Coinbase’s Acquisition Spree Continues with Tenth Deal of the Year

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Coinbase shares face pressure from a declining Bitcoin market, even as the company forges ahead with its ambitious expansion plan. On Monday, the cryptocurrency exchange announced its tenth acquisition of the year: The Clearing Company, a provider of infrastructure for prediction markets. This move underscores CEO Brian Armstrong's aggressive strategy to diversify the platform beyond its core crypto-trading business.

The acquisition targets a rapidly growing sector. Prediction markets currently see a weekly trading volume of approximately $4 billion. When annualized, this points to a potential market size exceeding $200 billion, a significant jump from the estimated $44 billion in the first half of 2025.

The Clearing Company, founded by Toni Gemayel and a team of former Polymarket and Kalshi employees, provides technology for the clearing and settlement of event-based contracts using regulated stablecoins. Coinbase expects to finalize the transaction in January 2026, though financial terms were not disclosed.

Building the "Everything Exchange"

This deal is the latest in a series of major strategic purchases by Coinbase in 2025. The company acquired derivatives exchange Deribit for $2.9 billion in May, followed by the purchase of investment platform Echo for $375 million in October. In December, the firm formally rebranded its vision as the "Everything Exchange."

Armstrong's goal is to integrate spot cryptocurrency trading, derivatives, stocks, and prediction markets into a single, unified platform. Analysts at Benchmark suggest this broad diversification is an attempt to lessen the company's dependence on pure cryptocurrency price volatility. They note that high-frequency products like prediction markets could provide more stable revenue streams over the medium term.

Share Price Struggles Amid Crypto Downturn

Despite these strategic advances, Coinbase's stock performance remains tightly coupled with Bitcoin's price action. After reaching highs near $126,000 in October, Bitcoin has corrected to around $85,000. The highly volatile Coinbase equity has followed this downward trajectory.

The stock is currently trading near 205 euros, marking a loss of over 18% since the start of the year. From a technical perspective, the share price is testing a key support zone between $235 and $240. A decisive break below this level could trigger further selling pressure. Conversely, a recovery in Bitcoin above $90,000 would likely provide a catalyst for Coinbase shares to rebound.

Key Upcoming Catalysts for Investors

Market participants are focusing on two near-term events. The formal closure of The Clearing Company acquisition in January 2026 will offer the first insight into how swiftly Coinbase can integrate the new prediction market technology.

Potentially more significant will be the quarterly earnings report scheduled for February 2026. This will be the first major financial statement to indicate whether the "Everything Exchange" strategy is successfully offsetting declining fees in the core spot trading business.