Coinbase has announced that it will acquire Deribit, the world’s largest crypto options platform, for about $2.9 billion. The original report framed the transaction around a 6.9 times price-to-sales calculation and described the move as Coinbase taking advantage of an opportunity to add a major options venue to its business.
The stated goal of the acquisition is to combine spot, futures and options trading into a one-stop crypto asset trading ecosystem. Deribit holds more than 80% of the crypto options market and has recorded $1 trillion in trading volume, making its options business the central asset in the deal.
For Coinbase, bringing Deribit into its platform would strengthen its ability to offer a broader derivatives product set alongside existing spot trading services. According to the input report, Deribit’s market share and trading scale will significantly enhance Coinbase’s profitability and market position, while also supporting the global expansion of its crypto derivatives business.