Coinbase in Talks to Buy Deribit for Derivatives Push

Coinbase is reportedly in discussions to acquire Deribit , the world’s largest crypto derivatives exchange. If completed, this move could dramatically expand Coinbase’s presence in the crypto trading space, especially in the high-volume derivatives market. Deribit recorded close to $1.2 trillion in total trading volume last year across options, futures, and spot products. In comparison, Coinbase has seen limited activity in derivatives, despite launching Coinbase Derivatives in 2021. A successful acquisition would provide Coinbase access to a new and highly profitable market segment. This development follows a period of growth and expansion for Coinbase, particularly after the SEC ended its legal action against the exchange. Coinbase has since introduced new features like verified liquidity pools aimed at both institutional and retail traders. According to a recent Bloomberg report, talks with Deribit are ongoing, though no deal has been finalized. The potential merger is being viewed by some in the industry as a turning point that could help transform Coinbase into a global crypto powerhouse . Market watchers note that derivatives trading offers much higher volumes and revenue opportunities than regular spot markets. In January, Deribit was reportedly in acquisition talks with Kraken, with an estimated valuation of $5 billion, but that deal did not move forward. If Coinbase closes the deal, it could mark one of the most significant mergers in the recent history of the crypto sector. Social media commentators have taken notice of Coinbase’s strategy. Analyst Zach Humphries pointed out that Coinbase is building a “crypto empire,” especially by targeting the growing derivatives space. He noted that this market is where most of the volume — and opportunity — exists. At the same time, Deribit has faced some operational setbacks. Last month, it exited the Russian market due to EU sanctions , impacting its regional reach. A deal with Coinbase, a publicly traded company in the U.S., could bring stability and open up new pathways for growth. There are still no public details about the acquisition price or timeline. However, if the deal goes through, it would give Coinbase an immediate foothold in a space where it has previously lacked scale — positioning the company to compete more aggressively with global players in the derivatives space. As interest in crypto derivatives continues to grow, Coinbase's potential acquisition of Deribit may signal a broader trend of consolidation and expansion in the crypto industry, with derivatives becoming a key revenue driver for leading platforms.