Coinbase（Coin）股票激增4.50％至205.39美元

《华尔街日报》报道并由公司高管确认的该交易包括7亿美元现金和1100万股Coinbase A类普通股。

Coinbase (NASDAQ:COIN) shares rose 4.50% in early trading on Thursday after the largest U.S. cryptocurrency exchange reportedly agreed to acquire crypto derivatives giant Deribit for about $2.9 billion in cash and stock.

Coinbase（NASDAQ：COIN）的股价在周四早些时候上涨了4.50％，因为据报道，美国最大的加密货币交易所同意以大约29亿美元的现金和股票收购加密衍生物巨头deribit。

According to The Wall Street Journal, which first reported the news, citing people familiar with the matter, the deal will see Deribit valued at $700 million in cash and 11 million shares of Coinbase Class A common stock.

据《华尔街日报》（Wall Street Journal）首次报道了这一消息，并引用了熟悉此事的人们，该交易将使deribit价值7亿美元现金和1100万股Coinbase A类普通股。

The report further stated that the global crypto derivatives market is expected to exceed $50 billion in trading volume by 2026.

该报告进一步指出，到2026年，全球加密衍生品市场预计将超过500亿美元的交易量。

Coinbase is pivoting into the lucrative crypto derivatives market, a sector that has been heating up with growing institutional interest in digital assets.

Coinbase正在转向利润丰厚的加密衍生品市场，该市场一直在升温数字资产的机构兴趣。

The move will also help the exchange diversify its revenue streams and maintain its leadership position in the face of stiff competition.

此举还将帮助交易所多样化其收入来源，并在面对激烈竞争的情况下保持其领导地位。

Deribit is a leading platform for crypto options and futures, and its presence in the derivatives market—particularly in Bitcoin and Ethereum options—will complement Coinbase’s existing infrastructure.

deribit是加密货币期权和未来的领先平台，它在衍生品市场（尤其是比特币和以太坊期权）的存在将补充Coinbase现有的基础架构。

This will enhance the exchange’s appeal to sophisticated traders and institutions who prefer more advanced trading instruments and strategies for managing risk in a volatile market.

这将增强交易所对精致的交易者和机构的吸引力，他们更喜欢更先进的交易工具和策略来管理波动市场的风险。

The $2.9 billion valuation for Deribit reflects the premium placed on the company’s specialized expertise and significant market share in a segment that thrives on volatility and hedging strategies.

29亿美元的Deribit估值反映了公司专业知识的溢价和在波动性和对冲策略中蓬勃发展的细分市场中的重要市场份额。

Coinbase’s move comes at a time when regulatory clarity in the U.S. crypto space remains elusive, posing challenges for exchanges like Coinbase to expand their operations smoothly.

Coinbase的举动是在美国加密货币空间中的监管清晰度仍然难以捉摸的时候，对Coinbase等交流构成了挑战，可以顺利扩展其运营。

However, the exchange’s financial strength—bolstered by its public market status—enables it to make bold investments and seize emerging opportunities despite the regulatory hurdles.

但是，尽管受到监管障碍，但该交易所的财务实力（按其公共市场地位都构成了大胆的投资并抓住新出现的机会）。

This acquisition will help Coinbase integrate Deribit’s capabilities and expand its offerings to cater to a wider range of user preferences and trading styles.

此次收购将有助于Coinbase整合Deribit的功能，并扩展其产品，以满足更广泛的用户喜好和交易方式。

The 4.50% stock surge indicates investor confidence in Coinbase’s growth trajectory as it expands into the lucrative derivatives market, which often generates higher fees compared to traditional crypto trades.

4.50％的股票激增表明投资者对Coinbase的增长轨迹的信心，因为它扩展到了有利可图的衍生品市场，与传统的加密货币交易相比，这通常会产生更高的费用。

By integrating Deribit’s advanced trading technology and experience, Coinbase is poised to deepen its competitive moat in a rapidly evolving industry where innovation and scale are crucial for survival and success.

通过整合Deribit的先进交易技术和经验，Coinbase准备在快速发展的行业中加深其竞争性护城河，在这种行业中，创新和规模对于生存和成功至关重要。

This acquisition signals Coinbase’s ambition to dominate the next phase of the crypto market’s maturation, balancing the emerging regulatory landscape with strategic expansion moves to maintain its market leadership position.

此次收购标志着Coinbase雄心勃勃地占据着加密市场成熟的下一阶段的野心，将新兴的监管格局与战略扩张的行动保持平衡，以保持其市场领导地位。