Coinbase Announces Deribit Acquisition Amidst Strong Trading Volume
Coinbase announced on Thursday that Deribit achieved a trading volume exceeding $1 trillion in 2024, boasting a “loyal base of institutional and professional traders.” This acquisition agreement was reached in May this year, with a transaction amount of $2.9 billion, as part of Coinbase’s international expansion strategy. The company continues to extend its business scope to serve various segments within the cryptocurrency market, currently offering perpetual contract platforms, prime brokerage services, spot retail trading platforms, institutional lending services, and asset custody, striving to become a “one-stop” service platform for the crypto market.
However, influenced by higher-than-expected PPI data, Coinbase’s stock price still fell by 0.65% after the announcement of the Deribit acquisition.
So far this year, Coinbase has acquired six companies and projects, including: Deribit, Spindle (a blockchain advertising platform), Roam (a blockchain-based browser), and Liquifi (a token issuance management platform).