TL;DR
- Coinbase is in advanced talks to acquire Deribit, the leading cryptocurrency derivatives platform, specializing in Bitcoin and Ethereum options.
- Deribit, based in the Netherlands, reached a trading volume close to $1.2 trillion in 2024, leading the cryptocurrency options market. The deal could represent one of the most significant acquisitions in the recent history of the crypto market.
- Although no final agreement has been reached yet, Coinbase has notified Dubai regulators about the transaction, as Deribit holds a license in that jurisdiction.
Coinbase is in advanced talks to acquire Deribit, one of the leading cryptocurrency derivatives platforms, specializing in Bitcoin and Ethereum options.
Coinbase demonstrates its ambition to solidify its position in the derivatives market, a sector where, so far, its presence has been more limited compared to its dominance in spot trading. If the acquisition goes through, it could represent one of the most relevant purchases in the recent history of the crypto market.
Deribit, based in the Netherlands, is the leading platform in terms of trading volume for cryptocurrency options. In 2024, the company reached a trading volume close to $1.2 trillion, highlighting its relevance within the ecosystem. In addition to options, Deribit also offers futures and spot trading.
Coinbase Has Already Notified Dubai Regulators
Although the talks are advanced, no final agreement has been reached between the two companies. Deribit could be valued between $4 billion and $5 billion, according to sources familiar with the negotiation. Coinbase has notified Dubai regulators about the transaction, as Deribit holds a license in that jurisdiction. If the deal goes through, the exchange would take control of that license.
Facing Kraken’s Competition
Coinbase has already shown interest in expanding its product offerings. The U.S.-based platform launched a site in Bermuda in 2023 to offer derivatives products outside the United States.
Coinbase is not the only one interested in the derivatives market. Its main competitor, Kraken, is also making strategic moves, such as acquiring the futures platform NinjaTrader for $1.5 billion
