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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 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 one and a half 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 broadcasts the Super Bowl the year before. Meanwhile, Warner Brothers

Discovery posted a loss of $453 million, a smaller loss than the same quarter a year ago. The company

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