Coinbase to Continue its Acquisitions

Reading Time: < 1 minute

Coinbase CEO Brian Armstrong announced that the company will continue exploring merger and acquisition opportunities following its acquisition of the crypto derivatives platform Deribit.

Speaking on Bloomberg Television on May 14, Armstrong stated, “We are always looking at M&A opportunities,” and noted that the firm has a substantial balance sheet to leverage.

In its latest revenue report, Coinbase revealed a strengthened balance sheet, ending the first quarter with $9.9 billion in US dollar resources.

Armstrong highlighted the advantages of being a public company, saying, “Part of the benefit is having a liquid currency to pursue acquisitions. We’re looking for the right opportunities, but that doesn’t mean we swing at every pitch.”

On May 8, Coinbase announced its agreement to acquire the crypto options trading platform Deribit for $2.9 billion, comprising $700 million in cash and 11 million shares of Coinbase stock.