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Coinbase announced it has agreed to buy Deribit, the world’s biggest crypto options exchange, for $2.9 billion, the biggest merger deal ever in the crypto industry.
The deal will allow Coinbase to fill a missing piece in its derivatives business and push deeper into areas long dominated by big offshore exchanges. Unlike Binance and OKX, Coinbase doesn’t offer #Crypto  options trading yet. It has a small but growing derivatives business, launched in 2023, that offers crypto futures.
Deribit, founded in 2016 and headquartered in Dubai, processed $1 trillion in trades last year. It’s popular among big market makers such as Galaxy Digital, GSR, and Akuna Capital. In the U.S., CME also offers bitcoin and ether options. Coinbase will pay $700 million in cash and 11 million shares for the transaction, which is expected to close by the end of the year, subject to regulatory approvals. The transaction price is lower than the $4 billion to $5 billion valuation that Deribit might be fetching as reported by Bloomberg in January.
Crypto M&A has been heating up amid a favorable regulatory environment under President Donald Trump. Last week, Kraken completed its $1.5 billion acquisition of U.S. retail futures trading platform NinjaTrader, the second biggest crypto deal ever. Stripe closed its acquisition of Bridge, a stablecoin infrastructure firm, for $1.1 billion in February.
Later Thursday, Coinbase reported first-quarter revenue of $2 billion, down 10% from a quarter ago, due to lower trading revenue. Net income for the quarter was $66 million, down from $1.3 billion a quarter ago, driven by unrealized loss of $597 million on its crypto asset investment portfolio. During the first quarter, Coinbase purchased $153 million crypto assets for its corporate investment portfolio, primarily in bitcoin.

https://www.coinbase.com/blog/coinbase-to-acquire-deribit-becoming-the-most-comprehensive-global-crypto-derivatives-platform?utm_campaign=%5BREBRAND%5D+%5BTI-AM%5D+Th&utm_content=1095&utm_medium=email&utm_source=cio&utm_term=124

Coinbase announced it has agreed to buy Deribit, the world’s biggest crypto options exchange, for $2.9 billion, the biggest merger deal ever in the crypto industry. The deal will allow Coinbase to fill a missing piece in its derivatives business and push deeper into areas long dominated by big offshore exchanges. Unlike Binance and OKX, Coinbase doesn’t offer #Crypto  options trading yet. It has a small but growing derivatives business, launched in 2023, that offers crypto futures. Deribit, founded in 2016 and headquartered in Dubai, processed $1 trillion in trades last year. It’s popular among big market makers such as Galaxy Digital, GSR, and Akuna Capital. In the U.S., CME also offers bitcoin and ether options. Coinbase will pay $700 million in cash and 11 million shares for the transaction, which is expected to close by the end of the year, subject to regulatory approvals. The transaction price is lower than the $4 billion to $5 billion valuation that Deribit might be fetching as reported by Bloomberg in January. Crypto M&A has been heating up amid a favorable regulatory environment under President Donald Trump. Last week, Kraken completed its $1.5 billion acquisition of U.S. retail futures trading platform NinjaTrader, the second biggest crypto deal ever. Stripe closed its acquisition of Bridge, a stablecoin infrastructure firm, for $1.1 billion in February. Later Thursday, Coinbase reported first-quarter revenue of $2 billion, down 10% from a quarter ago, due to lower trading revenue. Net income for the quarter was $66 million, down from $1.3 billion a quarter ago, driven by unrealized loss of $597 million on its crypto asset investment portfolio. During the first quarter, Coinbase purchased $153 million crypto assets for its corporate investment portfolio, primarily in bitcoin.  https://www.coinbase.com/blog/coinbase-to-acquire-deribit-becoming-the-most-comprehensive-global-crypto-derivatives-platform?utm_campaign=%5BREBRAND%5D+%5BTI-AM%5D+Th&utm_content=1095&utm_medium=email&utm_source=cio&utm_term=124

Coinbase has entered into an agreement to acquire Deribit, the world's leading crypto options exchange. This strategic acquisition significantly advances Coinbase’s derivatives business, establishing us as the premier global platform for crypto derivatives

Coinbase to Acquire Deribit: Becoming the Most Comprehensive Global Crypto Derivatives Platform

Nate

Coinbase said the SEC had dropped its lawsuit against the company

https://sherwood.news/crypto/sec-drops-coinbase-lawsuit-ceo-armstrong-is-hugely-vindicated-gives-credit/?utm_source=snacks&utm_medium=email&utm_campaign=snacks_20250224&utm_content=b93448d648a2b1bc720fc99584cae665

Coinbase sues the SEC: Crypto startups are getting a lot of coverage from Coinbase’s accounts, as the public web3 giant is using its capital to try force favor regulatory action for its sector. The Block reports that Coinbase is suing over Freedom of Information Act requests that it submitted.

https://www.theblock.co/post/302145/coinbase-sues-sec-fdic-over-foia-requests-says-federal-regulators-trying-to-cut-out-crypto?utm_source=thisweekinstartups.beehiiv.com&utm_medium=newsletter&utm_campaign=webtoon-goes-public-where-vcs-are-looking-for-european-bargains

Coinbase sues the SEC: Crypto startups are getting a lot of coverage from Coinbase’s accounts, as the public web3 giant is using its capital to try force favor regulatory action for its sector. The Block reports that Coinbase is suing over Freedom of Information Act requests that it submitted.  https://www.theblock.co/post/302145/coinbase-sues-sec-fdic-over-foia-requests-says-federal-regulators-trying-to-cut-out-crypto?utm_source=thisweekinstartups.beehiiv.com&utm_medium=newsletter&utm_campaign=webtoon-goes-public-where-vcs-are-looking-for-european-bargains

Coinbase filed lawsuits against the SEC and FDIC for not complying with FOIA, and has asked a court to force those agencies to comply.

Coinbase sues SEC, FDIC over FOIA requests, says federal regulators trying to cut out crypto

Coinbase said the SEC had dropped its lawsuit against the company  https://sherwood.news/crypto/sec-drops-coinbase-lawsuit-ceo-armstrong-is-hugely-vindicated-gives-credit/?utm_source=snacks&utm_medium=email&utm_campaign=snacks_20250224&utm_content=b93448d648a2b1bc720fc99584cae665

Shares of the crypto exchange rose on the news....

SEC drops Coinbase lawsuit; CEO Armstrong is “hugely” vindicated, gives credit to Trump

Cyril

Coinbase, the largest U.S. crypto exchange, reported $1.6 billion in revenue for the first quarter, more than doubled from a year ago and up 72% from the prior quarter, driven by strong crypto market conditions following the arrival of bitcoin exchange-traded funds in January 


https://www.theinformation.com/briefings/coinbase-revenue-jumps-buoyed-by-bitcoin-etf-euphoria?utm_campaign=article_email&utm_content=article-12748&utm_medium=email&utm_source=sg&rc=gzsl71

Coinbase, the largest U.S. crypto exchange, reported $1.6 billion in revenue for the first quarter, more than doubled from a year ago and up 72% from the prior quarter, driven by strong crypto market conditions following the arrival of bitcoin exchange-traded funds in January    https://www.theinformation.com/briefings/coinbase-revenue-jumps-buoyed-by-bitcoin-etf-euphoria?utm_campaign=article_email&utm_content=article-12748&utm_medium=email&utm_source=sg&rc=gzsl71

Coinbase, the largest U.S. crypto exchange, reported $1.6 billion in revenue for the first quarter, more than doubled from a year ago and up 72% from the prior quarter, driven by strong crypto market conditions following the arrival of bitcoin exchange-traded funds in January.    Net income surged to $1.2 billion in the first quarter,  marking the second consecutive quarterly profit for Coinbase,

D J

A group of likeminded people in Crypto are talking about this.