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Coinbase Makes Power Play: Drops $2.9B to Swallow Deribit and Dominate Crypto Derivatives
Coinbase Makes Power Play: Drops $2.9B to Swallow Deribit and Dominate Crypto Derivatives
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Wall Street’s worst-kept secret is out—Coinbase just bought the casino. The $2.9B Deribit acquisition marks the exchange’s nuclear strike into crypto derivatives, where 100x leverage and liquidations fuel the real money-making machine.
Deribit’s 85% market share in BTC/ETH options? Now Coinbase’s. The Panama-based platform’s regulatory arbitrage? Suddenly Coinbase’s problem. Traders betting against the house? About to meet their new landlord.
One hedge fund manager quipped: ’Finally, Coinbase found a revenue stream riskier than their legal team’s advice.’ The deal closes Q3—just in time for the next crypto volatility cycle to mint (or incinerate) fortunes.
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