Coinbase Makes History with $2.9B Acquisition of Deribit

In a groundbreaking move, Coinbase has acquired Deribit, the world’s leading crypto options exchange, for $2.9 billion. This landmark deal, the largest in crypto industry history, solidifies Coinbase’s dominance in the cryptocurrency derivatives market. The acquisition includes $700 million in cash and 11 million shares of Coinbase stock, positioning the firm as a global leader in derivatives trading. Deribit’s impressive $30 billion open interest and $1 trillion annual trading volume further enhance Coinbase’s market presence. This strategic acquisition comes amid Coinbase’s recent earnings miss, highlighting the company’s aggressive expansion plans in the crypto derivatives space. The deal is expected to reshape the competitive landscape of the crypto exchange market, with Coinbase now offering a comprehensive suite of spot and derivatives trading services. Industry analysts predict this move will accelerate institutional adoption of crypto derivatives and strengthen Coinbase’s position as a one-stop-shop for digital asset trading. The acquisition also underscores the growing importance of derivatives in the crypto ecosystem, as traditional finance increasingly intersects with digital assets. As of May 2025, this deal represents a significant milestone in the maturation of the cryptocurrency industry and Coinbase’s evolution from a simple exchange to a full-service financial platform for digital assets.

Coinbase Acquires Deribit in $2.9B Landmark Crypto Deal Amid Earnings Miss

Coinbase has cemented its dominance in the cryptocurrency derivatives market with the acquisition of Deribit, the world’s leading crypto options exchange, for $2.9 billion. The deal, the largest in crypto industry history, combines $700 million in cash and 11 million shares of Coinbase stock, positioning the firm as a global leader in derivatives trading.

Deribit’s $30 billion open interest and $1 trillion annual trading volume—primarily outside the U.S.—now falls under Coinbase’s umbrella. The move signals aggressive expansion into derivatives, a sector increasingly driving institutional crypto participation.

Treasury Secretary Bessent Criticizes Senate Over Failed GENIUS Stablecoin Bill

Treasury Secretary Scott Bessent lambasted the Senate for blocking the GENIUS Act, calling it a missed opportunity to cement U.S. leadership in stablecoin regulation. The bill’s collapse followed last-minute Democratic defections spurred by concerns over hastily revised provisions and perceived regulatory shortcomings.

Industry heavyweights, including Coinbase CEO Brian Armstrong, remain undeterred, signaling crypto legislation as a top priority. Renewed efforts to advance the bill are anticipated as early as next week.

The Senate’s rejection of the GENIUS Act has sparked fears that the U.S. may cede ground in the global race for digital asset supremacy. "For stablecoins and other digital assets to thrive globally, the world needs American leadership," Bessent asserted.