Coinbase Global, Inc. has completed its $2.9 billion acquisition of derivatives exchange Deribit, solidifying its position as a global leader in crypto options and futures trading. The deal, finalized on August 14, 2025, significantly expands Coinbase's derivatives capabilities and open interest, directly impacting trading dynamics for major assets like BTC and ETH. Deribit CEO Luuk Strijers stated: "We're excited to join forces with Coinbase to power a new era in global crypto derivatives... Together, we're set to shape the future of the market."
The acquisition integrates Deribit's $60 billion open interest platform with Coinbase's extensive user base, promising enhanced liquidity and institutional participation. Though immediate service integration isn't expected—requiring further development for perpetual contracts and options—the merger aims to offer a comprehensive suite including spot, futures, and derivatives. Historically, such consolidations boost trading volumes, particularly for BTC and ETH.
Financially, the deal has already influenced markets: Coinbase's stock surged 37% in May 2025 upon initial agreement and showed volatile gains post-announcement. The strategic move aligns with Coinbase's years-long push to dominate derivatives, with no current regulatory hurdles reported.