Coinbase officially becomes a global 'giant' in cryptocurrency derivatives after completing the acquisition of Deribit.

The leading cryptocurrency exchange Coinbase (Nasdaq: COIN) officially completed the acquisition of Deribit on August 14, marking a significant milestone in the race to dominate the global cryptocurrency derivatives market. This deal transforms Coinbase into the most comprehensive crypto derivatives platform in the world, fully integrating spot, futures, perpetuals, and options trading products within a single ecosystem.

Deribit, dubbed the world's leading options exchange by trading volume and open interest, recorded impressive achievements with trading volume exceeding 185 billion USD just in July 2025. The current open interest stands at approximately 60 billion USD, reflecting strong investor interest in cryptocurrency derivative products.

The deal was executed at the right moment as the crypto options market is booming. In 2024, Deribit processed over 1 trillion USD in options trading, firmly solidifying its leading position. Deribit’s advanced trading technology, known for its processing speed and capital efficiency, will become the foundation for Coinbase to expand liquidity and product offerings on a global scale.

Financial impact and development direction

From a financial perspective, the deal is forecasted to provide an immediate positive contribution to Coinbase's adjusted EBITDA. In July alone, Deribit generated over 30 million USD in revenue from transaction fees, an impressive figure that highlights the profitability potential of the transaction.

However, Coinbase also expects to incur an additional approximately 10 million USD in operating expenses each quarter in Q3/2025 after the deal officially closes. Additionally, depreciation costs related to the transaction will also increase, although the company has not announced a specific figure.

Despite the additional short-term costs, Coinbase positions this deal as an important long-term growth driver. Owning Deribit allows Coinbase to effectively tap into the increasing demand from institutional investors for cryptocurrency derivative products, while also expanding its influence in international markets.