Crypto Titans Go on Shopping Spree—Wall Street Left Counting Its Fiat

U.S. blockchain behemoths flex financial muscle with audacious acquisition spree, snapping up traditional giants like they’re buying discounted NFTs. The move reeks of either genius or desperation—depending on which hedge fund manager you ask.

Behind the deals: A play for legitimacy through brute-force market dominance. Because nothing says ’mainstream adoption’ like swallowing your competitors whole.

Bonus cynicism: Watch legacy finance suddenly discover ’synergies’ after years of calling crypto a scam. The only thing sharper than Bitcoin’s volatility? Institutional hypocrisy.

Coinbase and Deribit

alone made its first major acquisition for $1.25 billion and offered $4 billion to Circle. Today, Bloomberg reported that Coinbase intends to purchase Deribit for $2.9 billion. Undoubtedly, they must have significant expectations for the upcoming period, as they have begun spending such large amounts freely. Naturally, this situation is extremely positive for the expectations regarding cryptocurrency markets.

According toand Bloomberg sources, the world’s largest platform for Bitcoin$99,273 options, Deribit, is being sold to Coinbase, the largest U.S exchange by volume.

Former President Trump, who vowed to make the U.S. the capital of crypto, had pledged support for crypto companies in the country. In his recent statement, Greg Tusar, Coinbase’s Vice President responsible for institutional products, said, “This will make us the most important player in the derivatives market.”

The payment will be made with $700 million in cash and 11 million shares of Coinbase Class A common stock.

Last year’s data and market share of the company reveal how significant a step Coinbase has taken.