Coinbase's Deribit buy shows growing derivatives market

Coinbase’s agreement to buy Deribit highlights the increasing importance of financial derivatives for cryptocurrency exchanges, according to industry executives. 

On May 8, Coinbase, the US’s largest crypto exchange by trading volume, agreed to acquire crypto derivatives platform Deribit for $2.9 billion in the crypto industry’s largest corporate acquisition to date.  

The deal reflects increasing competition among digital asset exchanges and brokerages — including Coinbase, Kraken and Robinhood ...