{"id":128862,"date":"2025-05-08T21:16:00","date_gmt":"2025-05-08T21:16:00","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128862"},"modified":"2025-05-08T21:16:00","modified_gmt":"2025-05-08T21:16:00","slug":"coinbases-deribit-buy-shows-growing-derivatives-market","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128862","title":{"rendered":"Coinbase&#039;s Deribit buy shows growing derivatives market"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCoinbase\u2019s agreement to buy Deribit highlights the increasing importance of financial derivatives for cryptocurrency exchanges, according to industry executives.\u00a0<br \/>\nOn May 8, Coinbase, the US\u2019s largest crypto exchange by trading volume, agreed to acquire crypto derivatives platform Deribit for $2.9 billion in the crypto industry\u2019s largest corporate acquisition to date.\u00a0\u00a0<br \/>\nThe deal reflects increasing competition among digital asset exchanges and brokerages \u2014 including Coinbase, Kraken and Robinhood \u2014 to dominate the burgeoning crypto derivatives market.\u00a0<br \/>\n&#8220;Global derivatives trading is a key driver of growth for Coinbase,\u201d Spencer Yang, co-founder of Fractal Bitcoin, a Bitcoin scaling solution, told Cointelegraph.<br \/>\nCoinbase agreed to buy Deribit on May 8. Source: CoinbaseThe merger established Coinbase as the world\u2019s largest crypto derivatives platform by open interest, the exchange said in a blog post announcing the deal.\u00a0<br \/>\nIn a May 8 X post, Jeff Park, Bitwise\u2019s head of alpha strategies, said Coinbase\u2019s Deribit acquisition \u201cmight be the best &#8216;value&#8217; deal in crypto I&#8217;ve ever seen,\u201d adding the the deal is \u201ca coup for Coinbase.\u201d<br \/>\nIn March, US crypto exchange Kraken agreed to buy NinjaTrader, a futures brokerage, for $1.5 billion.<br \/>\nCoinbase\u2019s international derivatives exchange saw some $10 billion in trading volume on May 8. Source: CoinbaseRelated: Coinbase to acquire options trading platform Deribit for $2.9B<br \/>\nExpanding global footprint<br \/>\nCoinbase already has a global presence in perpetual futures, with roughly $10 billion in daily trading volume as of May 8. It also has a US-based derivatives trading platform listing more than 20 futures contracts.\u00a0<br \/>\nDeribit is the largest crypto options exchange, with about $30 trillion in open interest, according to the blog post.\u00a0<br \/>\nWith this acquisition, Coinbase \u201chas captured all possible regulated and self-regulated derivatives products,\u201d Yang added.<br \/>\nIt also bolstered Coinbase\u2019s presence in the global market, which is still dominated by Binance, the world\u2019s largest crypto exchange by volume.\u00a0Deribit does not serve US-based traders, according to its website.\u00a0<br \/>\n\u201cDeribit is the platform of choice for global traders for Bitcoin and Ethereum options,\u201d Yang said.<br \/>\nFutures contracts are standardized agreements to buy or sell an underlying asset at a future date, often using leverage in a bid to enhance returns.<br \/>\nOptions are contracts granting the right to buy or sell \u2014 \u201ccall\u201d or \u201cput,\u201d in trader parlance \u2014 an underlying asset at a certain price.<br \/>\nMagazine:\u00a0Crypto wanted to overthrow banks, now it\u2019s becoming them in stablecoin fight<a href=\"https:\/\/cointelegraph.com\/news\/coinbase-s-deribit-buy-shows-growing-importance-of-crypto-derivatives?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCoinbase\u2019s agreement to buy Deribit highlights the increasing importance of financial derivatives for cryptocurrency exchanges, according to industry executives.\u00a0 On May 8, Coinbase, the US\u2019s largest crypto exchange&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128862"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128862"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128862\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128862"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}