Coinbase, the largest publicly traded cryptocurrency exchange, said on Thursday it will buy derivatives exchange Deribit in a $2.9 billion deal to expand into the crypto options markets. The move underscores a push by crypto firms to widen their institutional investor base,

Coinbase to acquire Deribit for $2.9 billion, expanding into crypto derivatives market. Aims to offer spot, futures, perpetuals, and options trading under one platform.

Coinbase announced Thursday the biggest deal in the crypto industry to date when it said it would buy derivatives exchange Deribit in a $2.9 billion deal to move into the crypto options markets.