Coinbase Said in Advanced Talks to Buy Derivatives Venue Deribit

Coinbase Global Inc. is in advanced discussions to acquire crypto derivatives exchange Deribit, the world’s largest trading platform for Bitcoin and Ether options, according to people with knowledge of the matter.

The companies have notified regulators in Dubai about the discussions as Deribit holds a license there, which would be taken over by any acquirer, some of the people said. Coinbase is the biggest US-based crypto exchange, according to data platform Kaiko.

It wasn’t clear whether Coinbase has reached any final agreement with Deribit, which Bloomberg reported in January could be valued at around $4 billion to $5 ...