Coinbase has agreed to pay $ 2.9 billion to buy Bitcoin (BTC) and Ether (ETH) Option Platform, according to a press release marking its official push into the very profitable cryptoderivatmarked in the US
Crypto Exchange along with competitor Kraken had been in negotiations to buy abandoned for months, with Bloomberg, who reported that options Giant could be appreciated at $ 4 billion to $ 5 billion.
Kraken instead bought the US futures platform Ninja Trader for $ 1.5 billion, so the exchange can compete with coinbase in offering futures and derivatives in the US
Coinbas’s acquisition comes after what has been a busy year in crypto -dealmaking as companies place themselves in what US President Donald Trump has promised to become “crypto capital in the world.”
Deribit trading includes $ 700 million in cash and 11 million shares in Coinbase Class A Common Stock, according to companies, making it one of the biggest offers in the industry and “[giving] The company is an immediate and dominant foothold in the room with high growth derivative in front of an expected increase in institutional adoption of digital assets, ”according to a note from Benchmark analyst Mark Palmer.
Founded in 2016, Deribit has quickly taken over the market share for trade in digital asset options. The exchange treated $ 1.2 trillion in volume in 2024, an increase of 95% over the year, the company had reported in January.
Update (May 8, 14:18 UTC): Adds additional comments from Benchmark’s Mark Palmer.
