Coinbase Acquires Deribit for $2.9 Billion, Expanding its Crypto Derivatives Offering

Coinbase has acquired Deribit, a leading crypto derivatives exchange, in a historic deal worth $2.9 billion. This strategic move positions Coinbase as the market leader in global crypto options and futures trading. Deribit boasted over $1 trillion in trading volume last year and $30 billion in open interest, making it a key player in the cryptocurrency space. The acquisition will bring together two industry leaders to create a unified platform with a wider range of financial instruments for traders.