May 8 (Reuters) - Coinbase, the largest

publicly traded cryptocurrency exchange, said on Thursday it

will buy derivatives exchange Deribit for $2.9 billion.

The deal coincides with U.S. President Donald Trump's

advocacy for the digital asset and his pledge to establish

America as the global center of cryptocurrency.

That has prompted several crypto-related firms to explore

mergers and acquisitions to expand increase their user base.

The deal consists of $700 million in cash and 11 million

shares of Coinbase Class A common stock, Coinbase said in a blog

post.

For Coinbase, the deal is a push into the highly profitable

crypto derivatives market and will help provide traders access

to spot, futures and options trading.

"Together with Coinbase, we're set to shape the future of

the global crypto derivatives market," Deribit CEO Luuk Strijers

said.

Shares of Coinbase, which have lost nearly 21% in 2025 as of

last close, jumped 5.2% in trading before the bell.

Kraken, another cryptocurrency exchange, had said in March it

would buy retail futures trading platform NinjaTrader for $1.5

billion.