DailySun
As reported by Bloomberg, Coinbase is in advanced discussions to acquire Deribit, a well-known crypto derivatives exchange specializing in Bitcoin and Ether options.
Both firms have informed regulators in Dubai, where Deribit operates under a license, about the ongoing negotiations, though a conclusive agreement has not yet been made public.
Deribit plays a critical role in the crypto options landscape, having been valued between $4 billion and $5 billion earlier this year. The platform achieved nearly $1.2 trillion in trading volume in 2024, nearly doubling its figures from the previous year.
This acquisition could solidify Coinbase’s footprint in the derivatives market, aligning with its overarching strategy for growth, as the company is primarily recognized for its spot trading offerings.
Kraken and Deribit
This possible acquisition follows earlier reports suggesting that Kraken had also expressed interest in making an offer for Deribit. Coinbase has been increasingly working to enhance its derivatives services, having recently introduced derivatives trading for retail users in the U.S. and obtained a license for crypto futures.
Given that the derivatives market now accounts for a significant share of crypto trading volumes, acquiring a platform like Deribit could provide Coinbase with a notable advantage in this field.
While talks are reportedly in an advanced stage, Bloomberg highlights that it remains unclear if a deal will ultimately be reached between the two entities.
