The Milk Road Show How Coinbase Is Building the OS for Crypto Through Strategic Acquisitions w/ Aklil Ibssa
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Jul 7, 2025 Aklil Ibssa, Head of Corporate Development at Coinbase, shares insights on the exchange's bold M&A strategies, including the recent $2.9B Deribit deal. He discusses how Coinbase aligns acquisitions with its product vision and the impact of emerging trends like stable coins and institutional access. Aklil also touches on the importance of regulatory clarity in shaping crypto's future and the evolving role of tokenomics amidst rising interest from traditional institutions. Get ready for a lively conversation on the dynamic world of cryptocurrency!
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Product-Led M&A Strategy
- Coinbase uses a product strategy-led M&A approach to supplement its product vision.
- They target acquisitions aligned with five core product themes for synergy and growth.
Five Core M&A Focus Areas
- Coinbase focuses acquisitions on derivatives, stablecoins, on-chain infrastructure, institutional access, and international expansion.
- These focus areas reflect key growth areas and priorities in crypto.
Stablecoins Power Payments Growth
- Stablecoins and on-chain payments enable cheaper, faster international transfers.
- Coinbase sees USDC and partnerships like with Circle as critical for real-world crypto utility.