Coinbase, the largest publicly traded cryptocurrency exchange, said on Thursday it will buy derivatives exchange Deribit in a $2.9 billion deal to expand into the crypto options markets. The move underscores a push by crypto firms to widen their institutional investor base,

Coinbase acquires Deribit for $2.9 billion, expanding its crypto derivatives market presence with $700 million in cash and Class A stock.

Coinbase to acquire Deribit for $2.9 billion, expanding into crypto derivatives market. Aims to offer spot, futures, perpetuals, and options trading under one platform.