Coinbase has completed its acquisition of Deribit, calling it a major step towards becoming the most comprehensive global crypto derivatives platform.
Coinbase Completes Deribit Acquisition
Deribit, the world’s largest crypto options exchange by volume and open interest, reported about $60 billion in current open interest and more than $1 trillion traded in 2024.
The platform experienced its strongest month on record in July 2025, with trading volumes exceeding $185 billion amid a surge in institutional activity.
Coinbase said Deribit’s “fast, capital-efficient, and battle-tested” platform complements its own growing futures and perpetuals business, enabling it to offer spot, futures, perpetuals and options trading on one platform.
The company said the acquisition will help it scale globally with broader participation and deeper liquidity.
Greg Tusar, Vice President of Institutional Products at Coinbase, said the deal positions the company “to lead the next wave of innovation” as demand for crypto options accelerates.
From a financial perspective, Coinbase expects Deribit to be immediately accretive to adjusted EBITDA.
Deribit generated more than $30 million in transaction revenue in July, and Coinbase said its third-quarter results will include Deribit’s contribution from August 14 to September 30.
The acquisition will also add about $10 million in additional technology, development, and administrative expenses in the quarter, excluding deal-related amortisation.
Coinbase said the deal represents a significant milestone in building “faster, more sophisticated, and more accessible” crypto derivatives markets.
