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The largest acquisition in the cryptocurrency Industry: Coinbase acquires the derivatives Exchange Deribit for 2.9 billion USD.
Coinbase acquired the Dubai-based Cryptos derivatives Exchange Deribit for 2.9 billion dollars, setting the largest acquisition deal in the Cryptos Industry to date. The transaction is expected to be completed by the end of this year, with a purchase price that includes 0.7 billion dollars in Cash and 11 million shares of Coinbase Class A common stock. This move aims to enhance Coinbase's position in the Global Cryptos derivatives market to better compete with the likes of Binance. As a result of this news, Coinbase's stock price rose nearly 6% on Thursday.
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