Coinbase (COIN) Buys Crypto Options Platform Deribit in $2.9B Cash, Stock Deal
Coinbase has agreed to pay $2.9 billion to buy bitcoin (BTC) and ether (ETH) options platform Deribit, according to a press release, marking its official push into the highly profitable crypto derivatives market in the U.S.
The crypto exchange, alongside competitor Kraken, had been in talks to buy Deribit for months, with Bloomberg reporting that options giant could be valued at $4 billion to $5 billion.
Kraken, instead, purchased U.S. futures platform Ninja Trader for $1.5 billion, allowing the exchange to compete with Coinbase in offering futures and derivatives in the U.S.
Coinbase’s acquisition comes after what has been a busy year in crypto dealmaking as companies are positioning themselves in what U.S. President Donald Trump has…
