Coinbase Seals $2.9 Billion Deal for Deribit to Expand Global Crypto Derivatives Reach
This strategic move positions Coinbase to strengthen its presence in the burgeoning crypto derivatives market, which has witnessed substantial growth in recent years. Deribit, founded in 2016 and headquartered in Dubai, specializes in options, futures, and spot trading. The platform reported a near doubling of its trading volume in 2024, reaching $1.2 trillion, largely attributed to increased institutional participation following the U.S. elections.
The acquisition aligns with Coinbase's broader international growth strategy, particularly as the company seeks to expand its services beyond the United States. Deribit's active license to operate in Dubai offers Coinbase a strategic foothold in the Middle Eastern market, a region that has emerged as a key global hub for blockchain and cryptocurrency businesses amid increasing regulatory pressures in the U.S. and EU.
Greg Tusar, Coinbase's Vice President of Institutional Product, stated, 'This will make us the most comprehensive player in derivatives.' The deal underscores Coinbase's commitment to diversifying its offerings and catering to the evolving needs of institutional clients.
The acquisition comes amid a surge in crypto-related mergers and acquisitions, fueled by a more supportive U.S. regulatory environment under President Trump. The administration has pledged to advance the country as a 'bitcoin superpower,' prompting a wave of deals in the sector. Notably, Kraken agreed to a $1.5 billion deal for NinjaTrader, and Ripple announced a $1.25 billion purchase of Hidden Road.
See also Tether Partners with LINE NEXT to Launch USDT on Kaia Blockchain
Coinbase's previous acquisitions, including One River Digital and Tagomi , have bolstered its service offerings and footprint in the crypto sector. The Deribit deal represents a significant step in Coinbase's ongoing efforts to expand its global reach and capitalize on the growing demand for crypto derivatives.
Deribit's CEO, Luuk Strijers, acknowledged the company's receipt of strategic investment inquiries over time but emphasized that Deribit had not been put up for sale. Despite this, the company engaged Financial Technology Partners to assess potential acquisition offers, reflecting the increasing interest in crypto derivatives platforms.
Arabian Post – Crypto News Network
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Emirates Woman
an hour ago
- Emirates Woman
How I got my job as… founder of this Moroccon-inspired fashion label
This week, we speak to Aisha Jabrane, Founder of JABASHI Fashion. Known for its intricate designs, the brand is known for their elegant abayas crafted to perfection. Welcome to the Emirates Woman weekly series 'How I got my job as…' where we speak to some incredible entrepreneurs and businesswomen both based in the UAE and globally to find out about their career paths that led them to where they are now; what their daily routines look like; the advice they'd give to those starting out; and the hurdles they've had to overcome. This fashion brand blends the intricate artistry of Morocco, the glamour of the Middle East, and the timeless elegance of South Asia into a modern luxury statement. To delve into her journey, Emirates Woman sat down with Jabrane to see how it all began. What was your favourite subject at school? Psychology. I've always been captivated by the way people think, feel, and express themselves. Fashion, to me, is an unspoken language and that early curiosity about human nature became the foundation for my creative journey. View this post on Instagram A post shared by JABASHI (@shopjabashi) What was your first job? At 18, I worked in a high-end eyewear boutique. It was my first true immersion into the world of luxury retail, where I learned that refinement is as much about experience and detail as it is about the product itself. What brought you to Dubai? While I am based in the United States, my designs were naturally drawn to Dubai's cosmopolitan energy and discerning clientele. Dubai is a global stage for elegance, where tradition meets innovation, which mirrors exactly what Jabashi Fashion stands for. What inspired you to enter the fashion space and launch JABASHI FASHION? My story is one of cultural fusion. I am American-born with Pakistani and Kashmiri heritage, and I married into Moroccan culture. Jabashi Fashion was born from my desire to weave these worlds together blending the intricate artistry of Morocco, the glamour of the Middle East, and the timeless elegance of South Asia into a modern luxury statement. Talk us through the concept. Jabashi Fashion is a curated blend of heritage and high fashion. Every piece is handcrafted to embody both tradition and contemporary allure, think Moroccan embroidery, flowing Middle Eastern silhouettes, and sophisticated detailing designed for the modern woman. What are the key elements of your role? As founder and creative director, I oversee everything from design and fabric sourcing to brand partnerships and visual storytelling. I am deeply committed to ensuring each collection carries our signature: cultural authenticity, impeccable craftsmanship, and a sense of timeless elegance. View this post on Instagram A post shared by JABASHI (@shopjabashi) Talk us through your daily routine. I start my mornings with gratitude and prayer to set an intentional tone for the day. The early hours are devoted to reviewing design progress, liaising with our artisans, and managing international logistics. Afternoons are for creative directio, photoshoots, campaign planning, and client consultations. Evenings are sacred for family time, reflection, and sketching new ideas. What advice do you have for anyone looking to follow in the same footsteps? Never dilute your story to fit into trends. In luxury fashion, your narrative is your most powerful asset. Protect your vision fiercely, build meaningful relationships with your artisans, and let quality, not quantity define your success. Tell us more about the products. We design luxury abayas, gowns, and Moroccan-inspired statement pieces that embody elegance, heritage, and modernity. Each garment is crafted using premium fabrics and fine detailing, made for women who appreciate both artistry and exclusivity. What is the best piece of advice you have ever received? 'Protect your brand like it's your name.' Reputation and trust are irreplaceable in this industry. And what is the worst? 'Play it safe.' True creativity exists beyond comfort zones. What's the biggest challenge you have had to overcome? Managing international production while preserving uncompromising quality. Working with artisans across different time zones and cultural contexts has been both a challenge and a privilege, it requires vision, patience, and precision. What lies ahead for the brand? Our vision is to expand into the Gulf region with exclusive capsule collections, high-profile collaborations, and eventually a flagship presence in Dubai. The future of Jabashi Fashion is about becoming a global name synonymous with cultural elegance and modern luxury. We will be adding very unique jewellery pieces as well. – For more on luxury lifestyle, news, fashion and beauty follow Emirates Woman on Facebook and Instagram Images: Supplied & Feature Image: Supplied
Khaleej Times
3 hours ago
- Khaleej Times
Gold gains as soft US data pressures dollar, fuels rate-cut bets
Gold edged higher on Wednesday, supported by a weaker dollar after mild U.S. inflation data cemented bets for an interest rate cut in September, while investors awaited this week's U.S.-Russia talks over the war in Ukraine. Spot gold was up 0.3% at $3,355.30 per ounce, as of 0651 GMT. U.S. gold futures for December delivery gained 0.2% to $3,405.50. "The fall in the USD enabled a moderate bounce in the gold price, with the precious metal oscillating around the $3,350 level ahead of the Trump-Putin meeting on Friday," said Tim Waterer, chief market analyst at KCM Trade. "If the meeting in Alaska doesn't resolve anything and the war in Ukraine continues, gold could be making a push back towards $3,400 once again." The summit between U.S. President Donald Trump and Russian President Vladimir Putin "is a listening exercise for the president," the White House said on Tuesday, tempering expectations for a quick Russia-Ukraine ceasefire deal. Data released on Tuesday showed that the U.S. Consumer Price Index (CPI) rose 0.2% in July, following a 0.3% increase in June. On a year-over-year basis, the CPI climbed 2.7%. The dollar index extended declines, making greenback-denominated assets more affordable to holders of other currencies. Markets are pricing in about a 90% chance of a Federal Reserve rate cut in September, with at least one additional reduction expected by the end of the year. Non-yielding gold thrives in a low-interest-rate environment. Easing trade tensions in the market, the United States and China have extended a tariff truce for another 90 days, staving off triple-digit duties on each other's goods. Investors are now awaiting more U.S. economic data due later this week, including the U.S. Producer Price Index, weekly jobless claims, and retail sales. Elsewhere, spot silver climbed 1.2% to $38.35 per ounce, platinum gained 1% to $1,348.70 and palladium rose 0.8% to $1,138.04.
Zawya
5 hours ago
- Zawya
Gold gains as soft US data pressures dollar, fuels rate-cut bets
Gold edged higher on Wednesday, supported by a weaker dollar after mild U.S. inflation data cemented bets for an interest rate cut in September, while investors focused on this week's U.S.-Russia talks over the war in Ukraine. Spot gold was up 0.2% at $3,351.46 per ounce, as of 0239 GMT. U.S. gold futures for December delivery gained 0.1% to $3,401.60. "The fall in the USD enabled a moderate bounce in the gold price, with the precious metal oscillating around the $3,350 level ahead of the Trump-Putin meeting on Friday," said Tim Waterer, chief market analyst at KCM Trade. "If the meeting in Alaska doesn't resolve anything and the war in Ukraine continues, gold could be making a push back towards $3,400 once again." The summit between U.S. President Donald Trump and Russian President Vladimir Putin "is a listening exercise for the president," the White House said on Tuesday, tempering expectations for a quick Russia-Ukraine ceasefire deal. Data released on Tuesday showed that the U.S. Consumer Price Index (CPI) rose 0.2% in July, following a 0.3% increase in June. On a year-over-year basis, the CPI climbed 2.7%. The dollar index extended declines, making greenback-denominated assets more affordable to holders of other currencies. Markets are pricing in about a 90% chance of a Federal Reserve rate cut in September, with at least one additional reduction expected by the end of the year. Non-yielding gold thrives in a low-interest-rate environment. Easing trade tensions in the market, the United States and China have extended a tariff truce for another 90 days, staving off triple-digit duties on each other's goods. Investors are now awaiting more U.S. economic data due later this week, including the U.S. Producer Price Index, weekly jobless claims, and retail sales. Elsewhere, spot silver rose 0.7% to $38.14 per ounce, platinum gained 0.4% to $1,341.80 and palladium climbed 0.3% to $1,132.89. (Reporting by Brijesh Patel in Bengaluru; Editing by Sherry Jacob-Phillips and Subhranshu Sahu)
