Coinbase to acquire Deribit for $2.9B

Coinbase Global is set to acquire Deribit—recognized as the largest bitcoin and ether options platform—for nearly $2.9 billion in a mixed cash and equity deal.

If Coinbase completes the acquisition, it will mark one of the most significant moves in cryptocurrency history, notably enhancing its derivatives portfolio.

The timing of the acquisition aligns with recent regulatory developments in the U.S. that began emerging at the start of the year.

Through this deal, Coinbase will gain ownership of the world’s largest Bitcoin and Ethereum options trading platform.

In addition to strengthening Coinbase’s dominance in the industry, the acquisition will further solidify the U.S. as a major digital asset hub.

Since early 2025, the U.S. has taken a considerably new direction in its stance toward crypto.

With a crypto-positive administration now in power, the nation has overhauled its approach to crypto policy.

In just three months, the United States, under President Trump, has committed to making the country a leading “Bitcoin superpower,” a promise he made during his campaign that he was going to make the United States the crypto capital of the world.

When a nation adopts more favorable regulations in a particular industry, companies often pursue acquisition deals. They focus on getting ahead, fully aware that the benefits will follow a predictable trajectory.

The U.S. already made this shift in 2025, and once again on Thursday, Coinbase advanced with its acquisition of Deribit.

This deal represents Coinbase’s most significant effort to enter the highly lucrative crypto derivatives sector.

Due to the high volatility of the asset class, traders find options attractive since they let them buy or sell at a fixed price before a specific time without forcing them to complete the trade.

With this approach, investors can strategically hedge their risks across multiple investment opportunities.

In March, Coinbase competitor Kraken acquired the retail futures trading platform NinjaTrader for US $1.5 billion, marking its first step into offering crypto futures and derivatives in the U.S.

At the same time, Ripple announced in April that it would acquire the prime-brokerage Hidden Road for US $1.25 billion.