“We have a large balance sheet”

By: bitcoin ethereum news|2025/05/15 10:30:08
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Key Takeaways Coinbase acquired Deribit for $2.9 billion to expand its derivatives market presence. CEO Brian Armstrong indicated interest in further acquisitions, especially international ones. Coinbase is ready to spend more on acquisitions after reaching a $2.9 billion deal to acquire Deribit, said CEO Brian Armstrong on Bloomberg Television today. Deribit is the leading platform for Bitcoin and Ethereum options trading. The acquisition is Coinbase’s largest so far. With a strong balance sheet in hand, Coinbase is actively scouting M&A deals, Armstrong said, but the company is only interested in the right ones. “Part of the benefit of being a public company is, you have a liquid currency to do that. We are looking at acquisition opportunities, doesn’t mean we swing at every pitch. We want it to be the right opportunity,” he said. Armstrong said he’s focused on deals with like-minded international firms that could accelerate Coinbase’s product development and growth. When asked whether Circle might be under consideration, he responded there was “nothing to announce today,” though he didn’t rule out the possibility. Circle, which issues the popular USDC stablecoin, was previously approached by Ripple Labs with a bid of up to $5 billion, Bloomberg reported in April. The offer was ultimately declined. The addition of Deribit to Coinbase’s portfolio is anticipated to help the company expand its footprint into the crypto derivatives market. The transaction will be paid off through $700 million in cash and 11 million shares of Coinbase stock. The largest US crypto exchange saw its shares rise by around 27% after it was announced that it would join the S&P 500 index, replacing Discover Financial Services. The stock closed Wednesday up 2.5%, per Yahoo Finance data. For Coinbase and the crypto industry as a whole, the imminent inclusion is viewed as a watershed moment. Analysts at Bernstein estimate that passive and active funds tracking the index could generate $16 billion in buying pressure. Source: https://cryptobriefing.com/coinbase-acquisitions-strategy/

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