Saturday, July 26, 2025

Creating liberating content

Union minister Piyush Goyal (left) and Britain’s secretary of state

Related News

Union minister Piyush Goyal (left) and Britain’s secretary of state for business and trade, Jonathan Reynolds, shake hands after they signed the free trade agreement. (Picture credit: AP) India has

Sanjiv Puri (left), ITC (TOI) Leading FMCG conglomerate ITC Ltd. plans to invest Rs 20,000 crore across its business verticals over the medium term, spanning the next five to six

NEW DELHI: Union commerce and industry minister Piyush Goyal on Saturday hailed the newly signed free trade agreement with the United Kingdom and said that the deal was signed on

Edelweiss mutual fund CEO Radhika Gupta emphasized the importance of adopting a more well-rounded approach to personal finances, one that extends beyond the conventional emphasis on saving and long-term investing.“My

While treatment costs in India are low, so are the medical insurance premiums. (AI image) New Delhi: Low medical insurance premiums, affordable treatment costs and high quality healthcare facilities at

For decades, scientists believed the universe would expand forever, driven endlessly outward by a mysterious force known as dark energy. But a new study has upended that view with a

Trending News

NEW DELHI: Union commerce and industry minister Piyush Goyal on Saturday hailed the newly signed free trade agreement with the United Kingdom and said that the deal was signed on

While treatment costs in India are low, so are the medical insurance premiums. (AI image) New Delhi: Low medical insurance premiums, affordable treatment costs and high quality healthcare facilities at

MUMBAI: There is no proposal to allow corporates – either directly or through NBFCs – to obtain banking licences, RBI governor Sanjay Malhotra said on Friday, citing “an inherent conflict

MUMBAI: SBI Cards reported a 6.4% decline in net profit to Rs. 556 crore for the June quarter, compared with Rs. 594 crore a year earlier, as higher impairment losses

This is a representative AI image (Pic credit: Lexica) NEW DELHI: Scotch and British gin makers may have been successful in gaining lower duty access to the Indian market, but

BENGALURU: Bengaluru-based Yali Capital closed its debut deep tech-focused fund at Rs 893 crore, exceeding its original Rs 500 crore target and Rs 310 crore greenshoe option. The Sebi-registered Category

Coinbase acquires crypto derivatives exchange Deribit for $2.9 billion

Word Count: 376 | Estimated Reading Time: 2 minutes


The Coinbase logo is displayed on a smartphone with stock market percentages on the background.

Omar Marques | SOPA Images | Lightrocket | Getty Images

Coinbase agreed to acquire Dubai-based Deribit, a major crypto derivatives exchange, for $2.9 billion, the largest deal in the crypto industry to date.

The company said Thursday that the cost comprises $700 million in cash and 11 million shares of Coinbase class A common stock. The transaction is expected to close by the end of the year.

Shares of Coinbase rose nearly 6%.

The acquisition positions Coinbase as an international leader in crypto derivatives by open interest and options volume, Greg Tusar, vice president of institutional product, said in a blog post – which could allow it take on big players like Binance. Coinbase operates the largest marketplace for buying and selling cryptocurrencies within the U.S., but has a smaller share of the global crypto market, where activity largely takes place on Binance.

Deribit facilitated more than $1 trillion in trading volume last year and has about $30 billion of current open interest on the platform.

“We’re excited to join forces with Coinbase to power a new era in global crypto derivatives,” Deribit CEO Luuk Strijers said in a statement. “As the leading crypto options platform, we’ve built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand. Together with Coinbase, we’re set to shape the future of the global crypto derivatives market.”

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

“One of the things we liked most about this deal is that it’s not just a game changer for our international expansion plans — it immediately diversifies our revenue and enhances profitability,” Tusar told CNBC.

The deal comes at a time when the crypto industry is riding regulatory tailwinds from the first ever pro-crypto White House. Support of the industry has fueled crypto M&A activity in recent weeks. In March, crypto exchange Kraken agreed to acquire NinjaTrader for $1.5 billion, and last month Ripple agreed to buy prime broker Hidden Road.

Don’t miss these cryptocurrency insights from CNBC Pro:



Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account