Coinbase in Advanced Talks to Acquire Deribit: A $5 Billion Crypto Derivatives Expansion​

• Coinbase is in advanced talks to acquire Deribit, a top crypto options exchange.
• The deal would give Coinbase a Dubai license and expand its global reach.
• Deribit’s valuation is estimated between $4B and $5B, but no final agreement has been made yet.

Coinbase Global (NASDAQ: COIN), the biggest crypto exchange in the U.S., is reportedly deep into negotiations to acquire Deribit, the top global platform for Bitcoin and Ethereum options trading, according to sources cited by Bloomberg on Friday.

A Deal with Global Implications

The discussions have apparently progressed far enough that regulators in Dubai have been looped in. Deribit, which holds a license in the city, would transfer that license to Coinbase if a deal goes through. That would give Coinbase an instant regulatory foothold in a fast-growing crypto hub.

Back in January, Bloomberg reported Deribit’s valuation was somewhere between $4 billion and $5 billion. It’s unclear whether Coinbase has locked in terms yet—or if they’re still testing the waters. For now, no final agreement has been announced, and there’s always a chance the talks could fall apart before anything’s signed.

What’s At Stake for Coinbase?

For Coinbase, this would be a major move. Deribit is the king of crypto options, especially in BTC and ETH. Buying it could immediately broaden Coinbase’s product suite and deepen its influence in the derivatives space, where competition is heating up fast.

Plus, if the acquisition goes through, it would give Coinbase a solid international edge, especially in the Middle East—just as the region is becoming a hotbed for crypto innovation.

But until there’s ink on paper, it’s all speculation. Still, the fact that these talks are happening says a lot about where Coinbase is looking to go next—and how serious they are about staying on top in a crowded and evolving market.