US EditionCoinbase agrees to buy Deribit for $2.9bn in digital market’s biggest deal
- Coinbase agreed in 2024 to acquire Dubai-based crypto options platform Deribit for about $2.9 billion in cash and stock.
- The acquisition follows Deribit's rapid growth last year, with total volumes rising 95% to $1.185 trillion amid rising interest in crypto derivatives.
- Deribit’s leading position in bitcoin and ether options complements Coinbase’s US futures and international operations to expand its derivatives offerings.
- Coinbase will pay $700 million in cash plus 11 million shares, and an executive said the deal "immediately diversifies our revenue and enhances profitability."
- The deal, expected to close by year-end pending regulatory approval, positions Coinbase as a top global crypto derivatives platform under one trusted brand.
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Coinbase to buy Deribit for $2.9 billion in landmark crypto deal - Overpasses For America
post. · REUTERS / Reuters · Jason Armond via Getty Images David Hollerith is a senior reporter for Yahoo Finance covering banking, crypto, and other areas in finance. Click here for in-depth analysis of the latest stock market news and events moving stock prices Read the latest financial and business news from Yahoo Finance Source link
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