![](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjQtMTEvMDE5Mzc2MTYtNTdjYi03MjMyLWFkNTEtZGQ2MWQ1NWNmYzcy.jpg\")
<\/p>\n\n<\/p>\n\n
<\/p>\n
Coinbase, the largest cryptocurrency exchange in the US by trading volume, has agreed to acquire Deribit, one of the world\u2019s biggest crypto derivatives trading platforms.<\/p>\n
Coinbase Global will acquire Deribit for about $2.9 billion, the exchange announced<\/a> on May 8.<\/p>\n The acquisition will allow Coinbase to expand into the profitable crypto derivatives market and continue scaling the platform\u2019s global growth, Greg Tusar, Coinbase\u2019s vice president of institutional product, said in the announcement.<\/p>\n \u201cWith Deribit\u2019s strong presence and professional client base, Coinbase is making its most substantial move yet to accelerate our international growth strategy,\u201d he said.<\/p>\n Following the deal\u2019s success, expected later in 2025, Deribit founders John and Marius Jansen will step away from the firm. Their exit would mark the end of the joint venture that began in 2014, Deribit said<\/a> in a statement on Thursday.<\/p>\n Until the deal is closed later this year, pending regulatory approvals, Deribit will continue its business as usual. \u201cSame platform, same team, same commitment to excellence,\u201d the announcement noted.<\/p>\n \u201cWe\u2019re excited to join forces with Coinbase to power a new era in global crypto derivatives,\u201d Deribit CEO Luuk Strijers said, adding:<\/p>\n \u201cAs the leading crypto options platform, we\u2019ve built a strong, profitable business, and this acquisition will accelerate the foundation we laid while providing traders with even more opportunities across spot, futures, perpetuals, and options \u2014 all under one trusted brand.\u201d<\/p><\/blockquote>\n The announcement also mentioned that integrating Deribit\u2019s technology with Coinbase\u2019s products will enable \u201cmore efficient onboarding, enhanced fiat rails, and capital efficiency across the entire trading lifecycle.\u201d<\/p>\n The $2.9 billion deal includes $700 million in cash and 11 million shares of Coinbase Class A common stock, subject to customary purchase price adjustments.<\/p>\n \u201cThis transaction is subject to regulatory approvals and other customary closing conditions and is expected to close by year-end,\u201d the announcement said.<\/p>\n Previous reports in March suggested that Coinbase and Deribit had alerted regulators in Dubai<\/a> about the potential deal, as Deribit holds a license in Dubai, which would need to be transferred to Coinbase if the deal is successful.<\/p>\n Related: <\/strong><\/em>Ripple $4B\u2013$5B bid to purchase Circle rejected \u2014 Report<\/strong><\/em><\/a><\/p>\n The reports also previously suggested that a deal with Coinbase could value Deribit at between $4 billion and $5 billion.<\/p>\n Coinbase\u2019s Deribit acquisition marks a growing trend of large acquisitions in the cryptocurrency market. On May 1, rival exchange Kraken officially announced<\/a> it was finalizing the acquisition of the derivatives trading platform NinjaTrader to offer futures trading.<\/p>\n Kraken previously said it entered into an agreement to acquire NinjaTrader for $1.5 billion<\/a>, subject to certain purchase price adjustments.<\/p>\nDeribit founders to step away<\/h2>\n
Deal follows reports of Dubai regulatory steps<\/h2>\n