Coinbase to acquire options trading platform Deribit for $2.9B
Summary
Coinbase, the largest US cryptocurrency exchange by trading volume, has agreed to acquire Deribit, a major crypto derivatives platform, for approximately $2.9 billion. The acquisition includes $700 million in cash and 11 million shares of Coinbase Class A common stock, subject to adjustments. This move aims to expand Coinbase's presence in the profitable crypto derivatives market and enhance its global growth strategy. The deal requires regulatory approvals and is expected to close by year-end. Deribit holds a license in Dubai, which would need to be transferred to Coinbase if the acquisition proceeds.
