Coinbase acquired Deribit for $2.9 billion on May 8, 2025, to strengthen its foothold in crypto derivatives, while Kraken confirmed a $1.5 billion deal to purchase NinjaTrader to expand its futures trading services

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Coinbase, the biggest crypto exchange in the US by trading volume, on May 8 announced the $2.9 billion acquisition of Deribit, one of the world’s largest crypto derivatives platforms.

Kraken confirmed plans to purchase the derivatives trading platform NinjaTrader to offer futures trading on May 1. The firm previously said it had agreed to acquire NinjaTrader for $1.5 billion.