Coinbase Closes Deribit Deal as Crypto Derivatives Skyrocket
Main Idea
Coinbase has completed its acquisition of Deribit, enhancing its derivatives trading capabilities and expanding its ambitions to become a comprehensive global crypto trading platform.
Key Points
1. Coinbase officially acquired Deribit, the world's leading crypto options exchange by volume and open interest.
2. The $2.9 billion acquisition, announced in May, is part of Coinbase's strategy to build an 'everything exchange'.
3. Deribit currently has around $60 billion in open interest in derivatives, with Bitcoin futures OI at approximately $83 billion.
4. Coinbase has acquired five companies this year, including Spindle, Roam, and Liquifi, as part of its aggressive expansion.
5. Deribit recently accepted BlackRock’s USD Institutional Digital Fund (BUIDL) as collateral, providing investors with stable yield options.
6. Coinbase's stock (COIN) has performed well, gaining 31% since the beginning of 2025 and 65% compared to the same time last year.
Description
Coinbase has officially completed its acquisition of Deribit, the world’s leading crypto options exchange, in a strategic move that significantly expands its derivatives trading capabilities. “This milestone marks a major step forward in our mission to build the most comprehensive, trusted platform for global crypto derivatives trading,” the firm said in a Thursday announcement . “We just closed the biggest deal in crypto history,” said Emilie Choi, President and Chief Operating Officer of Coinb...
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