Record in the Industry from Coinbase! The Leading Cryptocurrency Company Acquired for 2.9 Billion Dollars! - Coin Bulletin

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Coinbase has signed an agreement to acquire the crypto options and futures platform Deribit for approximately $2.9 billion. This agreement marks a record for the industry.

The value of the agreement is expected to be paid in 700 million dollars in cash and 11 million shares of Coinbase's Class A partnership, with regulatory approvals needed for the completion of the transaction and it is anticipated to close by the end of the year. Greg Tusar, Vice President of Corporate Products at Coinbase, stated that this acquisition will accelerate Coinbase's global expansion strategy and enable the company to become the most comprehensive player in the crypto derivatives market.

**Coinbase aims to strengthen its position in the crypto derivatives market by merging with Deribit. Deribit CEO Luuk Strijers stated, "We will further strengthen our leadership in the crypto options market by merging with Coinbase and offer investors more opportunities including spot, futures, perpetual contracts, and options."

Deribit stands out as the largest trading platform in the world for Bitcoin and Ethereum options, with an open interest of 30 billion dollars. Coinbase, as the largest cryptocurrency exchange based in the US, plans to further increase its dominance in the market with this merger.

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