Breaking: Coinbase Buys Deribit for Nearly $3 Billion
Analysis
Price Impact
HighCoinbase acquiring deribit for $2.9 billion signals a significant expansion into the crypto derivatives market, potentially increasing trading volumes and attracting more institutional investors.
Trustworthiness
HighReport from the wall street journal and confirmed by multiple sources, along with the fact that the shares of coinbase are up nearly 5% in pre-market trading.
Price Direction
BullishIncreased market participation and investor confidence due to coinbase's strategic move could drive prices up for major cryptocurrencies.
Time Effect
LongThe acquisition is a long-term strategic move that will unfold over time, impacting the crypto market as derivatives trading becomes more accessible and integrated within coinbase's platform.
Original Article:
Article Content:
Cover image via www.freepik.com Read U.TODAY on Google News According to a report by The Wall Street Journal, Coinbase, the leading US cryptocurrency exchange, has agreed to buy crypto options trading giant Deribit for a staggering $2.9 billion. Advertisement Coinbase intends to gain a firmer footing within the thriving crypto derivatives market with the latest deal. The shares of Coinbase are up nearly 5% in pre-market trading. HOT Stories Breaking: Coinbase Buys Deribit for Nearly $3 Billion Bitcoin (BTC) Breaks Another All-Time High Third Week in Row 'Rich Dad Poor Dad' Author: Bitcoin Is Your Defense In Current Global Insanity - ‘Prepare for Crash’ Michael Saylor Reveals His X Bitcoin Success Strategy The crypto megadeal comes after enterprise blockchain Ripple announced that it was buying prime brokerage Hidden Road for $1.25 billion. Advertisement Kraken, one of Coinbase's main competitors, agreed to acquire futures trading platform NinjaTrader for $1.5 billion. #Coinbase #Bitcoin News