Coinbase seals Deribit acquisition in 6th deal of 2025

Crypto exchange Coinbase has officially closed its $2.9 billion acquisition of Deribit, the world’s largest crypto options trading platform by volume. This marks Coinbase's sixth acquisition in 2025 as it continues to expand its portfolio of digital asset businesses.

Deribit, known for its $1 trillion trading volume in 2024 and a loyal base of institutional and sophisticated traders, is now part of Coinbase's strategy to become a one-stop shop for crypto services. The deal, initially announced in May, is a key part of Coinbase's international expansion.

Coinbase's stock saw a 2.5% dip intraday following the deal's closure, signaling mixed market reactions. Meanwhile, the exchange is not just stopping at derivatives; it's broadening its horizon with perpetual futures, prime brokerage, spot retail trading, institutional lending, and asset custody services.

Coinbase isn't alone in its expansion. Kraken ventured into tokenized stock trading for non-US residents, while Robinhood launched a layer-2 blockchain for tokenized stock trading in Europe. Binance continues to dominate with a comprehensive suite of services, from futures trading to token launch platforms.

The race to diversify and capture more of the crypto market is heating up, with exchanges and brokerages no longer content with just spot trading. The integration of traditional finance services with digital assets is becoming the new norm, blurring the lines between the two worlds.