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Coinbase
2026-07-07 08:45:37

Coinbase to Acquire Deribit for $2.9 Billion, Expanding Its Global Crypto Options Franchise

Coinbase has announced a roughly $2.9 billion acquisition of Deribit, the leading crypto options exchange, in a deal consisting of $700 million in cash and 11 million shares of Coinbase Class A common stock, subject to customary adjustments. The transaction is expected to close by year-end. With Deribit bringing around $30 billion in open interest and more than $1 trillion in trading volume, Coinbase said the deal would significantly strengthen its position across global crypto derivatives and help build a one-stop platform spanning spot, futures, perpetuals, and options. The acquisition also comes at a time when investors are closely watching Coinbase’s earnings outlook, with analysts expecting softer quarterly results amid weaker retail trading activity. Market participants see Deribit’s options-heavy business as a source of more diversified and less cyclical trading revenue. Beyond the immediate financial impact, the deal is widely viewed as a strategic move tied to regulation, international licensing, and Coinbase’s longer-term push to broaden its derivatives offering for institutional and potentially U.S. users.

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Coinbase to Acquire Deribit for $2.9 Billion, Expanding Its Global Crypto Options Franchise
Bitcoin deriv
2026-07-03 22:30:14

Nakamoto Unveils a Bitcoin Derivatives Strategy to Monetize Volatility and Limit Downside Risk

Nakamoto Inc. has introduced an actively managed Bitcoin derivatives program designed to generate income from volatility while protecting its balance sheet against sharp downside moves. The strategy has been in place since the first quarter of 2026 and is meant to complement, not replace, the company’s core treasury approach of holding Bitcoin over the long term. A portion of Nakamoto’s Bitcoin is used as collateral in a separately managed account run by Bitwise Asset Management, while custody is handled by Kraken Institutional. The program is built around two sleeves: an income sleeve that writes covered calls and call spreads to collect option premiums, and a hedging sleeve that buys protective puts and put spreads to reduce losses during price declines. Nakamoto says premiums may be received in either Bitcoin or U.S. dollars and can be directed toward hedging costs, additional BTC purchases, or general corporate purposes. The company also stresses that Bitcoin posted as collateral remains under its ownership and continues to count toward reported holdings. Performance metrics from the first quarter of operation are expected in a forthcoming Form 10-Q filing.

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Nakamoto Unveils a Bitcoin Derivatives Strategy to Monetize Volatility and Limit Downside Risk