Highlights:
- A crypto derivative is a financial instrument whose value is based on an underlying cryptocurrency, such as Bitcoin or Ethereum.
- With this acquisition, Coinbase is set to establish itself as a key player in the global crypto derivatives market and broaden its product portfolio worldwide.
Coinbase Inc. to acquire Deribit in a deal to be valued at USD 2.9 billion. An acquiree is Dubai-based leading global cryptocurrency derivatives exchange.
If completed, this would mark the largest acquisition in the history of the crypto industry. The deal is anticipated to be finalized by the end of 2025, subject to the necessary regulatory approvals. As detailed in the announcement, the deal includes USD 700 million in cash and 11 million shares of Coinbase Class A common stock.
Deribit commands a significant share of the crypto options and derivatives market, having facilitated over USD one trillion in trading volume across Bitcoin and other cryptocurrencies, with approximately USD 30 billion in open interest currently on its platform. “This strategic acquisition significantly advances Coinbase’s derivatives business, establishing us as the premier global platform for crypto derivatives,” Coinbase announced.
A crypto derivative is a financial instrument whose value is based on an underlying cryptocurrency, such as Bitcoin or Ethereum. These contracts enable traders to speculate on price fluctuations, hedge against market risks, or use leverage to amplify potential returns.
Coinbase, the largest cryptocurrency exchange in the United States, provides a platform for buying, selling, and trading a wide range of digital assets, including Bitcoin, Ethereum, and various other tokens. The company also offers additional financial services, such as a crypto-backed debit card and rewards programs aimed at increasing user interaction with the digital asset ecosystem.
This acquisition comes after earlier reports in March indicated that Coinbase was in discussions to acquire Deribit for USD five billion.
With this acquisition, Coinbase is set to establish itself as a key player in the global crypto derivatives market and broaden its product portfolio worldwide. The move positions Coinbase to compete more directly with major offshore exchanges like Binance Holdings Ltd. and OKX, amid rising demand for crypto-based financial instruments such as derivatives.
It also marked a milestone for Bitcoin, which surpassed the USD 100,000 mark for the second time since its initial breakthrough in December. By midday EDT, Bitcoin was trading at approximately USD 101,400, slightly below its all-time high of nearly USD 109,000 recorded in January.
“As the leading crypto options platform, we’ve built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options – all under one trusted brand,” said Deribit Chief Executive Luuk Strijers.
After the acquisition, Deribit is expected to continue operating under its current brand and structure while benefiting from Coinbase’s infrastructure and regulatory framework. Coinbase also stated that it intends to incorporate Deribit’s technology into its broader suite of services.
