Coinbase's $3B Deribit move marks 'new era' for crypto M&A

00:00 Speaker A

Talk to maine astir this woody from Coinbase and and however you complaint it. Do you deliberation that this was the close move?

00:08 Speaker B

Absolutely. And and convey you, Madison. Great to beryllium large to beryllium here. Uh, I deliberation portion of Coinbase's ngo is truly to standard its liquidity. At the extremity of the day, it comes down to liquidity, um, and due to the fact that that's going to beryllium capable to to gully successful much superior and and person the little lower fees and and surely entree points. And derbit is is intelligibly a pathway towards that competitory advantage. Uh, first, it gives them much of a and an planetary footprint, that's thing that Coinbase has been moving hard connected on delivering. And past additionally it enhances their derivatives, um, capabilities for sure. On apical of 800, 800 cardinal of of futures volume, they present adhd a imaginable of, um, astir a trillion dollars successful options measurement connected apical of that. So it's truly helped them connected the organization side.

02:25 Speaker A

And and what does it awesome to you much broadly astir M&A specifically wrong integer currencies?

02:35 Speaker B

Yeah, it's been interesting. There's been a batch of enactment and we we perceive of things uh, constantly. Um, I deliberation we're entering a caller epoch for the crypto industry. Um, it'll beryllium truly absorbing to spot if accepted concern and crypto autochthonal firms travel together. Uh, and besides conscionable from the crypto autochthonal side, however these companies scale. Uh, I deliberation there'll beryllium a batch of competition, which I deliberation volition beryllium bully for the sector, but surely a batch of opportunities. We bash believe, and we've written extensively connected this, that determination volition beryllium a batch much nationalist companies, uh, successful uh, crypto autochthonal nationalist companies to travel out. And and successful our dealings and speaking with a batch of them, is they don't needfully request the money. What they truly bash is crave legitimacy. And they judge that Coinbase has had a spot of an unfair advantage, being a nationalist company, having publically disclosed financials and CEO and CFO attestation. So, uh, I deliberation a batch of crypto autochthonal firms privation to adjacent that competitory spread versus Coinbase.