Coinbase has agreed to acquire crypto derivatives platform Deribit in a deal valued at approximately $2.9 billion.
The agreement, which includes a mix of cash and Coinbase stock, would mark the largest acquisition in the company’s history.
“We’re excited to join forces with Coinbase to power a new era in global crypto derivatives.
This acquisition will accelerate the foundation we’ve built – bringing spot, futures, perps, and options under one trusted brand.”
Coinbase has steadily expanded into derivatives over the past three years. After acquiring FairX to offer CFTC-regulated futures products in the United States, it launched Coinbase International Exchange to enable perpetual futures trading outside its domestic market. Buying Deribit would fast-track efforts to scale its global derivatives footprint, which still lags offshore rivals.
Deribit CEO Luuk Strijers said in January the exchange had not been formally put up for sale, but noted interest from multiple parties due to its market-leading status. As of May, sources indicate terms have largely been agreed upon, though final regulatory steps remain before the deal can close.
Pending regularity approval, the Deribit acquisition would provide Coinbase with an established engine for derivatives liquidity and access to a licensed offshore exchange catering to professional investors.
