Coinbase Finalizes $2.9B Acquisition of Deribit

Reading Time: < 1 minute

Coinbase has officially completed its $2.9 billion cash-and-stock acquisition of Deribit, the leading crypto derivatives exchange.

The deal, first announced in May 2025, solidifies Coinbase’s position as the global leader in crypto derivatives by open interest and trading volume.

The transaction included $700 million in cash and 11 million shares of Coinbase Class A common stock. Deribit, founded in 2016 by brothers John and Marius Jansen, brings $59 billion in open interest and over $1 trillion in annual trading volume to Coinbase’s ecosystem.

In 2024, Deribit recorded $1.185 trillion in trading volume, a 95% increase from the previous year. The acquisition comes as crypto derivatives markets continue to outpace spot trading, with Bitcoin and Ethereum futures alone reaching $31 trillion offshore and $2.5 trillion on the CME in 2024.