Coinbase has finalized its $2.9 billion acquisition of Deribit, the leading crypto options exchange processing $1 trillion in 2024 volume. The deal strengthens Coinbase’s derivatives offering while CalPERS increased its holdings by 42% in Q2.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
2 mins read
Coinbase confirmed on August 14 it has completed a $2.9 billion cash-and-stock acquisition of Deribit, the world’s largest crypto options exchange by trading volume and open interest.
Deribit, based in the Netherlands, processed about $1 trillion in options volume during 2024 and currently holds roughly $59 billion in open interest. Its market dominance in options adds depth to Coinbase’s existing spot, futures, and perpetual swap businesses.
We've closed the deal – excited to welcome @LStrijers and the whole Deribit team to Coinbase.
Their talent will be a key part of us building the everything exchange, and being able to offer industry-leading derivatives products around the world. pic.twitter.com/apX5tw95UI
— Brian Armstrong (@brian_armstrong) August 14, 2025
CEO Brian Armstrong said the deal advances Coinbase’s goal of becoming an “everything exchange,” hosting a full suite of crypto products under a regulated umbrella. The integration is expected to boost liquidity, attract institutional flows, and strengthen Coinbase’s competitive edge in the global derivatives market.
Coinbase’s deal to acquire Deribit comes shortly after CalPERS, the largest US pension fund by assets, disclosed it had significantly increased its Coinbase holdings.
According to a recent Barron’s report, CalPERS purchased an additional 98,827 Coinbase shares in Q2 2025, bringing its total to 332,791 shares — a 42% jump from the prior quarter.
The pension fund, which manages approximately $570 billion, also added to positions in Palantir, Nvidia, and Robinhood Markets. CalPERS emphasized its investments are driven by systematic, index-oriented strategies rather than short-term events.
Coinbase stock price reaction was muted on Thursday, trading down 1.2% intraday at $323 with a market capitalization of $83 billion at press time, according to Nasdaq data.
Coinbase price action, Aug 14, 2025
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
