Coinbase Drops $3 Billion To Snag Deribit In Major Crypto Shake-Up

Coinbase has closed its purchase of Deribit in a deal reported at $2.9 billion, a move that brings one of the biggest crypto options venues into the fold of a public exchange.

According to Coinbase, the deal was paid with 11 million shares of Class A stock and $700 million in cash. The buy completes terms both firms announced in May and comes as Coinbase pushes its plan to be the “Everything Exchange.”

Deribit Brings Deep Derivatives Volume

Based on reports, Deribit had a record month in July with trading volumes topping $180 billion, and the platform shows almost $60 billion of open interest right now.

That level of derivatives activity is large by any measure, and Coinbase is selling the deal as a way to put spot, futures, perpetuals and options under one roof.

Brian Armstrong, Coinbase CEO, said the Deribit team’s talent will help build out a global derivatives offering.

This acquisition brings us closer to offering the full spectrum of trading products.

Spot, futures, perpetuals, and options, all in one seamless platform.

Read more ↓https://t.co/9WKpNK2ANn

— Coinbase (@coinbase) August 14, 2025

The deal also fits with Coinbase’s product push. According to company statements, Coinbase recently rolled out DEX trading for US users and plans to add support for Solana tokens, while also aiming to offer tokenized stocks and prediction markets in the US.

Traders noticed the move, but investors were mixed: COIN stock traded around $320 on the day of the announcement, down over 2% from the prior session and off from an all-time high of $436 in July.

Options, Figures & Regulatory Angle

Reports have disclosed that the $2.9 billion price tag reflects the combined stock and cash mix — 11 million Class A shares plus $700 million cash — and it places a hefty bet on Deribit’s current flow and engineering.

That bet comes with clear work to do: integrating order books, risk systems, custody, and compliance into a public company’s controls is complex.

There’s also a regulatory angle to watch given derivatives rules differ by country and regulators have shown interest in crypto trading venues.

For users and institutions, the acquisition could mean deeper liquidity and more product choice on a platform many already trust for custody.

For traders who rely on options and complex hedges, having those tools inside Coinbase could cut friction. But the timeline matters, and the exact rollout plan will decide how much value materializes and how fast.

Featured image from Shutterstock, chart from TradingView