Coinbase Completes Deribit Acquisition to Expand Crypto Derivatives Ecosystem

Coinbase Global Inc. has finalized the acquisition of Deribit FZE, the leading cryptocurrency options exchange, marking a pivotal expansion into international derivatives markets [1]. The move positions Coinbase as a one-stop trading platform, offering spot, futures, perpetuals, and now options under a single ecosystem [1]. In a public post on August 14, 2025, CEO Brian Armstrong expressed enthusiasm over the deal, highlighting the addition of Deribit’s team and their role in building a more comprehensive trading experience [1].

Deribit has long held a dominant position in crypto options trading, known for its speed, efficiency, and institutional-grade services [1]. The platform reached a peak in July 2025, with over $185 billion in trading volume and approximately $60 billion in open interest [1]. Over the past year, it has processed more than $1 trillion in transactions, underscoring its robust market presence [1].

The acquisition aligns with a surge in institutional interest in crypto derivatives. By integrating Deribit’s infrastructure, Coinbase aims to enhance liquidity and expand market participation [1]. Analysts view the deal as strategically timed, allowing Coinbase to strengthen its foothold in a rapidly evolving space [1].

From a financial standpoint, the transaction is expected to be accretive to Coinbase’s day one adjusted EBITDA [1]. Deribit reported over $30 million in transaction revenue in July 2025 alone. While Coinbase anticipates approximately $10 million in additional costs in Q3 related to technology and administrative integration, these are separate from acquisition-related amortization [1].

By combining Deribit’s advanced trading capabilities with Coinbase’s global user base, the firm is well-positioned to offer a more sophisticated and accessible platform for both institutional and advanced retail traders [1]. The integration is expected to drive innovation and efficiency in crypto derivatives trading, reinforcing Coinbase’s leadership in the sector [1].

The acquisition marks a key milestone as the crypto derivatives market continues to expand. By merging two influential industry players, Coinbase and Deribit are collectively shaping the future of digital asset trading [1].

Source: [1] Coinbase Global Completes Acquisition of Deribit FZE (https://coinmarketcap.com/community/articles/689e347da4b0812391e0250f/)