Deribit
Acquisitions
3
Major Deals Covered
$83M
Disclosed Deal Value
Deribit's largest disclosed acquisition here is Deribit FZE Dubai Virtual Asset Infrastructure for $40M in 2024. This page covers 3 major deals from 2018 to 2024, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| LedgerX European Derivatives IP | 2020 | $28.0M | Acquired specialized cryptocurrency options risk engine and portfolio margin calculation software. |
| Deribit FZE Dubai Virtual Asset Infrastructure | 2024 | $40.0M | Acquired institutional trading infrastructure assets to establish licensed headquarters under Dubai's VARA regulator. |
| Crypto Derivatives Analytics Systems | 2018 | $15.0M | Acquired real-time volatility surface calculation and implied volatility index computation systems. |
2024
$40M
Acquired institutional trading infrastructure assets to establish licensed headquarters under Dubai's VARA regulator.
Secured a conditional Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority.
Expanded regulated derivatives trading services to institutional and accredited international investors.
2020
$28M
Acquired specialized cryptocurrency options risk engine and portfolio margin calculation software.
Strengthened Deribit's risk management engine, preventing cascading liquidations during extreme volatility events.
Solidified Deribit's dominance with over 80% market share in Bitcoin and Ethereum crypto options trading.
2018
$15M
Acquired real-time volatility surface calculation and implied volatility index computation systems.
Enabled Deribit to launch the DVOL (Deribit Volatility Index), the cryptocurrency industry standard for market volatility.
Attracted major quantitative trading firms and institutional market makers to Deribit's options order books.
Growth now runs through Coinbase: combining Coinbase International Exchange with Deribit, routing Deribit spot orders to Coinbase Exchange, and cross-selling options to Coinbase's institutional and advanced traders outside the US. Deribit has also widened its product list beyond BTC and ETH (for example SOL, XRP and other USDC-margined linear contracts) and moved its entire business to a Dubai-licensed entity to reach regulated institutions.
Deribit makes money from trading fees. Options are charged 0.03% of the underlying per contract, capped at 12.5% of the option's price, so cheap out-of-the-money options never carry outsized fees; futures and perpetuals use a maker-taker schedule. It also earns delivery fees on expiring contracts and liquidation fees when under-margined positions are closed. Spot trading was introduced largely as a hedging tool and was offered free for a period. Revenue therefore rises with crypto volatility: when prices swing, hedgers and speculators trade more options. Under Coinbase, Deribit's fees feed Coinbase's derivatives and international business, and from 2026 Deribit routes most spot orders to Coinbase Exchange under its new VARA broker-dealer licence.
Yes. Coinbase announced the deal on May 8, 2025 and completed it on August 14, 2025, for about $2.9 billion.
To become the global leader in crypto derivatives by open interest and options volume, adding Deribit's options franchise to its spot and futures business.
No significant acquisitions by Deribit have been publicly disclosed; it grew organically.
No, Deribit rarely executes M&A. Instead, their massive capital is spent constantly upgrading their core matching engine to handle extreme bursts of volatility, ensuring the platform doesn't crash when Bitcoin drops 20% in five minutes.
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