Coinbase Global (COIN), the largest U.S. cryptocurrency exchange, is reportedly in talks to buy Deribit, the world’s leading trading platform for Bitcoin (BTC) and Ethereum (ETH) options.
Talks are reportedly far enough along that regulators in Dubai, where privately held Deribit holds an operating license, have been notified of a possible deal coming together.
That operating license would be transferred to Coinbase should it successfully acquire Deribit.
While talks are said to be ongoing, no deal has been announced. Earlier this year, Deribit’s valuation was reported to be about $5 billion U.S.
News that Coinbase Global might be buying Deribit comes as crypto exchanges and asset managers race to offer new digital assets and investment products to investors.
Over the last week, exchange-traded funds (ETFs) that track futures in cryptocurrency Solana (SOL) began trading in the U.S.
Coinbase recently announced plans to launch around-the-clock futures trading of both Bitcoin and Ethereum to attract more investors to its online trading platform.
For Coinbase, the purchase of Deribit could give its business and stock a lift.
Despite posting strong earnings, Coinbase’s stock has declined 26% so far in 2025 to trade at $189.86 U.S. per share.
