Coinbase in Talks to Acquire Crypto Options Exchange Deribit

A deal would give Coinbase a big boost in the lucrative crypto derivatives market.

Coinbase is in advanced talks to acquire Deribit, the world’s largest crypto options exchange, Bloomberg reported on Friday, a deal that would significantly expand Coinbase’s derivatives business outside of the U.S.

Coinbase, the biggest U.S. crypto exchange, launched an international derivatives exchange in 2023, but it is still best known for spot crypto trading as opposed to derivatives trading. Bloomberg previously reported that Deribit could be valued at around $4 billion to $5 billion in a sale.

Crypto M&A has been heating up amid a favorable regulatory environment for crypto under President Donald Trump. Kraken, a rival exchange to Coinbase, said on Thursday it was acquiring NinjaTrader, which offers futures trading for individual investors, for $1.5 billion.