Coinbase Global, Inc. has finalized its acquisition of Deribit, positioning Coinbase as a comprehensive global platform for crypto derivatives. This development follows a record month for Deribit, which reported over $185 billion in trading volume in July 2025 and approximately $60 billion in current platform open interest.
Deribit, recognized as the leading crypto options exchange by volume and open interest, brings a loyal base of institutional and advanced traders to Coinbase. The platform recorded over $1 trillion in trading volume last year. Coinbase stated that Deribit’s fast, capital-efficient, and tested platform complements Coinbase’s existing futures and perpetuals business, expanding its offerings to include spot, futures, perpetuals, and options within a single platform. This integration is expected to facilitate global scaling, broader participation, and deeper liquidity.
Coinbase has provided an update on the anticipated financial impact of the Deribit acquisition for the third quarter. Deribit generated more than $30 million in transaction revenue in July. Coinbase’s Q3 results will consolidate Deribit’s financials from August 14 through September 30. The company projects Deribit to contribute approximately $10 million in additional expenses to technology and development, and general and administrative costs for Q3, excluding deal-related amortization. Coinbase anticipates that Deribit will be Adjusted EBITDA accretive immediately following the closing of the acquisition.
