Coinbase's $2.9B Deribit Deal a 'Legitimate Threat' for Peers, Wall Street Analysts Say

Coinbase's (COIN) $2.9 billion acquisition of Deribit will be a tipping point for the company, pushing the U.S.-based exchange into direct competition with global heavyweights like Binance, Wall Street analysts wrote on Thursday.
The massive deal is more than just a platform expansion; it's a paradigm shift for the exchange and trading industry. According to the analysts, the deal signals the start of a new consolidation cycle in the crypto trading industry, as smaller exchanges face pressure and TradFi firms look to expand further into the sector.