Coinbase seals Deribit acquisition in 5th deal of 2025

Crypto exchange Coinbase closed the acquisition of Deribit, the world’s largest crypto options trading platform by volume, adding to its portfolio of digital asset businesses.

Trading volumes on Deribit topped $1 trillion in 2024, and the platform has a “loyal base” of institutional and sophisticated traders, Coinbase said on Thursday.

Coinbase agreed to acquire Deribit for $2.9 billion in May as part of its international expansion strategy.

The exchange continues to branch out and serve different segments within crypto, and offers a perpetual futures platform, a prime brokerage, a spot retail trading platform, institutional lending services and asset custody for clients in an attempt to become a one-stop shop for crypto.

Coinbase acquires five businesses so far in 2025

Coinbase has acquired five companies and projects so far in 2025, including Deribit, as the company expands and diversifies its services.

The company announced the purchase of Spindle, a blockchain-based advertising platform that helps content creators increase their online visibility, in January.

The same month, the exchange acquired the team behind Roam, a blockchain-based online browser. 

Coinbase acquired the Liquifi platform in July. Liquifi is a company focused on managing early-stage token startups.

Other crypto exchanges, brokerages branch out to adjacent businesses

Major crypto exchanges continue to branch out into adjacent businesses by offering digital asset services to different target markets within crypto.

Kraken announced the debut of tokenized stock trading for non-US residents in May, expanding into the tokenized securities market.

The exchange also offers crypto futures trading, asset custody, staking, and over-the-counter services for institutional clients.

Brokerage platform Robinhood offers mixed-asset trading services to clients, blurring the line between traditional financial services and digital finance.

The company announced a layer-2 blockchain for tokenized stock trading in June for customers in the European region.

Binance, the world’s largest exchange by trading volume, also offers a suite of retail and institutional services, including options, futures trading and token launch platforms.

The exchange has been steadily acquiring crypto wallet providers, blockchain development teams, other crypto exchanges and analytics platforms since 2018.