Coinbase is prepared to increase its spending on acquisitions after finalizing a $2.9 billion deal to acquire Deribit, CEO Brian Armstrong announced on Bloomberg Television.
Deribit is the leading platform for Bitcoin and Ethereum options trading, marking Coinbase’s largest acquisition to date.
Armstrong stated that with a strong balance sheet, Coinbase is actively seeking M&A opportunities but remains focused on finding the right fit. “Being a public company provides a liquid currency for these endeavors. We’re exploring acquisition opportunities, but we’re selective,” he explained.
He emphasized that his focus is on deals with like-minded international firms that could enhance Coinbase’s product development and growth.
