# Coinbase Completes $2.9B Deribit Deal

*Author: Jack Inabinet*
*Published: Aug 14, 2025*
*Source: https://www.bankless.com/read/coinbase-completes-2-9b-deribit-deal*

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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](https://investor.coinbase.com/news/news-details/2025/Deribit-Joins-Coinbase-Unlocking-the-Future-of-Global-Crypto-Derivatives/default.aspx) 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.We closed the deal with [@DeribitOfficial](https://twitter.com/DeribitOfficial?ref_src=twsrc%5Etfw). Now we’re building the most powerful global crypto platform, together. [pic.twitter.com/a7fCmx3E6T](https://t.co/a7fCmx3E6T)— Coinbase 🛡️ (@coinbase) [August 14, 2025](https://twitter.com/coinbase/status/1955980234534105133?ref_src=twsrc%5Etfw)