U.S. company Coinbase has bought the UAE-based Deribit platform for $2.9 billion. This is the biggest deal ever in the cryptocurrency industry based on value.
Coinbase said in an official statement that the deal includes $700 million in cash and 11 million Class A shares of the company’s stock.
The acquisition is expected to be finished by the end of this year, but it still needs approval from regulators.
Deribit is one of the top platforms in the world for trading crypto derivatives. In 2024, people traded over $1 trillion on its platform, and it currently has around $30 billion in active contracts.
The purchase is part of Coinbase’s plan to grow its global crypto derivatives market business. This area is a small part of Coinbase’s business now compared to bigger platforms like Binance.
Deribit is a UAE-based company focusing on crypto derivatives trading, especially cryptocurrency options.
It is known for serving large business clients and has built a strong, global user base. The platform is also committed to following regulations.
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