On Thursday, Coinbase announced its acquisition of Deribit in a $2.9 billion deal, the largest merger in the crypto industry to date.In this episode, Owen Lau, executive director and senior analyst at Oppenheimer, delves into why Deribit was such a coveted prize, what this deal means for the global derivatives landscape, and how Coinbase is using its position as a public company to cement its dominance.Plus: The importance of Coinbase paying mostly in stock and barely touching its cash How the derivatives market dwarfs spot trading, and is only getting bigger What this means for CME and smaller crypto exchanges And how Base, Coinbase’s L2, fits into the long gameVisit our website for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.comThank you to our sponsors! FalconX Bitkey: Use code UNCHAINED for 20% off Mantle Guest Owen Lau, Executive Director and Senior Analyst at OppenheimerTimestamps:👋 📢 🔥 📊 ⚔️ 🛡️ 💸 📈 🚀 🔗 🤝 ⚖️ 🧠 📰 Learn more about your ad choices. Visit megaphone.fm/adchoices