Coinbase Finalizes Deribit Acquisition to Lead Global Crypto Derivatives Market

Coinbase just became the undisputed titan of crypto derivatives, sealing a high-stakes acquisition that unifies spot, futures, and options under one explosive trading empire.

Deribit Acquisition Launches Coinbase Into Crypto Derivatives Stratosphere

Crypto exchange Coinbase (Nasdaq: COIN) announced on Aug. 14, 2025, that it has finalized the acquisition of Deribit, a leading crypto options exchange by trading volume and open interest. In a company blog post, Coinbase stated:

The deal, which was announced in May, advances Coinbase’s strategy to integrate spot, futures, perpetuals, and options trading under a single platform, aiming to strengthen its appeal to both institutional and advanced retail traders.

The announcement comes after an exceptionally strong month for Deribit, which Coinbase highlighted: “This acquisition comes on the heels of a record month of volume and revenue for Deribit – with July ‘25 volumes exceeding $185B and approximately $60B of current platform open interest – as international momentum around crypto options heats up.”

In 2024, Deribit processed over $1 trillion in options trades, cementing its position as the market leader. Its trading technology is known for speed and capital efficiency, attributes Coinbase intends to leverage to expand liquidity and product breadth in global derivatives markets.

Financially, the acquisition is projected to be immediately accretive to Coinbase’s adjusted EBITDA. Deribit generated over $30 million in transaction revenue in July, with $10 million in additional quarterly expenses expected in Q3 2025 following the close. Deal-related amortization will rise, though the company has not yet quantified the impact. While increased costs may raise near-term concerns, Coinbase positions the move as a long-term growth catalyst, seeking to capture surging institutional demand in the crypto derivatives sector.