Coinbase Completes $2.9B Deribit Deal

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 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.