Coinbase Stuns Markets with $1 Trillion Deribit Takeover – Crypto Options Dominance Secured

Wall Street's worst-kept secret is out—Coinbase just rewrote the crypto rulebook. The exchange giant swallowed Deribit whole in a deal valuing the options behemoth at a staggering $1 trillion. Game on.

Why this changes everything

Deribit's stranglehold on crypto derivatives—controlling 85% of Bitcoin and Ether options volume—just became Coinbase's nuclear weapon. The acquisition instantly transforms the NASDAQ-listed firm from regulated exchange to full-spectrum crypto powerhouse.

The institutional domino effect

Hedge funds that previously sneered at 'retail coin flippers' now face an uncomfortable truth: the most sophisticated trading tools just got vacuumed into the Coinbase ecosystem. Expect prime brokers to suddenly discover their 'long-held belief' in crypto derivatives.

Regulators left playing catch-up

While DC lawyers dust off their antitrust playbooks, the deal's timing—amid Bitcoin's 2025 bull run—proves crypto's maturing markets reward scale over speculation. Even the SEC can't sue its way out of this liquidity tsunami.

The cynical take: Another 'too big to fail' institution just got born—because what crypto really needed was more concentrated risk. Happy trading, bagholders.

• Coinbase closes deal to buy Deribit, adding crypto options to its product line.
• Deribit posted over $1 trillion in trades last year and a $185 billion monthly record in July.
• The acquisition is set to strengthen the exchange’s profitability and global market reach.

Coinbase has finalized its purchase of Deribit, the leading platform for cryptocurrency options trading. The deal gives Coinbase coverage across every major trading product in the crypto space, from spot markets to futures, perpetual contracts, and now options.

This marks a decisive step in the exchange’s push to build a broad and competitive derivatives offering. Deribit commands a strong position in the market, with about $59 billion in current open interest.

The platform processed more than $1 trillion in trades over the past year, setting a new monthly record of $185 billion in July. These figures highlight the scale of the exchange and the level of activity the exchange is now adding to its portfolio.

Building Global Scale and Liquidity

By integrating Deribit’s platform, the exchange gains a ready-made network of institutional and experienced traders who value speed, efficiency, and DEEP liquidity. The technology behind Deribit is designed for high-volume activity, making it a strong fit for Coinbase’s existing futures and perpetual services.

The timing also works in the exchange’s favor. Institutional demand for crypto options has been rising, with July’s trading surge underscoring the trend. The acquisition is expected to help expand global participation while improving market depth. With both companies combining strengths, the exchange aims to deliver an advanced derivatives market that is accessible to a wider audience.

Coinbase Sees Revenue Boost from Deribit Deal

The exchange has provided early insight into the financial impact. Deribit earned over $30 million in transaction revenue in July alone. It will consolidate Deribit’s results from August 14 through September 30 in the third-quarter results. While July’s figures give a sense of the possible, the company has cautioned not to presume the same rhythm will continue.

The biggest logo x logo partnership in crypto just became official.

We closed the deal with @DeribitOfficial. Now we’re building the most powerful global crypto platform, together. pic.twitter.com/a7fCmx3E6T

Operation costs will also rise. Coinbase expects about $10 million in increased costs this quarter for technology, development, and administrative operations, excluding deal-related amortization.

Amortization expenses related to the purchase are likely to spike significantly, but no figures are forthcoming yet. Nonetheless, Deribit is likely to contribute to Coinbase’s adjusted EBITDA from the beginning.

The purchase is consistent with the exchange’s broader plan of building a complete, credible platform for global derivatives trading. With Deribit’s established market share and Coinbase’s resources, the company is positioned to lead a surging segment, with faster execution, greater liquidity, and more complete tools for global traders.