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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
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