Coinbase has closed its purchase of Deribit in a deal reported at $2.9 billion, a move that brings one of the biggest crypto options venues into the fold of a public exchange.

According to Coinbase, the deal was paid with 11 million shares of Class A stock and $700 million in cash. The buy completes terms both firms announced in May and comes as Coinbase pushes its plan to be the “Everything Exchange.”

Deribit Brings Deep Derivatives Volume

Based on reports, Deribit had a record month in July with trading volumes topping $180 billion, and the platform shows almost $60 billion of open interest right now.

That level of derivatives activity is large by any measure, and Coinbase is selling the deal as a way to put spot, futures, perpetuals and options under one roof.

Brian Armstr

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