The secret behind Coinbase’s billion-dollar acquisition strategy

With an estimated worth of $100 billion, it’s hard to judge that a institution similar Coinbase needs to get caller businesses to grow. But with $10 cardinal of currency connected hand, the US’s biggest cryptocurrency speech continues to question retired the adjacent large accidental successful the sector.

Coinbase has not been shy astir penning checks successful 2025. The speech reportedly paid $2.9 cardinal successful a cash-and-stock acquisition of cryptocurrency options trading level Deribit successful August.

Then came its headline-grabbing $375 cardinal acquisition of onchain superior raising level Echo successful October. Crypto Twitter was buzzing implicit the news, acknowledgment to immoderate genius marketeering involving Echo’s laminitis and influencer Cobie, who received an further $25 cardinal from Coinbase to relaunch his long-dormant UpOnly podcast.

The headlines archer a communicative of fortune-making handshakes betwixt Coinbase and unicorn founders, but determination is important intent, probe and condemnation down these multimillion-dollar moves.

— Gareth Jenkinson (@gazza_jenks) October 28, 2025

To unpack however Coinbase is actively investing billions of dollars successful circumstantial companies, Cointelegraph spoke to Aklil Ibbsa, Coinbase’s Head of Corporate Development and M&A connected its regular Chain Reaction livestream amusement connected X.

Related: Coinbase splashes $25M to revive a podcast from the past bull run

Power instrumentality distribution

Ibssa has been starring planetary firm improvement astatine Coinbase since 2019 and has been intimately progressive successful each of the firm’s large acquisitions. 

“In galore ways, it is simply a powerfulness instrumentality distribution. If you’re reasoning astir however to proceed to turn Coinbase oregon turn immoderate imaginable acquirer that you’re moving on, you’re going to instrumentality a batch of shots connected goal. Not each azygous 1 is going to beryllium a large changeable connected goal, but the winners truly commencement to wage for the remainder of the portfolio,” Ibssa said.

Related: Coinbase bets $375M that onchain ICO crowdfunding is crypto’s adjacent wave

Ibssa highlighted mergers and acquisitions arsenic a premier illustration of this approach. Describing their moves similar an “ESPN highlight” reel, the institution has enjoyed immoderate palmy and not-so-successful concern deals implicit the past six years.

Ibssa said that a fistful stay apical of mind, including Coinbase’s reported $41 cardinal woody for Tagomi, which became the ground of Coinbase Prime. 

“Coinbase Prime, successful our organization business, present makes up a important information of our gross truthful I would flip that connected the ESPN item reel.”

Ibssa besides highlighted the company’s 2019 woody to acquire Xapo’s organization businesses. He described the interaction of that woody arsenic “single-handedly making america the largest crypto custodian connected the satellite astatine the time.”

The exchange’s $2.9 cardinal acquisition of Deribit is by acold the largest successful 2025, and Ibssa said that post-close, the woody has shown “really beardown fiscal performance.”

“Who doesn’t privation to get acquired by Coinbase?”

“What does the table look like? Coinbase is simply a astir $100 cardinal institution with adjacent to $10 cardinal of cash, truthful who doesn’t privation to get acquired by Coinbase?” Ibssa said.

He describes the occupation arsenic “very fast-paced,” with aggregate imaginable M&A deals stacked connected his table astatine immoderate fixed time. Deciding connected what deals to prosecute has predominantly been based connected opportunities that could go an hold of Coinbase’s wide merchandise strategy.

“We person a precise wide strategy and absorption for the concern and M&A is conscionable a instrumentality for america to assistance accelerate getting determination faster.”

Coinbase’s wide strategy follows this mantra: place and backmost companies, products and services that accelerate its extremity of being an “everything exchange.”

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