Behind the frenzied acquisitions, Coinbase is brewing a global merger plan!

After spending $2.9 billion to acquire the derivatives platform Deribit, Coinbase CEO Brian Armstrong has revealed greater ambitions: this is just the beginning.

The acquisitions have just begun, is Coinbase set to swallow multiple companies?

Armstrong has publicly stated that the company is continuously scouting for acquisition targets, "not just buying what we see, but identifying targets that will aid global expansion." His confidence? $9.9 billion in cash reserves and a robust balance sheet.

The largest merger in history, making a leap into the high-profit market

On May 8, Coinbase announced it acquired Deribit for $2.9 billion, including $700 million in cash and 11 million shares. This is the largest merger in the crypto industry to date, and it signifies Coinbase's full entry into the highly profitable derivatives sector.

Targeting overseas, "like-minded" companies are prioritized

Armstrong specifically mentioned that the company will be looking towards international markets, searching for partners that can accelerate product and revenue growth. However, when asked if he is considering acquiring stablecoin issuer Circle, he stated there are no plans to announce at this time.

Behind the scenes: Ripple once offered $5 billion to acquire Circle but was rejected

Amidst this merger frenzy, Ripple has also quietly made a move, offering a higher bid for the same stablecoin issuer, but was turned away. The industry's covert rivalry is quietly escalating.

Market value skyrocketing, entering the S&P 500 is a key turning point

With continuous mergers and favorable news, Coinbase's stock price has surged over 30% in May, and nearly 50% in the past month. On May 19, it will officially be included in the S&P 500 index, becoming the first crypto company to join this top-tier stock index, fully opening the door to mainstream capital.

This is not just an acquisition; it is a rehearsal for the reshaping of the crypto financial landscape.

Who will Coinbase acquire next? The global market is holding its breath.