As part of its growth strategy, Coinbase has been expanding into the derivatives and tokenization space. In May, it agreed to acquire crypto options trading platform Deribit for $2.9 billion. More recently, it purchased Liquifi, a token management platform that is geared toward early-stage tokenization projects. This acquisition enhances Coinbase's capabilities in managing token cap tables, vesting schedules, and regulatory compliance, which positions it well to support token creators from the earliest stages of development.