Coinbase Merges Spot Execution with Deribit After $2.9 Billion Acquisition
Coinbase has integrated Deribit's spot execution orders into its exchange. This change is a direct result of Coinbase's acquisition of Deribit, which closed on August 14, 2025, for $2.9 billion.
The integration allows Deribit users to execute spot trades through Coinbase Exchange, tapping into its order books rather than relying on Deribit's own thinner markets.
This new arrangement has some exceptions: BUIDL, USYC, and USDE are excluded from the routing. Institutional traders using Starbase will see changes surface by September 2026.