<ul><li>Coinbase has agreed to acquire Dubai-based crypto derivatives exchange Deribit for $2.9 billion, making it the largest deal in the crypto sector so far.</li><li>The acquisition involves $700 million in cash and 11 million shares of Coinbase Class A common stock, with the deal expected to close by the end of the year.</li><li>Following the announcement, Coinbase's stock rose over 5% towards the $206 mark, indicating positive market reaction to the deal.</li><li>Deribit's strong presence in the crypto derivatives space, with over $1 trillion in trading volume last year, is expected to enhance Coinbase's global competitiveness against major players like Binance.</li></ul>

Coinbase Stock Rises 5% After $2.9 Billion Deal To Acquire Deribit

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