Coinbase to acquire Deribit in $2.9B deal, reshaping crypto derivatives market

In a landmark move that reshapes the global cryptocurrency landscape, Coinbase has announced a deal to acquire Deribit, the world’s top platform for Bitcoin and Ethereum options trading, for approximately $2.9 billion. Coinbase 🛡️ @coinbase · Follow We are acquiring @DeribitOfficial to build the most powerful global crypto platform—bringing spot, futures, and options together under one roof. Watch on Twitter View replies 4:05 PM · May 8, 2025 987 Reply Copy link Read 103 replies The acquisition, revealed on May 8, 2025, positions Coinbase as the definitive global leader in crypto derivatives, further deepening its reach into institutional trading markets and expanding its presence well beyond the United States. This marks the most significant expansion yet in Coinbase’s ongoing effort to unify spot, futures, and options trading under a single, capital-efficient, and globally accessible platform. Coinbase to tap into Deribit’s options trading dominance Deribit’s integration into Coinbase is poised to create the most comprehensive institutional-grade derivatives platform in the crypto market, solidifying Coinbase’s leadership at a time when institutional adoption is accelerating. Deribit, long recognised as the global leader in crypto options, boasts a staggering $1.2 trillion in annual trading volume and approximately $30 billion in open interest, primarily driven by Bitcoin and Ethereum options. This acquisition enables Coinbase to tap directly into this robust demand and leverage Deribit’s dominance in options trading to strengthen its own global derivatives portfolio. Coinbase, already a significant force in the spot and futures markets through its regulated US and international platforms, now gains an unparalleled foothold in the burgeoning crypto options space, which many analysts believe is entering a phase of rapid growth akin to the traditional equity options boom of the 1990s. The move also enhances Coinbase’s strategic international expansion, especially into markets outside the United States, as Deribit brings with it a well-established global footprint and a professional client base spanning multiple regions. This international presence includes a key regulatory license in Dubai, which will be transferred to Coinbase pending approval, and reflects the growing importance of Dubai and other global hubs in the evolving regulatory architecture of digital assets. Diversifying revenue stream away from spot trading By acquiring Deribit, Coinbase is not only increasing its product capabilities but also building a more resilient and diversified revenue model that is less dependent on the cyclical nature of spot trading volumes. Options trading tends to be more stable across market cycles, as traders often rely on these instruments to hedge risk or express complex strategies during both bull and bear phases of the market. Deribit’s consistent profitability and strong adjusted EBITDA performance are expected to enhance Coinbase’s financial stability and improve its bottom line immediately after the transaction closes. The deal, consisting of $700 million in cash and 11 million shares of Coinbase Class A stock, is expected to close by the end of 2025, subject to regulatory approvals and customary closing conditions. Coinbase executives, including Vice President of Institutional Product Greg Tusar, have emphasised that this acquisition is foundational to the company’s long-term vision of creating the most trusted and accessible crypto trading platform in the world. The combined capabilities of Coinbase’s spot, futures, and perpetuals offerings with Deribit’s options dominance will offer a one-stop shop experience for institutional and advanced retail traders seeking efficiency, risk management tools, and access to global liquidity. With this acquisition, Coinbase cements its position as the number one global platform for crypto derivatives by both open interest and options volume, sending a strong message to competitors and regulators alike that it is prepared to lead the next era of digital asset trading infrastructure. As the crypto industry evolves, Coinbase’s strategic bet on derivatives could redefine how market participants engage with digital assets, setting the stage for a more sophisticated, global, and integrated trading environment. The post Coinbase to acquire Deribit in $2.9B deal, reshaping crypto derivatives market appeared first on Invezz

Source: Invezz