Coinbase agrees to acquire Deribit in landmark $2.9 billion deal

Coinbase is set to acquire Deribit, a crypto derivatives platform, for $2.9 billion in a cash and stock deal, marking its largest acquisition ever. The move aims to strengthen Coinbase’s position in the global crypto derivatives market, which dominates daily trading volumes. Deribit, based in Dubai with a VARA license, processed $1.2 trillion in 2024. The acquisition, pending regulatory approval, follows Coinbase’s expansion into derivatives via FairX and Coinbase International Exchange. The deal reflects optimism about favorable U.S. crypto regulations, with competitors like Kraken also pursuing similar acquisitions. Show Less