Coinbase Deribit Acquisition Talks: What This Deal Means for Crypto Trading

The crypto industry is thriving under the Trump administration’s relaxed regulations, fueling a wave of expansion and bold moves. Now, Coinbase (COIN), one of the largest U.S. exchanges, is in advanced talks to acquire Deribit, a global leader in crypto derivatives, according to Bloomberg. If the deal goes through, it could be one of the biggest shake-ups in the derivatives market.

With Deribit handling nearly $1.2 trillion in trades last year, this acquisition could give Coinbase a major edge. But will the deal happen? Let’s understand.

A Potential $5 Billion Acquisition

If coinbase coinbase - support@coinbase.com WalletCentralised Exchange acquires Deribit, it will take over its operating license. While discussions are ongoing, no final deal has been reached. Earlier this year, Deribit was valued between $4 billion and $5 billion. This acquisition would strengthen Coinbase’s derivatives business, which currently focuses on futures trading. In 2024, Deribit handled nearly $1.2 trillion in trading volume – almost double the previous year’s total.

Coinbase Expands Its Derivatives Market

Coinbase is pushing deeper into the derivatives market. The company recently announced plans to offer 24/7 futures trading for Bitcoin and Ethereum, aiming to attract more investors. Known for its spot trading services, Coinbase is now looking to expand into derivatives, and acquiring Deribit—the largest platform for Bitcoin and Ether options – would be a significant step forward.

Kraken Joins the Race

Coinbase isn’t the only exchange making big moves. Rival exchange kraken kraken - support@kraken.com Centralised ExchangeDecentralised Exchange recently announced plans to buy derivatives platform NinjaTrader for $1.5 billion. This deal will allow Kraken to offer crypto derivatives in the U.S. Kraken is also preparing to go public by Q1 2026, according to Bloomberg.

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More Futures Trading on the Way

Even as Coinbase considers the Deribit acquisition, it continues expanding its derivatives offerings. On March 15, it filed with the CFTC to launch futures for Cardano (ADA) and Natural Gas (NGS), with trading possibly starting by March 31. This follows its recent launch of Solana (SOL) and Hedera (HBAR) futures.

Crypto Derivatives Market Heats Up

Coinbase currently offers derivatives for 92 assets worldwide, though fewer options are available in the U.S., according to its 2024 report. Meanwhile, competition is increasing—Robinhood entered the crypto futures market in January, directly challenging Coinbase. At the same time, CME Group, the world’s largest derivatives exchange, saw a massive 300% rise in crypto derivatives trading, reaching $10 billion in daily volume in Q4 2024.

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