Coinbase has officially closed its acquisition of Deribit, cementing its position as the world’s largest crypto derivatives platform by both open interest and options trading activity.

The U.S.-based exchange confirmed the deal on Thursday, marking a major milestone in its global expansion strategy.

The agreement, first revealed in May 2025, carried a price tag of roughly $2.9 billion, split between $700 million in cash and 11 million shares of Coinbase Class A stock. Founded in 2016 by brothers John and Marius Jansen, Deribit has built a dominant position in the crypto options market, handling more than $1 trillion in annual trading volume.

Recent performance highlights that strength: in July, Deribit posted a record…