X @BSCN

Market Expansion & Product Offering - Coinbase finalizes acquisition of Deribit, aiming to become the most comprehensive global crypto derivatives platform [1] - The acquisition enables Coinbase to offer a complete range of trading products, including spot, futures, perpetuals, and options, on a unified platform [2] - Coinbase enhances its ability to scale globally, offering deeper liquidity and broader participation in international markets [2] Financial Performance & Revenue Opportunity - Deribit's trading volumes surpassed $185 billion in July 2025, with approximately $60 billion in current open interest [1][2] - Deribit generated over $30 million in transaction revenue in July 2025 alone [3] - Coinbase anticipates Deribit will be Adjusted EBITDA accretive immediately after the deal closes [4] Operational & Strategic Implications - Deribit is expected to add approximately $10 million to Coinbase's technology, development, and administrative costs in Q3 2025 [4] - Coinbase aims to lead the next wave of innovation in the derivatives space through this acquisition [3] - Coinbase aims to strengthen its position against growing global competition in the derivatives market by integrating Deribit's infrastructure and user base [4]