Coinbase Plans to Acquire Deribit in a $2.9B Deal

• Coinbase plans to acquire Deribit to expand into crypto options and futures trading.
• The proposed $2.9B deal would give Coinbase a stronger role in derivatives.

Coinbase has officially announced plans to acquire Deribit, a Dubai-based crypto derivatives trading platform, for a deal worth $2.9 billion. The deal consists of $700 million in cash and the rest in Coinbase shares. If you imagine an acquisition like buying a shop next door to open a new branch, this one is much bigger—because it goes straight into the heart of the hot global derivatives industry.

Big news 🚨 We’re excited to join forces with @Coinbase to power a new era in global crypto derivatives.

This acquisition will accelerate the foundation we’ve built – bringing spot, futures, perps, and options under one trusted brand.

Together, we’re building the future. 🌍📈 pic.twitter.com/0pCwuP6t7Z

— Deribit (@DeribitOfficial) May 8, 2025

Coinbase Enters the Derivatives Arena With a Bold Move

Deribit itself is known as one of the big players in Bitcoin and Ethereum options and futures. Throughout 2024, its trading volume has exceeded $1 trillion. Just think, if people usually buy crypto to hold or sell quickly, at Deribit they actually play more complex strategies such as hedging and speculating on price direction through derivative contracts.

With Coinbase’s entry, it means that they are now not only strong in the spot market, but also ready to compete in an arena that has so far been dominated by a handful of players such as CME and Binance.

From East Coast Offices to Stablecoin Strategies

On the other hand, this is not the only breakthrough that Coinbase has made lately. In the same week, they also expanded their business reach to Charlotte, North Carolina. There, more than 130 employees will be recruited to strengthen the compliance and customer service teams.

According to Brian Armstrong, Coinbase CEO, the choice of the city was not without reason—support from the pro-crypto government under President Trump was one of the main drivers. You could say, they are building an “eastern headquarters” to face increasingly fierce competition.

Furthermore, Coinbase has also made transaction fees free for PayPal’s PYUSD stablecoin. Not only that, users can also directly exchange PYUSD to US dollars. They want to encourage the use of stablecoins in digital payments and make DeFi adoption wider. A kind of strategy of “try it for free first, after a while you will definitely get addicted.”

However, not all news comes with a smiling face. Coinbase’s first-quarter revenue was recorded at $2.03 billion, up 24% from last year, but still below analyst expectations of $2.1 billion.

Transaction revenue fell 19% to $1.3 billion, and earnings per share plunged to $0.24, well below the $1.93 forecast. Although the stock rose as Bitcoin prices soared, in after-hours trading, Coinbase shares fell nearly 3%.

In addition, CNF previously reported that Coinbase has also rolled out a Bitcoin-based lending service to users in the US through a partnership with Morpho. With this scheme, users can borrow up to $1 million in USDC, and the repayment is flexible. Just imagine you have Bitcoin, but need cash quickly—just pledge it without having to sell your assets.