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Coinbase Deribit acquisition is turning heads across the entire crypto industry. The $2.9 billion deal will reshape the future.
Coinbase confirmed that it has signed an agreement to acquire Deribit, one of the largest crypto derivatives platforms. The acquisition involves a $700 million cash payment, with the rest settled in Coinbase Class A stock. This strategic move is meant to supercharge Coinbase’s dominance in the crypto derivatives market, particularly in options and futures trading.
Founded in 2016, Deribit boasts over $30 billion in open interest and more than $1 trillion in annual trading volume. This makes it a powerhouse in the space—one Coinbase has long wanted access to. The deal follows months of negotiation, starting in March, after Kraken passed on a more expensive offer earlier in the year.
Coinbase aims to be the king of crypto derivatives
Coinbase Deribit acquisition catapults Coinbase to the top of the global crypto derivatives market by open interest and trading volume. Until now, Coinbase had a modest footprint in derivatives, having only recently introduced CFTC-approved XRP futures. With Deribit’s infrastructure and user base, Coinbase can offer a much broader suite of products.
Analysts believe the deal reflects Coinbase’s bold strategy to tap deeper into institutional-grade crypto services. The platform will now be in a stronger position to challenge Binance and OKX in derivatives, an area that has seen exponential growth in 2024. With over 36% growth in Coinbase’s stock price since April, momentum is clearly in the company’s favor.
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Deribit gives Coinbase a high-volume global user base
Coinbase Deribit acquisition isn’t just a business deal—it’s a strategic land grab. Deribit’s exit from Russia due to EU sanctions may have contributed to the lower valuation. However, the acquisition still gives Coinbase direct access to Deribit’s loyal global user base, which includes institutional and high-volume traders.
The transaction is expected to close by year-end. Though the Class A stock component might cause some delays, both companies seem eager to finalize the process. With 11 million shares going to Deribit stakeholders, Coinbase is banking on stock performance to make up for the reduced cash flow.
Coinbase Deribit acquisition signals a long-term shift in trading focus
Coinbase Deribit acquisition reflects a broader industry shift. While spot trading has stagnated, derivatives are booming. Coinbase is betting on this trend to boost revenue and expand its offerings for pro-level traders and institutions.
Crypto games, NFT platforms, and DeFi projects often use derivatives for hedging and strategic trading. With Deribit’s tools and experience, Coinbase could even tailor products for the crypto gaming sector, further expanding its reach.
If successful, this deal could position Coinbase as the go-to platform for the next wave of digital asset innovation.
