Coinbase CEO Brian Armstrong has announced that the company is actively seeking merger and acquisition opportunities following its recent acquisition of crypto derivatives platform Deribit. Armstrong mentioned in an interview with Bloomberg Television on May 14 that Coinbase is constantly evaluating M&A prospects, leveraging its substantial balance sheet. The firm’s latest revenue report revealed a strong financial position with $9.9 billion in US dollar resources at the end of the first quarter. The acquisition of Deribit, valued at $2.9 billion, with a combination of cash and Coinbase stock, marks the largest acquisition in the crypto industry to date. This move allows Coinbase to enter the lucrative crypto derivatives market and further expand its global reach. Armstrong emphasized the company’s focus on international opportunities and partnerships that align with Coinbase’s growth strategy. However, he remained tight-lipped about any potential acquisition of stablecoin issuer Circle. In another development, Coinbase is set to become the first crypto firm to join the S&P 500 index on May 19, opening up its stock to a broader investor base. This news has driven Coinbase shares up by more than 30% since the beginning of May, reaching $263 in after-hours trading. The surge in stock value is also attributed to the positive market sentiment surrounding the recent acquisition and S&P 500 listing. Overall, Coinbase’s aggressive acquisition strategy and stock performance reflect its strong position in the evolving crypto market.