09:23 AM EDT, 05/08/2025 (MT Newswires) -- (Update with a statement from Coinbase.)

Coinbase Global ( COIN ) has agreed to acquire cryptocurrency trading platform Deribit for roughly $2.9 billion, The Wall Street Journal reported Thursday, citing comments from executives.

The deal consists of $700 million in cash and 11 million shares of Coinbase class A common stock, according to the report.

"This strategic acquisition significantly advances Coinbase's derivatives business, establishing us as the premier global platform for crypto derivatives," Coinbase said in a statement on its website.

Shares were 5% higher in recent premarket activity.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)