Coinbase to Acquire Deribit in a $2.9 Billion Deal

Published 7 hours agoCOIN

Coinbase to Acquire Deribit in a $2.9 Billion Deal

Coinbase has announced its intention to acquire Deribit, a leader in cryptocurrency derivatives, for a total of $2.9 billion. The deal includes $700 million in cash and 11 million shares of Coinbase Class A common stock. Reuters reported this strategic acquisition is designed to strengthen Coinbase's position by broadening its offerings to include derivatives like futures and options, alongside its existing spot trading services.

Deribit currently holds the title of the world’s largest crypto derivatives exchange, boasting over $1 trillion in trading volume last year, according to the Financial Times. This acquisition fits into the growing trend of mergers and acquisitions within the industry, largely catalyzed by U.S. President Donald Trump's supportive cryptocurrency policies which aim to position the United States as a leading global crypto hub.

The completion of the acquisition is contingent on regulatory approval and is expected by the end of the year. Reports indicate that following the announcement, shares of Coinbase increased nearly 5% during pre-market trading. As of the latest trading figures, Coinbase shares are priced at $209.105, experiencing a slight rise from the previous day within active intraday trading conditions.

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