Bitcoin and crypto exchange Coinbase has agreed to acquire derivatives trading platform Deribit for $2.9 billion, marking the largest acquisition in the industry’s history.

Coinbase will acquire Panama-based Deribit, which currently handles a massive volume of global Bitcoin and crypto options trading volume. Subject to regulatory approvals, the acquisition is expected to close in the second half of 2025.

Under the terms of the agreement, Coinbase will pay $700 million in cash and 11 million shares of Coinbase’s Class A common stock, the company said in a blog post.

Deribit CEO Luuk Strijers said, “We’re excited to join forces with Coinbase to power a new era in…

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