Coinbase Completes $2.9 Billion Acquisition of Deribit Options Exchange
Coinbase has completed the acquisition of Deribit for $2.9 billion in cash and stock. This deal enhances Coinbase's offerings by integrating the largest crypto options exchange, which processed approximately $1 trillion in options volume in 2024 and holds around $59 billion in open interest.
- The acquisition strengthens Coinbase's position in the derivatives market.
- CEO Brian Armstrong emphasized the aim to create an "everything exchange" with a full suite of regulated crypto products.
- Integration is expected to improve liquidity and attract institutional investments.
CalPERS, the largest US pension fund, increased its stake in Coinbase by purchasing an additional 98,827 shares in Q2 2025, totaling 332,791 shares—up 42% from the previous quarter. The fund manages about $570 billion and focuses on systematic investment strategies.
Despite the acquisition news, Coinbase’s stock price declined by 1.2%, trading at $323 with a market capitalization of $83 billion.
In light of the acquisition, interest in innovative trading platforms like Snorter has grown. The Snorter presale offers low fees, early access to new tokens, fast execution speeds, and protections against front-running.