Coinbase has officially completed the acquisition of Deribit, the largest crypto options trading platform by volume, for $2.9 billion as part of its strategy for international expansion. Deribit reported trading volumes exceeding $1 trillion in 2024 and is known for its dedicated institutional and sophisticated trader base. This marks the fifth acquisition by Coinbase in 2025, emphasizing its commitment to diversifying its range of services, including offerings like a prime brokerage and institutional lending services. In January 2025, Coinbase also acquired a blockchain-based advertising platform and the Roam team, a blockchain browser, among others. Meanwhile, other exchanges like Kraken and Binance are also expanding their operations, including launching services in tokenized securities and various crypto asset offerings. Following the announcement of the Deribit deal's closure, Coinbase’s stock saw a slight decline of about 2.5% during intraday trading.

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