Coinbase to Acquire Deribit for $2.9 Billion
CW19 Market Digest: Coinbase plans a $2.9B acquisition of options platform Deribit, pending approvals. Hong Kong broker Futu introduces BTC, ETH, and USDT deposits for accredited investors. Ripple settles SEC lawsuit for $50M, ending prolonged litigation and potentially benefiting XRP holders.
Coinbase to acquire Deribit
Coinbase announced to acquire Deribit, the leading options trading platform, for approximately $2.9 billion, comprised of $700 million in cash and 11 million shares of Coinbase Class A common stock, subject to customary purchase price adjustments.
This transaction is subject to regulatory approvals and other customary closing conditions and is expected to close by year-end.
HK broker Futu enables BTC/ETH/USDT deposit
Hong Kong-based brokerage firm Futu Securities (also known as Moomoo in other regions) has launched crypto deposit service, after it supported crypto trading service. The firm disclosed this in an official announcement, stating that accredited investors can deposit and trade Bitcoin, Ethereum, and Tether USDT.
According to Futu, the service is available through its retail trading app NiuNiu, and users can switch between traditional financial products and cryptocurrencies with just a click.
SEC and Ripple settle
After months of speculation and legal back-and-forth, Ripple and the U.S. Securities and Exchange Commission (SEC) have officially settled their case. While insiders at Ripple had hinted weeks ago that a deal was done, many in the crypto community were waiting for written confirmation from the SEC itself. That confirmation has now arrived.
The SEC has publicly announced that it has reached a settlement agreement with Ripple to resolve its civil enforcement action. The agreement also covers Ripple’s executives, though that part had already been settled earlier. What matters most to XRP holders is the deal involving Ripple and its XRP token.
According to the settlement terms, Ripple will pay $50 million out of the original $125 million penalty. The remaining amount will be returned to Ripple. Both sides have also agreed to drop their appeals — but only if the court agrees to lift the injunction that has been placed on Ripple for months.
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