Coinbase to buy Deribit for $2.9 billion in landmark crypto deal

Updated Thu, May 8, 2025, 7:56 AM 2 min read

Coinbase Global (COIN) has reached an statement to get crypto options level Deribit for $2.9 billion, 1 of the astir important deals ever for the cryptocurrency industry.

The woody marks different milestone for Coinbase, the largest cryptocurrency speech successful the US, aft missing retired for years connected the wider transaction volumes and margins that different exchanges captured from derivatives trading.

Coinbase’s banal roseate implicit 4% connected the announcement. The Wall Street Journal archetypal reported the deal.

"This isn’t conscionable much products — it’s deeper liquidity, tighter spreads, and amended tools for organization and retail traders alike,” Greg Tusar, Coinbase’s caput of organization product, said successful a emailed statement.

Deribit "isn't conscionable different addition,” helium added successful a blog post.

The acquisition follows Coinbase’s acquisition of plus manager One River Digital successful 2023, derivatives speech FairX successful 2022, crypto brokerage level Tagomi successful 2020 and custody concern Xapo successful 2019.

Coinbase is paying for Deribit with a premix of its ain communal banal and $700 cardinal successful cash.

The woody is the latest illustration of however the crypto manufacture has emerged arsenic 1 the fewer agleam spots for merger enactment this twelvemonth adjacent arsenic different industries clasp backmost amid the economical uncertainties triggered by President Trump's commercialized wars and tariffs.

The biggest operator of that crypto optimism is Trump's continued clasp of integer assets. He is pushing for much favorable regularisation of the industry, and Coinbase is expected to beryllium 1 of the biggest beneficiaries.

Some different large crypto deals truthful acold this twelvemonth see Coinbase's US rival Kraken announcing an statement to acquisition crypto futures trading level Ninja Trader for $1.5 cardinal successful March and Ripple Labs agreeing past period to bargain crypto broker and financing steadfast Hidden Road for $1.25 billion.

Coinbase reports archetypal 4th net Thursday afternoon. Its profits are expected to diminution portion nett gross is expected to leap compared to a twelvemonth ago. It recognized a $737 accounting summation connected its crypto plus holdings successful the archetypal 3 months of past year.

David Hollerith is simply a elder newsman for Yahoo Finance covering banking, crypto, and different areas successful finance.

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