Latest news with #GregTusar
Axios
03-07-2025
- Business
- Axios
Coinbase acquisition is a bet on easing crypto regulation
Coinbase just made a bet on the future of new tokens with its acquisition of Liquifi, a platform for small startups to distribute and manage new tokens. Why it matters: It's a sign the U.S.'s biggest crypto exchange is betting that regulators will soon ease restrictions on releasing and selling digital assets. How it works: Liquifi is a platform that manages all facets of how a new token enters the world. Everything from automatically distributing tokens to investors and team members per the vesting schedule to facilitating the public launch distribution, whether it's a sale or a giveaway. It's the tokenized version of Carta, which early companies use to distribute equity shares. What they're saying: "Launching a token today is too hard," Greg Tusar, from Coinbase's product team, wrote in Wednesday's acquisition announcement. "We want to remove these barriers by providing both the product and the expertise to make token launches simple, compliant, and scalable." Zoom out: Millions and millions of dollars have flowed through other token launchpads, most particularly at Binance, the world's largest crypto exchange. But for several years now, any exchange doing its best to stay on the good side of U.S. regulators has had to steer clear of getting involved in this early action. In 2017, companies raised several billion dollars selling tokens to the public in what's known as initial coin offerings (ICOs), until the SEC cracked down in early 2018. The impact: The real value for exchanges is in the long tail of these new offerings, with folks trading new tokens they missed buying: All that trading is the real revenue driver for crypto exchanges. Yes, but: U.S. regulators are now approaching the crypto industry — and the token issuance question — in a whole different way. The SEC has held a series of hearing about how to change regulations to fit the new landscape of blockchain technology. One of the most immediate questions for the agency will be how to launch and distribute new tokens. 💭 Our thought bubble: If Coinbase were to use this acquisition to build some kind of launchpad, then a U.S.-based startup will be able to build up a bunch of excitement and users for its product. Then when it's ready to go live with a token, it can just tell followers to register for it on Coinbase. No weird wallets or strange on-chain song and dances (no VPNs to fake not being in the U.S.). Just log in, click and buy. The big picture: A variety of moves out there suggest that companies expect clearer rules for crypto business across the board.
CNBC
08-05-2025
- Business
- CNBC
Coinbase acquires crypto derivatives exchange Deribit for $2.9 billion
Coinbase agreed to acquire Dubai-based Deribit, a major crypto derivatives exchange, for $2.9 billion, the largest deal in the crypto industry to date. The company said Thursday that the cost comprises $700 million in cash and 11 million shares of Coinbase class A common stock. The transaction is expected to close by the end of the year. Shares of Coinbase rose nearly 6%. The acquisition positions Coinbase as an international leader in crypto derivatives by open interest and options volume, Greg Tusar, vice president of institutional product, said in a blog post – which could allow it take on big players like Binance. Coinbase operates the largest marketplace for buying and selling cryptocurrencies within the U.S., but has a smaller share of the global crypto market, where activity largely takes place on Binance. Deribit facilitated more than $1 trillion in trading volume last year and has about $30 billion of current open interest on the platform. "We're excited to join forces with Coinbase to power a new era in global crypto derivatives," Deribit CEO Luuk Strijers said in a statement. "As the leading crypto options platform, we've built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand. Together with Coinbase, we're set to shape the future of the global crypto derivatives market." Tusar also noted that Deribit has a "consistent track record" of generating positive adjusted EBITDA the company believes will grow as a combined entity. "One of the things we liked most about this deal is that it's not just a game changer for our international expansion plans — it immediately diversifies our revenue and enhances profitability," Tusar told CNBC. The deal comes at a time when the crypto industry is riding regulatory tailwinds from the first ever pro-crypto White House. Support of the industry has fueled crypto M&A activity in recent weeks. In March, crypto exchange Kraken agreed to acquire NinjaTrader for $1.5 billion, and last month Ripple agreed to buy prime broker Hidden Road.
Arabian Post
08-05-2025
- Business
- Arabian Post
Coinbase Seals $2.9 Billion Deal for Deribit to Expand Global Crypto Derivatives Reach
Coinbase Global has agreed to acquire Deribit, the world's largest bitcoin and ether options trading platform, for approximately $2.9 billion. The transaction comprises $700 million in cash and 11 million shares of Coinbase Class A common stock, marking the company's most significant acquisition to date. This strategic move positions Coinbase to strengthen its presence in the burgeoning crypto derivatives market, which has witnessed substantial growth in recent years. Deribit, founded in 2016 and headquartered in Dubai, specializes in options, futures, and spot trading. The platform reported a near doubling of its trading volume in 2024, reaching $1.2 trillion, largely attributed to increased institutional participation following the U.S. elections. The acquisition aligns with Coinbase's broader international growth strategy, particularly as the company seeks to expand its services beyond the United States. Deribit's active license to operate in Dubai offers Coinbase a strategic foothold in the Middle Eastern market, a region that has emerged as a key global hub for blockchain and cryptocurrency businesses amid increasing regulatory pressures in the U.S. and EU. Greg Tusar, Coinbase's Vice President of Institutional Product, stated, 'This will make us the most comprehensive player in derivatives.' The deal underscores Coinbase's commitment to diversifying its offerings and catering to the evolving needs of institutional clients. The acquisition comes amid a surge in crypto-related mergers and acquisitions, fueled by a more supportive U.S. regulatory environment under President Trump. The administration has pledged to advance the country as a 'bitcoin superpower,' prompting a wave of deals in the sector. Notably, Kraken agreed to a $1.5 billion deal for NinjaTrader, and Ripple announced a $1.25 billion purchase of Hidden Road. See also Tether Partners with LINE NEXT to Launch USDT on Kaia Blockchain Coinbase's previous acquisitions, including One River Digital and Tagomi , have bolstered its service offerings and footprint in the crypto sector. The Deribit deal represents a significant step in Coinbase's ongoing efforts to expand its global reach and capitalize on the growing demand for crypto derivatives. Deribit's CEO, Luuk Strijers, acknowledged the company's receipt of strategic investment inquiries over time but emphasized that Deribit had not been put up for sale. Despite this, the company engaged Financial Technology Partners to assess potential acquisition offers, reflecting the increasing interest in crypto derivatives platforms. Arabian Post – Crypto News Network
