TNB Tech Minute: Coinbase Moves Into Crypto Options With Deribit Deal
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KPMG makes the difference by creating value, like developing strategic insights that help drive M&A success and embedding AI solutions into your business to sustain competitive advantage, or deploying tech-enabled audits to deliver more accurate and transparent outcomes. KPMG drives brighter insights, bolder solutions, better outcomes.

It's how our people make the difference every day. KPMG, make the difference. Learn more at www.kpmg.us slash insights. Here's your TNB Tech Minute for Thursday, May 8th. I'm Julie Chang for The Wall Street Journal.

We exclusively report that Coinbase has agreed to acquire Deribit for about $2.9 billion. Deribit is the world's biggest trading platform for Bitcoin and Ether options. For Coinbase, the biggest cryptocurrency exchange in the U.S., the deal is a push into the highly profitable crypto derivatives market. And it's part of a wave of deals coming at a friendlier regulatory time for the crypto sector under President Trump.

China's largest chipmaker, SMIC, says its net profit last quarter more than doubled from a year earlier to $188 million. The increase was driven up by customers moving up their orders amid geopolitical uncertainties and Beijing's subsidies for consumer electronics. But SMIC management cautioned that the front-loaded demand could weigh on orders in the second half of the year.

And finally, streaming is helping offset TV losses. Paramount says it saw gains in its streaming business, with Paramount Plus adding 1.5 million subscribers last quarter. Revenue in its streaming business grew by 9% from the same period the previous year, but its overall revenue declined, largely because it broadcast the Super Bowl the year before.

Meanwhile, Warner Bros. Discovery posted a loss of $453 million, a smaller loss than the same quarter a year ago. The company ended the quarter with over 122 million streaming subscribers, up more than 5 million from the prior quarter. For a deeper dive into what's happening in tech, check out Friday's Tech News Briefing podcast.

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