Coinbase Ready To Deploy $9.9 Billion War Chest On More Deals Following Deribit Acquisition
Coinbase CEO Brian Armstrong says his firm is exploring more acquisition opportunities after acquiring crypto derivatives platform Deribit for $2.9 billion in May. “We are looking at acquisition opportunities; doesn’t mean we swing at every pitch,” Armstrong said in a May 14 interview with Bloomberg Television. “We want it to be the right opportunity.” Armstrong went on to say that Coinbase is particularly interested in international opportunities, “companies that think similar,” and companies that can accelerate the exchange’s product development and growth. Coinbase Sitting On Healthy Cash Reserves Armstrong also said that Coinbase has a large balance sheet that can be put to use. “Part of the benefit of being a public company is, you have a liquid currency to do that,” he said. That’s after the company revealed in its latest revenue report that its balance sheet strengthened, closing t...