tl;dr
Coinbase is reportedly in advanced talks to acquire crypto derivatives platform Deribit, with discussions at an advanced stage. If successful, Deribit's license in Dubai would transfer to Coinbase. Deribit is currently the world's largest options exchange for Bitcoin and Ethereum, while Coinbase is ...
Coinbase is reportedly in advanced talks to acquire crypto derivatives platform Deribit, with discussions at an advanced stage. If successful, Deribit's license in Dubai would transfer to Coinbase. Deribit is currently the world's largest options exchange for Bitcoin and Ethereum, while Coinbase is the top US-based crypto trading platform by volume. The move reflects a strategic expansion into the derivatives market, aligning with the significant growth in crypto derivatives trading. Regulatory changes in the US are expected to boost mergers and acquisitions in the crypto industry, with the SEC terminating investigations and lawsuits against crypto firms, among other developments.
Coinbase is in advanced negotiations to acquire the crypto derivatives platform Deribit, Bloomberg News reported on March 21. The parties have reportedly notified Dubai regulators about the ongoing discussions since Deribit holds a license in the jurisdiction that would transfer to any acquiring entity. Sources told the newswire that the talks are at an advanced stage, but it’s unclear if the discussions will result in a finalized agreement. Coinbase and Deribit declined to comment on the matter. Deribit is currently the world’s largest options exchange for Bitcoin (BTC) and Ethereum (ETH), while Coinbase remains the top US-based crypto trading platform by volume. A previous Bloomberg report noted that Deribit was valued at between $4 billion and $5 billion In January, while Coinbase’s enterprise value surpassed $43 billion, according to Yahoo Finance data. Notably, the reported talks follow Kraken’s acquisition of NinjaTrader for $1.5 billion.
The derivatives market is an important avenue in crypto, as traders use it to hedge risk and leverage their exposure to assets. Deribit is a key player in this market, processing nearly $1.2 trillion in trading volume last year across options, futures, and spot markets. The deal would position Coinbase properly in the crypto derivatives space. The changing regulatory crypto landscape in the US, which has drastically shifted since President Donald Trump returned to the White House for a second term, is boosting this movement. Notable differences are the US Securities and Exchange Commission (SEC) terminating 12 investigations and lawsuits against crypto firms as of March 21, the removal of Tornado Cash from the US sanctions list, efforts to stop debanking of crypto companies, and clarity about proof-of-work mining activities being exempt from securities law.