Hassan Maishera
TL;DR
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Crypto exchange Coinbase has agreed to acquire Deribit in a deal worth $2.9 billion.
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The deal will see Coinbase part ways with $700 million in cash and 11 million shares of Coinbase Class A common stock.
Coinbase to Acquire Deribit to Expand in U.S. Crypto Options Market
Coinbase, one of the leading cryptocurrency exchanges in the world, has agreed to acquire Deribit for $2.9 billion. This is according to a Coinbase press release on Thursday, as the crypto exchange intensifies efforts to enter the crypto derivatives market in the U.S.
According to Coinbase, Deribit is the world's leading crypto options exchange with approximately $30 billion of current open interest. The acquisition significantly advances Coinbase’s derivatives business, establishing it as the premier global platform for crypto derivatives.
This latest development comes a month after Cryptowisser reported that Coinbase was in talks to acquire Deribit. Coinbase previously competed with Kraken for Deribit before Kraken purchased U.S. futures platform Ninja Trader for $1.5 billion.
While commenting on the acquisition, Deribit CEO Luuk Strijers said,
“We’re excited to join forces with Coinbase to power a new era in global crypto derivatives. 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. Together with Coinbase, we’re set to shape the future of the global crypto derivatives market."
Coinbase’s deal with Deribit includes $700 million in cash and 11 million shares of Coinbase Class A common stock. This makes it one of the largest deals in the industry. Deribit has been around since 2016 and processed $1.2 trillion in volume in 2024, a 95% year-over-year increase.
Coinbase, a publicly listed company, is one of the leading crypto exchanges in the world and processes over $4.5 billion daily.
