Aug 14, 02:30 PM

Coinbase Buys Deribit for $2.9 Billion, Adding Crypto Options to Platform

Coinbase said it has completed a $2.9 billion cash-and-stock acquisition of Deribit, the world’s largest crypto-options exchange by trading volume and open interest. The transaction, announced 14 Aug, brings Deribit’s Netherlands-based team and technology under Coinbase’s umbrella as the San Francisco company seeks to broaden its international footprint. Deribit handled about $1 trillion in options volume during 2024 and currently carries roughly $59 billion in open interest, according to figures released with the deal announcement. Its dominance in options trading complements Coinbase’s existing spot, futures and perpetual swap businesses. Chief Executive Officer Brian Armstrong said the purchase advances the goal of turning Coinbase into an “everything exchange,” offering a full spectrum of crypto products on a single regulated platform. The company expects the integration to deepen liquidity, attract institutional traders and strengthen its position against rivals in the rapidly growing derivatives market.

#Coinbase #Deribit #San Francisco #Brian Armstrong

Written with ChatGPT .