The acquisition makes Coinbase the largest crypto-derivatives platform and also demonstrates crypto firms' desire to expand their institutional investor base.
Reports UNN with reference to Reuters.
Details
Coinbase, the largest public cryptocurrency exchange, announced yesterday the acquisition of the derivatives exchange Deribit in a $2.9 billion deal to expand into the crypto-options markets.
According to analysts, the deal marks the beginning of a new cycle of consolidation in the cryptocurrency trading industry.
In addition, this move underscores the desire of cryptocurrency companies to expand their base of institutional investors, as well as serve retail traders.
Deribit controls 85% of the global cryptocurrency options market and reported trading volume of $1.2 trillion last year. The deal involves $700 million in cash and 11 million shares of Coinbase Class A common stock, the company said in a blog post.
Following the acquisition agreement regarding Deribit, Coinbase will become the world's largest crypto-derivatives platform by number of open positions and options activity.
Coinbase will provide more details in its first-quarter earnings report on Thursday. Regulatory approval of the deal is still expected.
Addition
Coinbase shares, which lost nearly 21% of their value in 2025, rose 5.7%. The company already allows its clients from the US and other countries to trade cryptocurrency futures contracts.
Let us remind you
Bitcoin continues to grow, approaching the $100,000 mark, amid hopes for a de-escalation of the US customs program. Analysts believe that this level will become a significant obstacle.