According to Reuters, the listed US cryptocurrency exchange Coinbase plans to acquire the leading crypto options trading platform Deribit for $2.9 billion.
The transaction, valued at $2.9 billion, includes $700 million in cash and 11 million shares of Coinbase Class A common stock. This high-profile acquisition requires approval from relevant regulatory authorities, and following the news, Coinbase's stock rose nearly 5% in pre-market trading.
Targeting US Market and Regulatory Opportunities
Notably, this acquisition is closely related to Deribit's broader strategy of entering the US market. After the Trump administration, considered more crypto-friendly, changes in the US regulatory environment have provided favorable conditions for international crypto platforms to re-enter the market. The Securities and Exchange Commission (SEC) and Department of Justice (DOJ) have shown signs of easing regulatory pressure on crypto companies, which is particularly beneficial for international platforms like Deribit.
The parties have already notified Dubai's regulatory authorities that upon final confirmation of the acquisition, the operating license will need to be transferred to Coinbase and may require approval from Dubai and US regulatory authorities.
