Crypto exchange Coinbase is reportedly in advanced talks to acquire crypto derivatives exchange Deribit. Deribit is the world’s largest exchange for trading Bitcoin (BTC) and Ether (ETH) options.
According to a recent Bloomberg report, Coinbase is in “advanced talks” to buy crypto derivatives exchange Deribit.
Coinbase Looks to Strengthen Its Derivatives Platform
The crypto industry continues to enjoy the more relaxed regulatory environment in the US after Donald Trump took his second term as President. According to Bloomberg reports, Coinbase is reportedly in advanced talks with Deribit amid renewed optimism in the sector. By acquiring Deribit, the leading global derivative exchange, Coinbase will severely boost its existing derivatives platform, which currently focuses only on futures. According to Bloomberg’s report, Deribit and Coinbase have notified regulators in Dubai, where Deribit is licensed, of the discussions. Citing unnamed sources, Bloomberg notes Deribit’s Dubai license would need to be transferred to Coinbase if the deal goes through.
It is still unclear whether the companies have reached a final agreement, and the talks may not lead to a deal. A deal between Coinbase and Deribit, which Bloomberg reported in January 2025, could be valued at around $4 billion to $5 billion and would mark one of the most significant acquisitions in the crypto industry’s history.
Trump Administration Inspires Wave of New Deals
Trump’s pro-crypto stance has encouraged talks about a possible acquisition. Since taking office in January, President Trump has appointed crypto advocates to vital government positions and enacted numerous policies benefiting the industry. The most notable of Trump’s moves include the Executive Order on Digital Assets, which directs the Presidential Working Group to move forward with a Crypto Strategic Reserve.
Under President Trump’s administration, Coinbase’s rival, Kraken, said it was acquiring retail futures trading platform NinjaTrader for $1.5 billion. Kraken’s acquisition of NinjaTrader will allow it to offer crypto futures and derivates in the US for the first time.
Coinbase’s Most Significant Move into Derivatives Market
The exchange offers derivatives trading outside the US via a Bermuda-based platform launched in 2023 but has traditionally only focused on spot trading. If a deal materializes from the talks, it will mark Coinbase’s most significant foray into the lucrative derivatives market. Trading volumes on Deribit, which includes options, futures, and spot trading, almost doubled last year to $1.2 trillion.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
