Coinbase acquires Cripto derivatives deribit derivatives for $ 2.9 billion

Coin Agreed to procure Dubai Deribit, the main exchange of crypt’s derivatives, for $ 2.9 billion, the largest contract in the Cripto industry until today.

Company said Thursday that costs covers $ 700 million in cash and 11 million shares of coinbase usual stocks. The transaction is expected to close by the end of the year.

The actions of the waitress rose almost 6%.

Positioning of coins as an international leader in CRIPTO derivatives with open interest and options in volume, Greg Tusar, Vice President of the Institutional Product, said in a A post on blog – What could allow to take big players like bynance. Coinbase is doing the largest market for the purchase and sale of cryptocurries in the United States, but has a small part of the global crystatue, where activity takes place to a large extent on binance.

Deribit has facilitated more than $ 1 trillion for the scope of store last year and has about 30 billion dollars in the current open interest on the platform.

“We are excited to join forces with coins to attack a new era in global cryptic derivatives,” said Deribit’s director Luuk Strijers in the statement. “As the leading platforms of the CRIPTO Options, we have built a strong, profitable job, and this acquisition will accelerate the foundations through place, future, constant brand. Together with one reliable brand. Together with a single reliable brand. Together with a single reliable brand.

The Tusar also noticed that Deribit has a “consistent track record” of positive adjusted EBITDA, the company believes that it will grow as a combined entity.

“One of the things that we like about it is that it is not only changing games for our international expansion plans – it immediately varies our income and improves profitability,” said the CNBC tuser.

The agreement comes at the time when the crypto industry is the riding regulatory tickets from the first ever pro-crypto white house. The industry support encouraged the M & A activity of the last weeks. In March, Cripto Exchange Krakeken agreed Get NinjaTrader for $ 1.5 billionand last month he slowed to agree Buy Prime Broker Hidden Way.

By structuring the job as cash transactions and supplies, coins should still have a bandwidth to set up another acquisition if there is an opportunity. From December, the coins had $ 8.5 billion in cash on their balance sheet.