In a major move that’s shaking up the crypto world, Coinbase has announced its plan to acquire Deribit, the UAE-based and world-leading crypto options exchange. This $2.9 billion acquisition is set to make Coinbase the most comprehensive global platform for crypto derivatives trading.
With Deribit currently managing over $30 billion in open interest and having facilitated more than $1 trillion in trading volume last year, this deal puts Coinbase in the driver’s seat of the rapidly expanding crypto derivatives market.
Why This Deal Matters
Coinbase sees Deribit as the perfect piece to complete its global trading puzzle. Here’s why this acquisition is a big win:
- ✅ All-in-One Derivatives Platform
Deribit’s strength in crypto options perfectly complements Coinbase’s U.S. futures and international perpetual futures offerings. Together, the combined platform will allow traders to seamlessly access spot, futures, perpetuals, and options—all in one place. - ✅ Market Leadership, Instantly
With this acquisition, Coinbase becomes the global leader in crypto derivatives by open interest and options volume. It’s a bold step, positioning Coinbase to ride the wave of what many believe will be a major growth era for crypto options—much like the stock options boom of the 1990s. - ✅ Stronger, More Stable Revenues
Options trading isn’t just a growth area—it also brings in more consistent and diversified revenue, even during market volatility. Deribit has a solid track record of profitability, and Coinbase expects that trend to continue and grow under its umbrella. - ✅ Accelerated International Expansion
This deal also supercharges Coinbase’s global strategy. Deribit’s strong presence in non-U.S. markets and its focus on institutional clients make it the perfect partner to deepen Coinbase’s international footprint.
What This Means for Traders
Whether you’re a retail trader in the U.S. or a pro managing large positions internationally, Coinbase is working to give you access to every major crypto trading product:
- In the U.S. → Access to spot & futures via Coinbase Financial Markets
- Outside the U.S. → Spot & perpetual futures via Coinbase International
- With Deribit → Now adding deep crypto options liquidity
Luuk Strijers, CEO of Deribit, shared:
“We’re thrilled to join forces with Coinbase. Together, we’ll empower traders globally with robust access to options, futures, spot markets, and more, all under one trusted brand.”
Deal Breakdown
- Total Value: $2.9 billion
- $700M in cash
- 11M Coinbase Class A shares
- Expected Close: By the end of 2025 (pending regulatory approval)
This is Coinbase’s most significant acquisition to date. In effect, building on a series of successful M&A deals that shaped its institutional arm:
- Xapo (2019) → Led to Coinbase Custody
- Tagomi (2020) → Became Coinbase Prime
- FairX (2022) → Now Coinbase Derivatives Exchange
- One River Digital (2023) → Became Coinbase Asset Management
Looking Ahead
This isn’t just another acquisition, it’s a strategic leap toward Coinbase’s goal of becoming the most trusted, comprehensive, and compliant crypto derivatives platform in the world.
With Deribit joining the fold, Coinbase is poised to redefine what’s possible in crypto trading.