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Coinbase Could Be Near Multi-Billion Dollar Deal for Deribit: Bloomberg
Consummation of an acquisition would greatly advance Coinbase's push into the crypto derivatives market.
Updated Mar 21, 2025, 7:43 p.m. Published Mar 21, 2025, 5:56 p.m.
What to know:
- Coinbase is in advanced discussions with leading global crypto derivatives exchange Deribit, reports Bloomberg.
- Deribit earlier this year was reported to be valued in the $4 billion to $5 billion range.
Animal spirits in the crypto industry continue to be evident amid the eased regulatory stance of the Trump administration, with leading U.S. spot exchange Coinbase (COIN) in advanced acquisition talks with leading global derivatives exchange Deribit, reports Bloomberg.
According to the story, the companies have notified Dubai regulators (where Deribit is licensed) about the discussions.
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Bloomberg earlier this year — alongside rumors that Kraken was discussing an acquisition of Deribit — reported Deribit could be valued in the area of $4 billion to $5 billion.
Mostly known for its spot trading business, Coinbase (COIN) would be making a big push into the highly profitable crypto derivatives market with a purchase of Deribit, which saw trading volume in 2024 of nearly $1.2 trillion — almost double that of the year prior.
Earlier this week, another U.S. crypto exchange — Kraken — boosted its derivatives business with a $1.5 billion deal to purchase Ninja Trader.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Tom Lee urges BitMine shareholders to approve share increase ahead of January 14 vote
The chairman of the former bitcoin miner-turned-ether treasury firm reiterated his view that Ethereum is the future of finance.
What to know:
- Tom Lee, chairman of Bitmine Immersion (BMNR), urged shareholders to approve an increase in the company's authorized share count from 500 million to 50 billion.
- Lee assured shareholders that the increase is not intended to dilute shares, but instead to enable capital raising, dealmaking, and future share splits.
- Shareholders have until January 14 to vote on the proposal, with the annual meeting scheduled for January 15 in Las Vegas.
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