Coinbase Enters Crypto Derivatives with $2.9B Deal to Acquire Deribit

Coinbase Global has agreed to buy Deribit, a major cryptocurrency derivatives exchange. The deal is valued at approximately $2.9 billion. Coinbase announced the acquisition on May 8, as Cointelegraph reported.

Coinbase Announces Deribit Acquisition, Pending Approval

Greg Tusar, Vice President of Institutional Product at Coinbase, said the move is part of the exchange’s international growth plan. “With Deribit’s strong presence and professional client base, Coinbase is making its most substantial move yet to accelerate our international growth strategy,” he said.

The deal includes $700 million in cash and 11 million shares of Coinbase Class A common stock. The final amount is subject to standard purchase price adjustments. The acquisition is expected to close later this year, pending regulatory approval.

Deribit was founded in 2014 by John and Marius Jansen. The company confirmed that both founders will leave the firm after the deal is completed in 2025.

Deribit said its operations will continue as normal until the transaction closes. “Same platform, same team, same commitment to excellence,” it stated in a release.

🚨 BREAKING: Coinbase to acquire crypto options platform Deribit for $2.9B, expanding its offerings in the crypto derivatives market. pic.twitter.com/UOobsMoUt1

You may find it interesting at FinanceMagnates.com: Coinbase Gains FIU Approval for Indian Market Re-entry: SEC Drops Lawsuit.

Deribit License Transfer May Be Required

Luuk Strijers, CEO of Deribit, said the deal would provide more trading opportunities. “This acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options,” he said.

Coinbase plans to integrate Deribit’s technology with its existing services. The company said this will improve onboarding, fiat payments, and capital efficiency across trading functions.

Reports from March had suggested that Coinbase and Deribit informed regulators in Dubai about the possible acquisition. Deribit holds a license in Dubai, which may need to be transferred to Coinbase if the deal is approved. Earlier estimates placed Deribit’s valuation between $4 billion and $5 billion.