Coinbase Acquires Deribit for $2.9 Billion With $700M Cash, 11M Shares; Deal Closes by Year-End

Coinbase has announced the acquisition of Deribit, a major crypto derivatives exchange, for approximately $2.9 billion. The deal is comprised of $700 million in cash from Coinbase’s balance sheet and 11 million shares of its Class A common stock, with the transaction expected to close by the end of the year. This represents the largest M&A in crypto history. Deribit reported $1.1 trillion in options trading volume and $400 million in earnings in 2024. Derivatives account for 70% of all crypto trading activity, and the acquisition is expected to offer customers a unified platform for spot, options, and futures trading. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io