Coinbase Stock Rises 5% After $2.9 Billion Deal To Acquire Deribit

One of the world’s largest cryptocurrency exchanges, Coinbase, announced on Thursday that it has agreed to acquire Dubai-based crypto derivatives exchange Deribit, for $2. 9 billion, marking the largest deal in the crypto sector to date. Coinbase Expands Global Reach With Deribit The acquisition, announced on Thursday, involves a substantial financial commitment, with $700 million in cash and 11 million shares of Coinbase Class A common stock as part of the deal. The transaction is anticipated to close by the end of the year, a timeline that has already positively impacted Coinbase’s stock, with shares rising more than 5% toward the $206 mark following the announcement source: https://www.newsbtc.com/news/coinbase/coinbase-stock-rises-5-after-2-9-billion-deal-to-acquire-deribit/