Owen Lau

Owen Lau, Executive Director and Senior Analyst at Oppenheimer, shares insights on Coinbase’s groundbreaking $2.9 billion purchase of Deribit, the largest deal in crypto history. He discusses the strategic significance of Deribit’s position in the derivatives market and its implications for Coinbase’s dominance. Lau highlights how the derivatives market is outpacing spot trading and predicts industry consolidation. He also explains Coinbase's decision to primarily use stock in the acquisition and what this means for future revenue and competition among smaller exchanges.