{"id":129280,"date":"2025-05-15T05:26:12","date_gmt":"2025-05-15T05:26:12","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129280"},"modified":"2025-05-15T05:26:12","modified_gmt":"2025-05-15T05:26:12","slug":"coinbase-ceo-looking-at-more-acquisitions-after-2-9b-deribit-buy","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129280","title":{"rendered":"Coinbase CEO looking at more acquisitions after $2.9B Deribit buy"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCoinbase CEO Brian Armstrong says his firm will continue to look for merger and acquisition opportunities after acquiring crypto derivatives platform Deribit.<br \/>\n\u201cWe are always looking at M&amp;A opportunities,\u201d said Armstrong on Bloomberg Television on May 14.<br \/>\nHe added that the firm has a large balance sheet that can be put to use.<br \/>\nThe firm revealed in its latest revenue report that its balance sheet has strengthened, ending the first quarter with $9.9 billion in US dollar resources.<br \/>\n\u201cPart of the benefit of being a public company is, you have a liquid currency to do that,\u201d he said, adding: \u201cWe are looking at acquisition opportunities; doesn\u2019t mean we swing at every pitch. We want it to be the right opportunity.\u201d<br \/>\nOn May 8, the firm announced that it agreed to acquire crypto options trading platform Deribit in a transaction worth $2.9 billion that consisted of $700 million in cash and 11 million shares of Coinbase stock<br \/>\nThe acquisition, the largest in the crypto industry so far, will allow Coinbase to expand into the profitable crypto derivatives market and continue scaling the platform\u2019s global growth.<br \/>\nArmstrong told the outlet that he is looking particularly at international opportunities, \u201ccompanies that think similar,\u201d and can accelerate Coinbase\u2019s product development and growth.\u00a0<br \/>\nRelated: Coinbase\u2019s Deribit buy shows growing derivatives market<br \/>\nHowever, the crypto executive said he had nothing to announce when asked about a potential acquisition of stablecoin issuer and Coinbase partner, Circle, which has filed to go public.\u00a0<br \/>\nIn late April, US fintech firm Ripple bid up to $5 billion in an effort to acquire the stablecoin issuer, but the offer was rejected, reported Bloomberg.\u00a0<br \/>\nCoinbase stock surges<br \/>\nCoinbase will become the first crypto firm to join the coveted S&amp;P 500 index on May 19.\u00a0\u00a0<br \/>\nThe S&amp;P 500 is a stock market index that tracks the performance of 500 of the largest publicly traded companies in the US, and potentially opens up their stock to a broader investor base and exposure to passive funds that track the benchmark.<br \/>\nCoinbase shares ended the day up 2.5% to reach $263 in after-hours trading, according to Google Finance. Company stock (COIN) has skyrocketed more than 30% since the beginning of May, and the two big announcements, and almost 50% over the past month.\u00a0<br \/>\nCoinbase shares 1 month. Source: Google FinanceMagazine: Metric signals $250K Bitcoin is \u2018best case,\u2019 SOL, HYPE tipped for gains: Trade Secrets<a href=\"https:\/\/cointelegraph.com\/news\/coinbase-ceo-looking-more-acquisitions-after-deribit?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCoinbase CEO Brian Armstrong says his firm will continue to look for merger and acquisition opportunities after acquiring crypto derivatives platform Deribit. \u201cWe are always looking at M&amp;A&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129280"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129280"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129280\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129280"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129280"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129280"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}