit could expand US-facing services legally — but only with the right partner or compliance setup.

The SEC and CFTC have been working together on that framework, which adds some clarity to what a foreign exchange would need to do to operate in the US.

Bybit operating through a Coinbase partnership would sidestep many of those barriers by leveraging Coinbase’s existing regulatory relationships.

As of now, no timeline has been given for a deal, and no terms have been officially disclosed by either side.

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