Report: Coinbase in advanced talks to acquire Deribit

According to Bloomberg, Coinbase is currently in advanced talks to purchase Deribit, a prominent crypto derivatives exchange that focuses on Bitcoin and Ether options.

Both companies have notified regulators in Dubai, where Deribit is licensed, about the ongoing discussions, though a final agreement has yet to be announced.

Deribit is a key player in the crypto options market, having been valued between $4 billion and $5 billion earlier this year. The platform recorded nearly $1.2 trillion in trading volume in 2024, nearly doubling its volume from the previous year.

This acquisition would enhance Coinbase’s position in the derivatives market, complementing its broader strategy for expansion, as the company is mainly recognized for its spot trading services.

Kraken and Deribit

This potential acquisition comes on the heels of prior reports indicating that Kraken had also considered making a bid for Deribit. Coinbase has increasingly focused on expanding its derivatives offerings, having recently launched derivatives trading for retail customers in the U.S. and secured a license for crypto futures.

As the derivatives market now represents a significant portion of crypto trading volumes, acquiring a platform like Deribit could provide Coinbase with a substantial competitive edge in this sector.

Even though negotiations are in an advanced phase, Bloomberg notes that it remains uncertain whether a deal will ultimately be finalized between the two companies.