Deal or Case news
14.05.2025
Our firm advised Coinbase alongside Latham & Watkins on its acquisition of Deribit.

Coinbase is a leading publicly traded cryptocurrency exchange headquartered in the United States. Founded in 2012, Coinbase is now one of the largest and most widely used cryptocurrency exchanges in the world, offering a user-friendly platform for buying, selling, storing, and managing digital assets like bitcoin, ethereum, and many others. Deribit, founded in the Netherlands and now headquartered in Dubai, is a crypto options exchange specialising in options and futures trading for bitcoin and other cryptocurrencies. With a high-capacity matching engine, ultra-low latency, advanced risk management tools, and the deepest liquidity in the crypto options market, Deribit stands out as a leading platform in the industry.

With this milestone transaction, Coinbase significantly advances its derivatives business. This strategic acquisition positions Coinbase as one of the most comprehensive global platforms for crypto derivatives, expanding its footprint in the international market.

The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close by year-end.

Happy to advise Coinbase as Dutch counsel with its strategic acquisition of Deribit, the world's leading crypto options exchange. Coinbase is acquiring Deribit for approximately $2.9 billion in cash and stock. This transformative transaction marks the largest M&A transaction in the digital asset space to date!
Sybren de Beurs, Corporate M&A partner

The team was led by Sybren de Beurs and further consisted of Dirk Panis, Jafar Alhashime, Fleur Terlouw (Corporate M&A), Sophie van Lanschot, Elodie Smits, Simon Houberg (Corporate Notarial), Jasha Sprecher, Erik van Engelenburg (Financial Law), Inger van Dijkman, Pieter de Jong (Employment), Lauren Delleman, Laura Zanting (IP), Jasmijn van Koetsveld, Jurriaan Bos (Competition & FDI), Ramon Pop (Lease), Tom de Smet (Commercial), Siebe Been (Data Protection), Lieuwe Zeldenrust (Litigation), Jade Gieling, Tara Veenendaal (Compliance).

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