Coinbase Acquires Deribit: A New Milestone in the Cryptocurrency Industry
Coinbase Global, Inc. (NASDAQ: COIN), the leading cryptocurrency exchange in the United States, announced plans to acquire Deribit, a reputable derivatives exchange, in a deal worth $2.9 billion. The deal includes $700 million in cash and 11 million Class A shares of Coinbase. The transaction still requires approval from regulators and is expected to be completed by the end of this year.
The acquisition of Deribit not only helps Coinbase strengthen its position in the cryptocurrency derivatives space but also expands trading opportunities for users globally. According to Deribit CEO Luuk Strijers, this collaboration will provide traders with more options in spot, futures, perpetuals, and options trading.
Strategic Impact on the Cryptocurrency Market
With an open interest volume exceeding $30 billion and over $1 trillion traded in 2024, Deribit is a valuable asset for Coinbase. Once the deal is completed, Coinbase will become a major player in the cryptocurrency derivatives market, especially regarding options trading volume.
Coinbase's presence in over 100 countries will enable many cryptocurrency traders to access the derivatives market more legally and safely. Moreover, this opens the door for institutional investors worldwide to participate in the OI market of Bitcoin and Altcoins through their Coinbase accounts.
Growth and Innovation Potential
In the face of fierce competition from exchanges like Binance and Bybit, the acquisition of Deribit helps Coinbase diversify its revenue streams and solidify its market position. Following this announcement, Coinbase's COIN shares rose by 6%, reaching $208 on May 8 during North American trading.
This deal marks an important step for Coinbase in reshaping the future of the global cryptocurrency derivatives market, facilitating innovation in this industry.
Source: https://tintucbitcoin.com/tac-dong-lon-den-thi-truong-tien-dien-tu/
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