Coinbase Acquires Deribit for $2.9 Billion: Expanding Crypto Derivatives Ecosystem

Cryptocurrency exchange Coinbase has agreed to acquire Deribit, a leading derivatives exchange, in a deal valued at $2.9 billion. The acquisition will be financed with $700 million in cash and 11 million shares of Coinbase Class A common stock, subject to regulatory approval expected by year-end. Deribit’s extensive operations in the crypto options market, boasting over $30 billion in open interest (OI) and over $1 trillion in trading volume in 2024, will be integrated into Coinbase’s platform.