Coinbase agrees to buy deribit for $ 2.9 million in the largest digital market offer

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Coinbase Coinbase Coinbase from the United States has agreed to buy Dubai Deribit for $ 2.9 million in the largest agreement in the digital market, as the industry is preparing for a long -awaited demand wave of asset managers and banks.

California Coinbase It will pay $ 700 million in cash and the rest in deribit shares, which last year managed commercial volumes of more than 1 TN, making it the largest market in the world for cryptocurrency derivatives.

“We believe that Crypt options are at the cusp of a significant expansion, similar to the rise of the capital options of the 1990’s,” said Greg Tusar, coinbase institutional product head.

Coinbase shares jumped almost 5 percent up to $ 206 in New York’s initial trade on Thursday. They have been reduced by around 20 percent since the beginning of the year, as a certain optimism has been faded into the presidency of Donald Trump.

However, Bitcoin prices have increased more than 40 percent to almost $ 100,000, as Trump was elected in November after its promise to make the United States “the crypt capital of the world” with light tactile regulations.

Since then, execution cases have been reduced, while regulators have relieved the rules to allow banks to have digital assets on behalf of customers.

This helped the market to affect the concerns about the “Liberation Day” of the President of the United States “Day of Liberation” and promoted this year’s offers.

Last month, Ripple, the payment business, bought Prime Broker Road for $ 1.25 million, while Abu Dhabi’s MGX agreed to travel $ 2 million to Binance, the world’s largest change, using the World Liberty financial coin, which has the support of Trump and his family.

Many traders use derivatives to loan and overload their cryptographic bets, in a market that was hit three years ago.

The industry struggled in 2022 with a series of failed profile, pirates and witness accidents that eroded Investor Trust, especially the failure of the Sam Bankman-Fried FTX bag.

Mark Palmer, a leading capital analyst of the reference company, said that the agreement would “give (Coinbase) an immediate and dominant foot in the space of great growth derivatives before a planned increase in the institutional adoption of digital assets”.

The FT reported previously that Deribit had been looking to enter the North -American Market due to Trump’s promise to make a U.S. a market leader. Crypt exchanges such as OKX and Nexo have already proposed the creation of United States offices.

“As a platform for main crypt options, we have created a strong and profitable business, and this acquisition will accelerate the foundations we laid while providing traders even more opportunities between points, future, perpetual and options, all under a brand of trust,” said Luuk Strijers, CEO of Deribit.

The agreement, which needs regulatory approval, must be closed by the end of the year.

The company will publish the revenue of the first quarter once the market closes.