Coinbase Finalizes $2.9B Deribit Acquisition: Eyes 'Everything Exchange'

Coinbase Completes $2.9 Billion Deribit Acquisition

Coinbase has officially integrated crypto options platform Deribit into its exchange, finalizing the acquisition deal initially announced in May. This move aligns with Coinbase's strategic vision to evolve into a comprehensive 'Everything Exchange' for digital assets.

In a blog post, Coinbase stated that the acquisition positions it as the "most comprehensive global crypto derivatives platform."

The deal follows a record month for Deribit, with trading volumes exceeding $185 billion in July and nearly $60 billion in open interest on the platform.

The acquisition, valued at $2.9 billion, involved a combination of 11 million shares of Class A stock and $700 million in cash.

Coinbase aims to offer a complete suite of trading products, encompassing spot, futures, perpetuals, and options, all within a unified platform. The company believes this expansion will enhance its global reach, increase participation, and deepen market liquidity.

Vision To Become The Everything Exchange

Coinbase CEO Brian Armstrong highlighted the Deribit team's expertise as crucial to realizing the 'Everything Exchange' vision, enabling the offering of industry-leading derivatives products worldwide.

Coinbase's broader strategy includes plans to introduce tokenized stocks and prediction markets in the U.S.

Recently, Coinbase launched DEX trading for U.S. users, supporting Base tokens and planning to add Solana tokens, which is expected to significantly increase trading volume.

Following the Deribit announcement, COIN stock experienced a slight dip. TradingView data indicates a price of around $320, down over 2% in today’s session, continuing a downtrend from its all-time high of $436 in July.