NewsBTC

9 May 2025

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Coinbase Agrees to Acquire Deribit for $2.9 Billion

Coinbase has agreed to acquire Dubai-based crypto derivatives exchange Deribit for $2.9 billion, marking the largest deal in the crypto sector. The acquisition includes $700 million in cash and 11 million shares of Coinbase Class A stock.

Key Details of the Acquisition

• The deal is expected to close by year-end, positively impacting Coinbase’s stock, which rose over 5% following the announcement.
• Deribit had a trading volume exceeding $1 trillion last year and approximately $30 billion in current open interest.
• Coinbase aims to enhance its competitiveness against major players like Binance through this acquisition.
• Deribit CEO Luuk Strijers noted that the partnership will provide traders with various enhanced trading products under the Coinbase brand.
• Greg Tusar from Coinbase emphasized the strategic importance for international expansion and revenue diversification.

This acquisition occurs amidst a favorable regulatory environment for cryptocurrencies, contributing to increased mergers and acquisitions in the industry.