- Coinbase is in advanced talks to buy Deribit to boost its presence in the growing crypto derivatives market.
- Deribit processed 1.2 trillion dollars in trades in 2024 showing strong demand for crypto futures and options.
- Kraken acquired NinjaTrader for 1.5 billion dollars to offer crypto derivatives and challenge Coinbase in the US.
Coinbase is close to a deal to acquire Deribit, a major crypto derivatives exchange. Both firms have informed Dubai regulators about the ongoing talks. Deribit operates under a license in the region and the deal would allow Coinbase to expand its presence in the crypto derivatives market.
Deribit has built a strong position in this sector since launching in 2016. The final agreement is still pending, and the companies have not shared further details publicly.
Derivatives Expansion Gains Momentum
Coinbase has offered mostly spot trading but is now shifting toward derivatives. It launched a derivatives arm in Bermuda in 2023. The possible Deribit deal would speed up this expansion. Deribit offers Bitcoin and Ether options and futures contracts.
Its total trading volume reached $1.2 trillion in 2024, more than double the previous year. This growth shows how crypto traders are using derivatives to manage risk and respond to fast market changes.
Regulatory Landscape Supports Growth
Coinbase would need to adopt Deribit’s existing license agreements if the acquisition goes forward. Talks with Dubai authorities are ongoing as the wider market environment is also changing. The Trump administration in the U.S. has taken steps that favor crypto firms.
New appointments and policies have created a more open regulatory climate. This shift may encourage more crypto companies to scale and compete with larger firms.
Kraken Adds Pressure With New Deal
Coinbase is not the only exchange moving into crypto derivatives. Kraken recently acquired NinjaTrader for $1.5 billion. This U.S.-based futures platform will help Kraken offer crypto derivatives in the American market.
The move increases pressure on Coinbase and others in the space. Kraken’s strategy includes expanding trading services and preparing for a public listing. Competition in the crypto derivatives sector is now rising quickly.
