Coinbase Global announced the acquisition of Deribit, a leading crypto derivatives exchange, for approximately $2.9 billion. This deal, involving $700 million in cash and 11 million shares, aims to position Coinbase as a leader in the derivative market by expanding its offerings in crypto options and futures. With Deribitâs impressive trading volume and diverse product range, this acquisition will enable Coinbase to enhance its international reach and better cater to institutional traders, while also boosting profitability through stable options trading.
"We believe crypto options are set for significant growth, and this positions us to lead that expansion."
"Options trading is generally more stable, helping traders manage risk in varying market conditions. Deribit has a history of positive earnings, which we expect to enhance further together."
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