
Key facts: Coinbase Acquires Deribit for $2.9 Billion; Armstrong Reflects on Fundraising

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In May 2025, Coinbase Global completed a $2.9 billion acquisition of Deribit, the largest acquisition in crypto history, which enhances its position in the derivatives trading market.12Coinbase co-founder Brian Armstrong discussed early fundraising hurdles, noting he sought $1 million but raised only $600,000 at a YCombinator demo day.3
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