EddieJayonCrypto
8 May 25
Coinbase has agreed to acquire crypto derivatives platform Deribit in a $2.9 billion deal involving cash and stock, marking Coinbase’s largest acquisition. Deribit, which processed about $1.2 trillion in volume in 2024, holds a license from Dubai’s Virtual Assets Regulatory Authority allowing it to ...
Coinbase has agreed to acquire the crypto derivatives platform Deribit in a landmark $2.9 billion deal involving cash and stock, marking the largest acquisition in Coinbase’s history.Deribit, which processed approximately $1.2 trillion in trading volume during 2024, is licensed by Dubai’s Virtual Assets Regulatory Authority (VARA) to offer derivatives trading to institutional and qualified investors. This license followed Deribit’s migration of operations from Panama to Dubai, granting it a strong legal standing for derivatives trading.The acquisition aims to enhance Coinbase’s presence in the rapidly growing crypto derivatives market and expand its global footprint, especially in offshore markets where competitors currently hold stronger positions. Coinbase has been steadily increasing its derivatives offerings, including through previous acquisitions like FairX and the launch of Coinbase International Exchange for perpetual futures.The deal is in the final stages pending regulatory approval to transfer Deribit’s VARA license to Coinbase, a process that adds complexity but is supported by a more favorable regulatory climate in the United States. Political developments in Washington have fostered optimism for clearer crypto regulations, encouraging exchanges to scale derivatives operations.Competitors such as Kraken are also expanding in this sector, highlighted by its acquisition of futures broker NinjaTrader earlier this year for $1.5 billion.Deribit CEO Luuk Strijers noted previously that the platform had not been formally for sale but attracted significant interest due to its market-leading position. With terms largely agreed upon, the transaction will provide Coinbase an established engine for derivatives liquidity and access to a licensed offshore exchange, positioning it strongly as global crypto derivatives trading continues to grow.