According to a latest report by the Wall Street Journal, Coinbase, the most significant publicly traded cryptocurrency exchange, is set to acquire Deribit. The deal, valued at $2.9 billion, will be paid in a combination of cash and stock.
Coinbase’s move comes as part of its strategy to break into the lucrative crypto derivatives market. As per the report, the deal’s price tag includes $700 million in cash and 11 million shares of Coinbase’s Class A common stock.
Despite the buzz surrounding the acquisition, Coinbase has yet to respond to a comment request from Reuters.
