Coinbase to Acquire Deribit for $2.9B, Enhancing Crypto Derivatives Presence

Coinbase acquires Deribit for $2.9B to expand into the profitable crypto derivatives market. The $2.9 billion deal includes $700 million in cash and 11 million Coinbase shares. The acquisition strengthens Coinbase’s global presence and accelerates international growth. Coinbase, the biggest cryptocurrency exchange in America, will acquire Deribit, a major crypto derivatives platform. The $2.9 billion deal was officially confirmed on May 8. Coinbase is on a mission to penetrate the lucrative crypto derivative market. The agreement aligns with Coinbase’s broader strategy to accelerate global growth and broaden its product offerings in the crypto derivatives space. The $2.9 billion deal includes $700 million in cash and 11 million Coinbase Class A shares. Once regulatory approvals are obtained, this deal should be closed by the end of the year. Greg Tusar, vice president of institutional product at Coinbase, revealed that Deribit’s long-standing presence in the markets will speed up Coinbase’s international growth. We are acquiring @DeribitOfficial to build the most powerful global crypto platform—bringing spot, futures, and options together under … The post Coinbase to Acquire Deribit for $2.9B, Enhancing Crypto Derivatives Presence appeared first on Coin Edition .

Source: Coin Edition