Odaily News Coinbase chose to reveal the news of its acquisition of Deribit to the market before the U.S. stock market closed and released its financial report on Thursday. Benchmark analyst Mark Palmer pointed out that as more institutions adopt cryptocurrencies, the acquisition of Deribit will allow Coinbase to "immediately dominate the fast-growing derivatives field." Oppenheimer analyst Owen Lau believes that this move will make Coinbase a "strong challenger" to Binance, Bybit and OKX in the field of derivatives, and emphasizes that "cryptocurrency options are less cyclical and have stable demand regardless of whether the market is rising or falling." However, Compass Point analysts Ed Engel and Joe Flynn pointed out that Deribit mainly serves institutional clients and does not help increase Coinbase's retail-dominated perpetual contract trading volume. The two analysts downgraded Coinbase's rating to sell last week and reiterated that its U.S. retail trading market has become saturated. Michael Klena of Architect Partners believes that this acquisition will not fundamentally change its assessment of Coinbase (target price of $170). After all, it is just an extension of existing business and cannot reduce the impact of cryptocurrency market volatility on quarterly performance.