The deal reinforces Coinbase's leadership in global open interest and options trading, marking a significant consolidation in the crypto derivatives market.
Coinbase has completed a $2.9 billion cash and stock acquisition of crypto derivatives exchange Deribit, positioning it as the leader in global open interest and options trading. Deribit reported a 95% year-over-year increase in 2024 trading volume, reaching $1.185 trillion, and its founders have exited the company.