Coinbase (COIN) Global has agreed to acquire Deribit, the world’s biggest trading platform for bitcoin and ether options, for roughly $2.9B, executives told The Wall Street Journal, according to Lauren Thomas. Deribit, founded in 2016 and headquartered in Dubai, offers options, futures and spot trading, and the $2.9B deal price consists of $700M in cash and 11M shares of Coinbase Class A common stock, the companies said. For Coinbase, the deal is a push into the highly profitable crypto derivatives market and is meant to bolster the company’s global growth, said Greg Tusar, Coinbase’s vice president of institutional product, who added “This will make us the most comprehensive player in derivatives,” according to The Journal.
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