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Coinbase has announced its largest acquisition to date, purchasing Dubai-based crypto derivatives exchange Deribit for $2.9 billion. The deal strengthens Coinbase’s global presence and diversifies its revenue streams. Shares of Coinbase rose 5% following the announcement.
- Coinbase acquires Deribit for $2.9B ($700M cash + 11M shares), the largest crypto deal to date.
- Deribit processed $1T in trading volume last year, boosting Coinbase's global derivatives presence.
- Deal expected to close by year-end, already driving a 5% rise in Coinbase's stock price.
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