Table of Contents

• Celsius Network

• Coinbase

• Lyft

• Pinterest

Top Stories Today

Celsius Network

Alexander Mashinsky, former head of Celsius Network, has been handed a 12-year prison term after admitting to fraud charges related to misleading investors and manipulating the firm’s token. His conviction follows a broader investigation into Celsius’ deceptive practices, including overstating safety and returns while offloading personal assets. The sentencing took place in Manhattan and reflects a broader crackdown on crypto leaders, with Mashinsky joining a list of disgraced industry figures like Sam Bankman-Fried and Changpeng Zhao. The case coincided with a $4.7 billion settlement Celsius reached with regulators, tied to its bankruptcy proceedings.

Coinbase

Coinbase is set to buy Deribit, a major crypto derivatives platform based in Dubai, for $2.9 billion in a mix of cash and stock, marking the largest acquisition in the sector to date. The move boosts Coinbase’s international presence in crypto options and futures, an area where rivals like Binance currently dominate. Deribit, with over $1 trillion in annual trading and $30 billion in open interest, adds profitable scale to Coinbase’s operations. The acquisition is expected to finalize by year-end and comes amid rising optimism around crypto regulation and increased industry dealmaking.

Lyft

Lyft shares surged after the company raised its stock repurchase program to $750 million and posted stronger-than-expected ride numbers in its latest earnings update. Although revenue slightly missed forecasts at $1.45 billion, the firm swung to a small profit and saw 16% more rides than last year. Active users and gross bookings also beat expectations, and free cash flow more than doubled estimates. CEO David Risher highlighted continued growth and international ambitions, including the acquisition of European taxi platform FreeNow. Lyft anticipates further ride growth and solid bookings in the upcoming quarter.

Pinterest

Pinterest shares soared 15% in after-hours trading following a strong earnings report and optimistic sales forecast. While earnings per share came in slightly below projections, revenue exceeded expectations at $855 million. The platform also surpassed user forecasts with 570 million monthly active users. Despite a small shortfall in North American sales, European revenue and profitability metrics outperformed. Executives expressed confidence in the company’s advertising products and growth potential, even amid global trade tensions. CEO Bill Ready emphasized Pinterest’s transformation into a key shopping hub, especially for Gen Z users.

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