According to Lex Sokolin, Coinbase’s $2.9 billion deal to acquire a stake in Deribit signals a strategic shift toward crypto options trading as a key profit center for public companies (source: Lex Sokolin on Twitter, May 8, 2025). This move underlines that infrastructure may not yield immediate returns, while options markets, similar to those driving profits at Robinhood ($HOOD), are emerging as primary revenue generators. Traders should note that increased institutional focus on options products could boost liquidity and volatility in the crypto derivatives market, potentially impacting pricing and spreads across major assets.