Coinbase Finalizes $2.9B Deal to Dominate Crypto Derivatives

- Coinbase completed its $2.9 billion acquisition of Deribit, solidifying its dominance in crypto derivatives. - The deal adds Deribit’s $59 billion in open interest and over $1 trillion in annual trading volume to Coinbase's platform. On August 14, 2025, The Block reported that Coinbase completed its $2.9 billion acquisition of crypto derivatives exchange Deribit, cementing the company's position as the global leader in the crypto derivatives market. The deal, originally announced in May 2025, makes Coinbase the top player in both open interest and options trading volume. As part of the acquisition, Deribit brings its massive $59 billion in open interest and an annual trading volume of over $1 trillion. In addition, the platform recorded a record-high monthly trading volume of $185 billion in July. In 2024, its year-over-year trading volume had surged 95% to reach $1.185 trillion. By integrating Deribit, Coinbase will now offer a diverse product suite—including spot trading, futures, perpetuals, and options—under one unified ecosystem. The company expects this move to boost its global reach and enhance market liquidity. Furthermore, Deribit contributes unique products, such as inverse and USDC-settled options and futures for various cryptocurrencies, along with select spot markets. Following the acquisition's completion, Deribit co-founders John Jansen and Marius Jansen will step down from the company. As of August 14, 16:16 UTC: - Bitcoin (BTC) was trading at $117,626.39, showing a 3.28% decline in 24-hour trading volume. - Ethereum (ETH) was trading at $4,545.47, reflecting a 3.10% decline in 24-hour trading volume. - USD Coin (USDC) remained pegged at $1, with a minimal 0.006% 24-hour trading volume change.