Coinbase Shells Out $2.9B for Deribit in Landmark Crypto Deal, Earnings Miss Shadows Acquisition
In a move signaling a major power play in the cryptocurrency derivatives market, Coinbase has announced its acquisition of Deribit, the world’s leading crypto options exchange, for approximately $2.9 billion. This landmark deal, the largest merger and acquisition in the history of the crypto industry, aims to establish Coinbase as the undisputed global leader in crypto derivatives, offering a comprehensive suite of trading products under one roof.
The acquisition, comprised of $700 million in cash and 11 million shares of Coinbase Class A common stock, will see Coinbase absorb Deribit’s dominant position in the crypto options space, which currently boasts around $30 billion in open interest. Deribit facilitated over $1 trillion in…
