Coinbase Is Reportedly in “Advanced Talks” to Acquire Crypto Derivatives Exchange Deribit

According to Bloomberg sources, the deal has the potential to supercharge its expansion into options trading and intensify its rivalry with US competitors Robinhood and Kraken

Coinbase is in advanced talks to acquire crypto derivatives exchange Deribit, according to Bloomberg.

The deal would see Deribit, which is licensed in Dubai and the largest platform globally for Bitcoin and Ether options, being valued between $4 billion and $5 billion. It would also mark Coinbase’s most aggressive push yet into derivatives, an increasingly lucrative segment of the market.

Deribit is best known for its deep liquidity and high volumes, processing nearly $1.2 trillion last year. The exchange also stands out with its diverse range of products, catering to both retail and institutional traders.

Coinbase has long dominated US spot markets with its user-friendly interface and extensive services. However, Robinhood is rapidly expanding its crypto offerings following the $200 million acquisition of Bitstamp, which includes plans to roll out staking, stablecoins, and more tokens.

Bitstamp lists about 100 tokens and has deep ties to institutional players, positioning Robinhood to enter the international derivatives and staking arena.

While Robinhood has received praise for its rapid product development, Coinbase is benefitting from surging trading volumes and tailwinds from pro-crypto US policy.

“Coinbase remains the dominant platform to ride the tailwinds,” Bernstein recently wrote, adding that perpetual futures and other new trading products could soon gain US approval.

Kraken, on the other hand, has taken a different route — acquiring traditional futures broker NinjaTrader in a $1.5 billion deal announced on Thursday. The purchase gives Kraken a CFTC-registered license and opens the door to offering crypto futures in the US.