Coinbase Acquires Deribit for $2.9 Billion, Igniting a Wave of Crypto Derivatives!
U.S. cryptocurrency exchange Coinbase has announced the acquisition of Dubai-based Deribit for $2.9 billion, setting a record for the largest transaction in the crypto industry. The deal includes $700 million in cash and 11 million shares of Coinbase stock, which will help Coinbase enter the highly profitable derivatives market.
The vice president of Coinbase stated that this move will strengthen the company's long-term growth. The acquisition will expand Coinbase into the Asian and European markets. Since its establishment in 2016, Deribit has become the world's largest trading platform for Bitcoin and Ethereum options, with a trading volume of $1.2 trillion last year.
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