Coinbase Completes $2.9B Deribit Deal
The biggest crypto acquisition ever is now official.
Coinbase officially closed its cash-and-stock acquisition of Deribit for $2.9B. The purchase ranks as the largest-ever crypto deal and signals Coinbase's major push into global derivatives markets.
What’s the Scoop?
- Acquisition Finalized: Coinbase completed its purchase of Deribit, using $700M in cash and 11 million shares of its stock. Although originally valued at $2.9B, pumping COIN prices resulted in a net deal size of $4.2B at current market prices.
- Derivatives Volume Leader: Deribit has handled over $1T in trading volume and manages nearly $60B in open interest, making it the dominant player in crypto options.
- Full-Service Platform Incoming: The acquisition positions Coinbase to offer a unified derivatives suite—including spot, futures, perpetuals, and options—all under one roof.
Bankless Take:
Coinbase's completed acquisition of Deribit establishes it as a crypto options powerhouse. The deal is monumental is size and stands to open the options floodgates for Coinbase's U.S. retail audiences.
The biggest logo x logo partnership in crypto just became official.
— Coinbase 🛡️ (@coinbase) August 14, 2025
We closed the deal with @DeribitOfficial. Now we’re building the most powerful global crypto platform, together. pic.twitter.com/a7fCmx3E6T
Jack Inabinet
Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
