Coinbase is reportedly in advanced discussions to acquire Deribit, a leading crypto derivatives exchange specializing in Bitcoin and Ether options.
Acquisition Plans
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.
Market Impact
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.
Competition and Prospects
Earlier reports indicated that Kraken had also explored a bid for Deribit. Coinbase, increasingly focused on growing its derivatives offerings, has already launched derivatives trading for U.S. retail users and obtained a license to offer crypto futures.
While the negotiations have reached an advanced stage, it remains unclear if the two firms will finalize a deal.
