Coinbase Drops $2.9B Bomb—Deribit Acquisition Marks Crypto’s Biggest Power Move

Wall Street’s gonna hate this one. Coinbase just flexed its war chest with a record-shattering $2.9 billion play for derivatives giant Deribit—because apparently, retail trading fees weren’t enough.

The deal turns the NASDAQ-listed exchange into an instant derivatives powerhouse overnight. Forget ’slow and steady’—this is crypto’s version of a hostile takeover, minus the hostility (and the regulation, some would whisper).

Deribit’s options traders better buckle up. When the suits from San Francisco meet Amsterdam’s crypto cowboys, the culture clash alone could mint a thousand shitcoin memes.

One thing’s certain: while traditional finance debates ’blockchain potential,’ Coinbase just bought the casino. Place your bets.

Other crypto acquisitions

The move comes amid a resurgence in crypto dealmaking, fueled by a more favorable regulatory climate under President Trump. 

Industry players, buoyed by renewed political backing, are racing to expand their product offerings. Kraken, for example, recently acquired retail futures platform NinjaTrader for $1.5 billion, and Ripple struck a $1.25 billion deal for credit network Hidden Road.

Coinbase’s Deribit acquisition highlights a strategic bet on crypto derivatives as a key growth area, especially with global institutions increasingly active in the space. 

Other recent Coinbase acquisitions include One River Digital (now Coinbase Asset Management) and Tagomi (now Coinbase Prime).