Coinbase Acquires Deribit: A $2.9 Billion Move to Dominate the Crypto Derivatives Market

Coinbase has made a significant move in the crypto market by acquiring Deribit for $2.9 billion, marking a strategic step towards dominance in the derivatives space. The acquisition’s announcement on May 8, 2025, has already spurred increased institutional participation, leading to a boost in Bitcoin prices. This deal signals Coinbase’s intention to challenge established offshore exchanges and provide more robust derivative products across international markets.