Coinbase Acquires Deribit in $2.9 Billion Deal, Marking the Largest M&A in Crypto History

Bitcoin and crypto exchange Coinbase has agreed to acquire derivatives trading platform Deribit for $2.9 billion, marking the largest acquisition in the industry's history.

Crypto exchange Coinbase has agreed to acquire derivatives trading platform Deribit for $2.9 billion, the largest acquisition in the industry's history.

The acquisition will see Coinbase acquire Panama-based Deribit, which currently handles the massive volume of global Bitcoin and crypto options trading. It is subject to regulatory approvals and expected to close in the second half of 2025.

Coinbase will pay $700 million in cash and 11 million shares of Coinbase's Class A common stock, the company said in a blog post.

JUST IN: 🇺🇸 Coinbase to buy #Bitcoin and crypto options platform Deribit in $2.9 billion deal. pic.twitter.com/YjCEKvgzfh

Deribit CEO Luuk Strijers said: "We're excited to join forces with Coinbase to power a new era in global crypto derivatives.

"As the leading crypto options platform, we've built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options - all under one trusted brand."

The acquisition comes as institutional investors increasingly seek exposure to crypto derivatives. Deribit reported its total trading volumes in 2024 almost doubled to $1.2 trillion.

The deal is expected to help Coinbase compete more effectively with offshore exchanges like Binance and OKX, which currently dominate crypto derivatives trading. Deribit's regulatory licenses in multiple jurisdictions will also support Coinbase's international expansion plans.

Following the acquisition, Deribit will maintain its current operations and brand while leveraging Coinbase's technology infrastructure and regulatory framework.

At press time, Bitcoin trades at $99,488, up 2.62% over the past 24 hours, as the market reacts positively to increased institutional participation in crypto derivatives trading.