Coinbase Hits New Bitcoin Peak as Thumzup Media Secures $50M for Crypto Expansion

Thumzup Media Corporation, a firm linked to Donald Trump Jr., has raised $50 million to venture into Bitcoin mining and blockchain investments. This funding round, priced at $10 per share, aligns with Bitcoin's surge to a record high of $123,231 on Coinbase. The company aims to deploy part of the capital to acquire state-of-the-art mining equipment, signaling a bullish move in the crypto sector.

Trump Jr.-Linked Firm Thumzup Media Raises $50M for Crypto Expansion Amid Bitcoin Rally

Thumzup Media Corporation, a social media and crypto buying firm associated with Donald Trump Jr., has secured $50 million in funding to expand into bitcoin mining and blockchain investments. The capital raise, executed at $10 per share, coincides with Bitcoin reaching a new all-time high of $123,231 on Coinbase.

The company plans to allocate part of the funds toward acquiring advanced mining rigs, with negotiations already underway with technology providers. Thumzup, which began accumulating Bitcoin in January, now holds 19.1 BTC, joining a growing cohort of public companies treating cryptocurrency as a strategic asset. Donald Trump Jr. personally owns 350,000 shares in the firm.

Bitcoin's surge aligns with broader macroeconomic trends, including a record-setting S&P 500 and softening inflation data. The move by Thumzup reflects increasing institutional interest in crypto assets during a period of heightened market activity.

Coinbase Finalizes Deribit Acquisition to Expand Derivatives Offerings

Coinbase has completed its acquisition of Deribit, marking a strategic push into the derivatives market. The deal, finalized after months of negotiations, positions Coinbase to offer perpetual contracts and options alongside its existing spot and futures services. Deribit's $60 billion in open interest now merges with Coinbase's extensive user base.

Regulatory challenges had prompted Deribit to seek acquisition, while Coinbase gains immediate access to sophisticated derivatives infrastructure. The exchange's tweet announcing the closure called it "the biggest logo x logo partnership in crypto." No timeline was provided for when integrated services will launch.