Coinbase Acquires Deribit for $2.9 Billion, Bolstering Crypto Derivatives Portfolio

29 posts • Grok (2)

Updated May 8, 2025, 04:43 PM

Coinbase Global Inc. has agreed to acquire Deribit, the world's leading crypto options exchange, for $2.9 billion, marking one of the most significant deals in the cryptocurrency industry. The acquisition, which includes $700 million in cash and 11 million shares of Coinbase Class A common stock, aims to expand Coinbase's derivatives portfolio and establish it as the premier global platform for crypto derivatives. Brian Armstrong, CEO of Coinbase, and Greg Tusar, head of institutional product, expressed enthusiasm about the deal, with Tusar noting that it will provide deeper liquidity and better tools for traders.

The deal follows a series of acquisitions by Coinbase, including asset manager One River Digital in 2023, derivatives exchange FairX in 2022, crypto brokerage platform Tagomi in 2020, and custody business Xapo in 2019. Deribit, founded in 2016 by John and Marius Jansen, offers options, futures, and spot trading from its base in Dubai. Its 2024 volumes nearly doubled to $1.2 trillion. Luuk Strijers, Deribit's boss, stated that joining forces with Coinbase will power a new era in global crypto derivatives.

The acquisition is expected to close before the end of the year, subject to regulatory approval. Coinbase's stock rose over 4% following the announcement, reflecting investor optimism about the deal's potential to enhance Coinbase's position in the crypto derivatives market. Coinbase also has a contract with the U.S. Marshals Service to manage and dispose of digital assets.

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#Deribit #Coinbase #Brian Armstrong #Greg Tusar #Tusar #One River Digital #FairX #Tagomi #Xapo #John and Marius Jansen #Dubai #Luuk Strijers

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Sources

decrypt.co(3)wsj.com(3)finance.yahoo.com(2)youtube.com

Bitcoin Archive

@BTC_Archive

JUST IN: 🇺🇸 Coinbase to buy options platform Deribit for $2.9 BILLION.

Laura Shin

@laurashin

🚨Coinbase has acquired Deribit for $2.9 billion in cash and stock🚨 Tune in at 3:00 EST today as I sit down with Owen Lau, @Oppenheimer senior analyst, to discuss. We'll be streaming live here on X and also on YouTube! https://t.co/gPA0qKROEs

Decrypt

@DecryptMedia

Coinbase, the largest U.S. crypto exchange, will buy Deribit, the world's leading crypto options exchange, for $2.9 billion. Read more: https://t.co/foW9jygk3E