Coinbase has completed its acquisition of Deribit, the leading global crypto options exchange, in a move that could reshape the structure of digital asset derivatives markets.
Deribit, which processed over $1 trillion in trades last year and currently commands around $60 billion in open interest, saw record activity in July 2025 with $185 billion in monthly volume. The surge reflects growing institutional appetite for crypto options, a segment now poised for further acceleration under Coinbase’s ownership.
The biggest logo x logo partnership in crypto just became official.
We closed the deal with @DeribitOfficial. Now we’re building the most powerful global crypto platform, together. pic.twitter.com/a7fCmx3E6T
— Coinbase ????️ (@coinbase) August 14, 2025
With the deal, Coinbase becomes one of the only platforms to offer a full range of crypto trading products, spot, futures, perpetuals, and options in a single venue. The integration is expected to deepen market liquidity and attract larger institutional flows, strengthening crypto’s infrastructure for more sophisticated trading strategies.
Industry analysts note that the acquisition arrives as global derivatives volumes are climbing, with options markets increasingly seen as critical for hedging, price discovery, and capital efficiency in digital assets. Deribit’s established dominance in options trading gives Coinbase immediate scale and reach in a market where competitors are racing to expand beyond spot products.
Financially, Deribit generated more than $30 million in transaction revenue in July alone. Coinbase will consolidate its results from mid-August, projecting the business to be immediately accretive to adjusted EBITDA despite an expected $10 million increase in quarterly operating costs.
The deal positions Coinbase to compete head-on with major global derivatives players, while potentially accelerating the adoption of crypto as a mainstream asset class. As regulatory landscapes evolve and institutional participation rises, the combination of Coinbase’s global access and Deribit’s technical infrastructure could mark a pivotal shift in the competitive balance of the crypto trading ecosystem.
In a recent development, Squads entered a strategic partnership with Coinbase to accelerate the adoption of USD Coin (USDC) across the Solana network, aiming to make the dollar-backed stablecoin the default currency within its product suite. The collaboration builds on Squads’ existing USDC integration and is designed to drive broader usage across Solana-based applications.
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