Coinbase has announced that it will acquire Deribit, described in the source as the world’s largest crypto options platform, for approximately $2.9 billion. MarsBit framed the transaction around a “6.9 times price-to-sales ratio” and the idea of Coinbase picking up Deribit at an attractive point, while placing the discussion under its policy and regulation category. Based on the disclosed information, the deal is not limited to adding a single product line. Coinbase’s stated direction is to integrate spot, futures and options trading into one broader crypto asset trading system.
Deribit brings dominant crypto options share
Deribit holds more than 80% of the crypto options market and has recorded $1 trillion in trading volume. For Coinbase, acquiring Deribit adds a major options capability alongside its spot and futures businesses, supporting the construction of a one-stop crypto asset trading ecosystem. The approximately $2.9 billion price tag and the “6.9 times price-to-sales ratio” together form the key financial framing of the transaction.
According to the source, Deribit’s options business will significantly strengthen Coinbase’s profitability and market position, while also supporting the global expansion of Coinbase’s derivatives business. The acquisition shows Coinbase placing crypto derivatives at the center of its platform integration strategy, combining spot, futures and options to broaden its business coverage across the global crypto trading market.