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On Thursday, Coinbase announced its acquisition of Deribit in a $2.9 billion deal, the largest merger in the crypto industry to date.
In this episode, Owen Lau, executive director and senior analyst at Oppenheimer, delves into why Deribit was such a coveted prize, what this deal means for the global derivatives landscape, and how Coinbase is using its position as a public company to cement its dominance.
Plus:
- The importance of Coinbase paying mostly in stock and barely touching its cash
- How the derivatives market dwarfs spot trading, and is only getting bigger
- What this means for CME and smaller crypto exchanges
- And how Base, Coinbase’s L2, fits into the long game
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EPISODE TRANSCRIPTGuest
- Owen Lau, Executive Director and Senior Analyst at Oppenheimer