Coinbase has acquired crypto derivatives platform Deribit for $2.9 billion, becoming the world’s largest crypto derivatives exchange. The deal combines Coinbase’s U.S. reach with Deribit’s offshore dominance, bringing $59B in open interest and $1T+ in annual trading volume onto one platform.
„This acquisition comes on the heels of a record month of volume and revenue for Deribit – with July ‘25 volumes exceeding $185B and approximately $60B [1] of current platform open interest – as international momentum around crypto options heats up.” -according to a company’s blog.
„We’re thrilled to welcome the world’s leading crypto options exchange to Coinbase. This milestone marks a major step forward in our mission to build the most comprehensive, trusted platform for global crypto derivatives trading.” – said Greg Tusar, Head of Institutional Product at Coinbase.
He continued: „Deribit is the #1 crypto options exchange by volume and open interest, with roughly $60 billion of current platform open interest, over $1 trillion traded last year, and a loyal base of institutional and advanced traders. Their platform is fast, capital-efficient, and battle-tested – the perfect complement to Coinbase’s growing futures and perpetuals business.
This acquisition brings us closer to offering the full spectrum of trading products – spot, futures, perpetuals, and options – all in one seamless platform. In addition to product breadth, it enables us to scale globally with broader participation and deeper liquidity. And it comes at the perfect time. In July, Deribit saw over $185 billion in trading volume, Deribit’s best month ever, amid a surge in institutional flows. As the crypto options market is heating up, we’re positioned to lead the next wave of innovation.
Together, we’re building the future of crypto derivatives markets: faster, more sophisticated, and more accessible than ever before.„
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[1] All figures based on publicly available market data (e.g. The Block: https://www.theblock.co/data/crypto-markets/options | Laevitas: https://app.laevitas.ch/exchanges/list) as of August 13, 2025
Banking 4.0 – „how was the experience for you”
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