Coinbase Acquires Deribit in $2.9B Deal to Dominate Crypto Derivatives Market

Coinbase has officially acquired Deribit for $2.9 billion, cementing its position as the most comprehensive crypto derivatives exchange globally.

What Happened?

Coinbase finalized its acquisition of Deribit on August 14, 2025, paying $700 million in cash and issuing 11 million shares to close the $2.9 billion deal. The move comes at a time of booming derivatives market activity, particularly for options trading, with Deribit reporting record volumes and open interest in recent months.

The acquisition, originally announced in May 2025, marks Coinbase’s sixth deal of the year and positions it to become the most complete global platform for crypto trading products.

The biggest logo x logo partnership in crypto just became official.

We closed the deal with @DeribitOfficial. Now we’re building the most powerful global crypto platform, together. pic.twitter.com/a7fCmx3E6T

,Coinbase 🛡️ (@coinbase) August 14, 2025

Coinbase Bolsters Derivatives Lineup with Deribit

With Deribit under its wing, Coinbase now offers all major crypto trading products in one platform: spot, futures, perpetuals, and options. Deribit is considered the largest crypto options exchange by volume and open interest, reporting over $185 billion in trading volume and $60 billion in open positions during July 2025.

In 2024 alone, Deribit processed over $1 trillion in trades. Coinbase highlighted Deribit’s “fast, capital-efficient, and battle-tested” systems as a perfect fit for its broader derivatives vision.

Key Financial Impact:

• Deribit generated over $30 million in revenue from transaction fees in July alone.
• Coinbase said Deribit will be immediately accretive to adjusted EBITDA, starting from August 14 through the third quarter.
• The acquisition will add approximately $10 million in additional quarterly operating expenses, including technology, development, and admin, but excluding amortization linked to the acquisition itself.

Global Expansion and Vision

Coinbase is also tying the Deribit deal into its broader ambition to become the “Everything Exchange”, which includes:

• Launching decentralized exchange (DEX) trading for U.S. customers on the Base network.
• Plans to expand tokenized stocks and prediction markets in the U.S.
• Upcoming support for Solana tokens, which are popular for new project launches.

CEO Brian Armstrong and VP of Institutional Products Greg Tusar both emphasized that Deribit’s expertise will help Coinbase deliver faster and more advanced trading platforms globally. The company believes the acquisition will drive deeper liquidity, broader participation, and a stronger global footprint.

We’ve closed the deal – excited to welcome @LStrijers and the whole Deribit team to Coinbase.

Their talent will be a key part of us building the everything exchange, and being able to offer industry-leading derivatives products around the world. pic.twitter.com/apX5tw95UI

,Brian Armstrong (@brian_armstrong) August 14, 2025

Competitive and Regulatory Landscape

This acquisition also puts Coinbase in a stronger position within the UK crypto market, which has seen rising activity despite regulatory delays. Major platforms like Binance UK, Kraken, and eToro are already established, but Coinbase’s expanded product suite now offers a significant competitive edge.

Bitpanda, a European rival, recently entered the UK and partnered with Arsenal FC to build its presence. However, the UK’s full crypto licensing regime may not be finalized until late 2026. Meanwhile, jurisdictions like the EU, UAE, Hong Kong, and the U.S. have already rolled out comprehensive crypto regulations, offering clearer pathways for expansion.

CoinLaw’s Takeaway

Honestly, I think this is a power move by Coinbase. Snapping up Deribit not only boosts its lineup with the most popular options exchange but also helps it claim dominance in the derivatives space. And with over $1 trillion in annual trades, Deribit wasn’t just a trophy buy. It was a strategic win that strengthens Coinbase’s edge in both institutional and retail crypto finance. If they can pull off smooth integration and expand globally with deeper liquidity, this could be one of Coinbase’s most impactful acquisitions yet.