Coinbase has announced the completion of its acquisition of Deribit, enabling the platform to become a dominant player in the cryptocurrency derivatives market.
Completion of Acquisition
On August 14, 2025, Coinbase completed its $2.9 billion acquisition of Deribit. The deal involved $700 million in cash and 11 million Class A shares of Coinbase. CEO Brian Armstrong emphasized the importance of this step in expanding the company's market reach.
Impact on Derivatives Market
As a result of the acquisition, key assets such as BTC and ETH reacted immediately, leading to increased liquidity in the options and futures markets. This is expected to enhance trading dynamics and position Coinbase as a significant player in the crypto derivatives market.
Financial Implications
The financial aspects of the acquisition include increased volume and open interest in BTC and ETH derivatives. Coinbase expects the acquisition to be 'immediately accretive' to their adjusted EBITDA. This move could lead to broader access to crypto markets and attract institutional interest.
The acquisition of Deribit allows Coinbase to strengthen its position in the global derivatives market, anticipating improved liquidity and new investment opportunities in cryptocurrency assets.
