Coinbase has officially completed its landmark $2.9 billion acquisition of Deribit, a crypto derivatives platform, cementing its position as the world’s leading player in this sector. The deal combines Coinbase’s U.S.-based dominance with Deribit’s offshore market expertise, generating an unmatched $59 billion in open interest and exceeding $1 trillion in annual trading volume on a single platform. The transaction included a mix of cash and shares valued at $700 million. 2023 saw record-breaking growth for Deribit, particularly within its Bitcoin and Ether derivatives market with a remarkable $185 billion in trading volume in July, nearly doubling year-over-year turnover to $1.185 trillion from $608 billion in the previous year.