Coinbase is reportedly in advanced negotiations to acquire Deribit, a prominent crypto derivatives exchange focused on Bitcoin and Ether options.
The companies have notified regulators in Dubai, where Deribit is licensed, about the ongoing discussions, but no final agreement has been reached yet.
Deribit holds a leading position in the crypto options market, previously valued between $4 billion and $5 billion. In 2024, the platform recorded nearly $1.2 trillion in trading volume, almost doubling its trading activity from the previous year.
This acquisition would significantly enhance Coinbase’s presence in the derivatives market, supporting its broader strategy for expansion in the cryptocurrency space.
Competitive Landscape
The potential acquisition comes on the heels of reports that other exchanges, including Kraken, have shown interest in acquiring Deribit. Coinbase is increasingly focused on expanding its derivatives offerings, already launching derivatives trading for U.S. retail users and securing a license to provide crypto futures.
As the derivatives market captures a substantial share of overall crypto trading volumes, acquiring a platform like Deribit could deliver a significant competitive advantage for Coinbase.
While negotiations are at an advanced stage, it remains uncertain whether the two firms will finalize a deal.
