Coinbase is reportedly in advanced discussions to acquire Deribit, a leading crypto derivatives exchange specializing in Bitcoin and Ether options, according to Bloomberg.
The companies have informed regulators in Dubai— where Deribit is licensed — about the ongoing negotiations, though no final agreement has been confirmed.
Deribit is the dominant player in the crypto options market and was valued between $4 billion and $5 billion earlier this year. The platform saw nearly $1.2 trillion in trading volume in 2024, nearly doubling its activity from the previous year.
Coinbase, primarily known for its spot trading business, would significantly strengthen its foothold in the derivatives space with this acquisition, aligning with its broader expansion strategy.
Kraken and Deribit
The potential acquisition follows earlier reports that Kraken had also explored a bid for Deribit. Coinbase has been increasingly focused on growing its derivatives offerings, having already launched derivatives trading for U.S. retail users and obtained a license to offer crypto futures.
With the derivatives market now accounting for a major share of crypto trading volumes, securing a platform like Deribit could give Coinbase a strong competitive advantage in the sector.
While the negotiations have reached an advanced stage, Bloomberg reported that it remains unclear if the two firms will finalize a deal.
