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Coinbase, the leading U.S. crypto exchange, has announced a $2.9 billion acquisition of Deribit, a major digital assets options exchange. The deal includes $700 million in cash and 11 million shares of Coinbase stock, boosting its derivatives business.
- Deal structure: $700M cash + 11M Coinbase shares (valued at $2.9B total).
- Deribit founders to step down post-acquisition, expected by end of 2024.
- Coinbase stock (COIN) surged 4% to $205/share after the announcement.
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Related Tags: Coinbase Global Inc.