Coinbase has announced it will acquire Deribit, a leading crypto derivatives exchange, in a deal worth approximately $2.9 billion (€2.57 billion).
The acquisition includes $700 million in cash and 11 million shares of Coinbase Class A stock, marking one of the largest crypto M&A deals to date.
About Deribit
Founded by brothers John and Marius Jansen in the Netherlands and now headquartered in Dubai, Deribit started as a BTC-focused trading platform but has since evolved into a global leader in crypto futures and options. The platform processed over $1 trillion in trading volume last year, attracting institutional traders worldwide.
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Why Coinbase is buying Deribit
Coinbase sees the acquisition as a strategic play to expand its dominance in the crypto derivatives space. Deribit leads in options trading, and its inclusion allows Coinbase to offer a full-stack platform covering spot, futures, perpetuals, and options. The move also diversifies Coinbase’s trading revenue and adds a profitable asset to its portfolio.
“Crypto options are set for significant growth,” Coinbase stated. “This positions us to lead that expansion and provide better tools for risk management and market participation.”
A boost in global and institutional reach
The acquisition helps Coinbase extend its global footprint and better cater to institutional clients, particularly those active in derivatives markets. While U.S. users will continue to trade futures under regulatory compliance, international users gain expanded access to more trading products.
Deribit CEO Luuk Strijers commented: “Joining Coinbase marks a new chapter. We’ve built a profitable, trusted platform, and this deal allows us to scale further while delivering even more value to our users.”
Closing timeline
The transaction is expected to close by the end of 2025, pending regulatory approvals. Once finalized, Coinbase will become a major force in global crypto derivatives, further blurring the lines between traditional finance infrastructure and the decentralized future.
