CEX's performance in the first quarter was below expectations, announcing a $2.9 billion acquisition of CEX.

[CEX's first quarter performance fell short of expectations, announcing a $2.9 billion acquisition of CEX] The American encryption exchange CEX released its first quarter financial report, with revenue of $2 billion and earnings per share of $0.24, both below expectations. The trading volume decreased by 10%, and trading income fell by 19% year-on-year to $1.2 billion. CEX stated: "This quarter, we made significant progress on our key initiatives for 2025, including driving revenue, enhancing practicality, and building the foundation for growth over the next decade." Additionally, CEX announced today its acquisition of the crypto derivatives trading exchange CEX for $2.9 billion. Analysts say this will immediately grant CEX global derivatives trading coverage and institutional-grade infrastructure. In a letter to shareholders, CEX mentioned: "We continue to gain market share in the global Spot and derivatives markets," and emphasized that the market capitalization of USDC has surpassed a record high of $60 billion.