Coinbase recently announced a $2.9 billion acquisition deal with Deribit, a crypto derivatives exchange, indicating the company's heightened interest in this market sector. The agreement involves transferring $700 million in cash to Deribit, supplemented by Class A stock. This stock-based payment structure may potentially extend the finalization timeline by a few months.

The negotiation process between Coinbase and Deribit commenced in March following Deribit's evaluation of buyout offers earlier in the year. Despite Kraken rejecting a $4-5 billion acquisition proposal, Deribit accepted Coinbase's offer, despite the earlier rejection and its relocation from Russia due to EU sanctions.

Coinbase sees the acquisition as a strategic move to strengthen its position in the derivatives market. With Deribit's significant contributions to global crypto derivatives trading, Coinbase aims to enhance its offerings in this sector.

Deribit's executives will primarily receive compensation in Coinbase's Class A stock, with the cash component amounting to $700 million. This payment structure is expected to slightly prolong the finalization process, though completion is anticipated by the end of the year.

Despite not detailing specific integration plans, Coinbase's acquisition of Deribit positions the company to capitalize on the exchange's user base and trading volumes, enhancing its market presence and capabilities.