Coinbase has announced that it will acquire Deribit, described in the source item as the world’s largest crypto options platform, for approximately $2.9 billion. MarsBit framed the transaction with the phrase “a 6.9 times price-to-sales calculation” and discussed the deal in the context of Coinbase’s regulatory and business strategy.
Building a One-Stop Trading Ecosystem
According to the disclosed information, the purpose of the acquisition is to integrate Coinbase’s spot, futures and options trading businesses. The deal is aimed at building a one-stop crypto asset trading ecosystem, bringing multiple trading products under a broader platform structure.
Deribit holds more than 80% of the crypto options market share and has recorded $1 trillion in trading volume, according to the input. The acquisition is expected in the source text to significantly strengthen Coinbase’s profitability and market position, while also advancing the company’s global layout in derivatives trading.