Summary
Deribit is a crypto options and futures exchange founded in 2016 in the Netherlands by John and Marius Jansen, historically operated through a Panama-registered entity and now licensed under Dubai's VARA framework as Deribit FZE. The exchange suffered a $28 million hot wallet compromise on November 1, 2022, covering the loss entirely from its own balance sheet. Coinbase completed the acquisition of Deribit for approximately $2.9 billion on August 14, 2025, making it a subsidiary of a publicly traded, NASDAQ-listed U.S. company.
Connected Entities
1 entities- + 1 more
Timeline(11 events)
2016-06-01
Deribit officially launches, founded by John Jansen, Marius Jansen, and Sebastian Smyczinski, incorporated in the Netherlands.
2020-02-01
Three Arrows Capital acquires an indirect ~16% stake in Deribit via a Singapore SPV.
2022-07-01
Deribit is named among creditors pushing for Three Arrows Capital's liquidation; 3AC owes Deribit approximately $80 million.
2022-11-01
Deribit's hot wallet server is compromised just before midnight UTC; approximately $28 million in BTC, ETH, and USDC is stolen.
2022-11-02
Deribit announces the hack, confirms client assets unaffected, states loss will be covered by balance sheet. Normal on-chain withdrawals resume.
2022-11-05
On-chain analysts observe stolen funds begin moving to Tornado Cash.
2024-04-02
Deribit FZE receives a conditional VASP license from Dubai's VARA — the first derivatives exchange to receive a full market product derivatives license from VARA.
2024-11-29
Deribit announces January 1, 2025 migration of all activities to its Dubai-licensed entity, Deribit FZE.
2025-01-01
Deribit FZE goes live as the primary entity for qualified and institutional investors; retail clients remain under DRB Panama as a broker-member.
2025-05-08
Coinbase announces agreement to acquire Deribit for approximately $2.9 billion ($700 million cash plus 11 million Coinbase Class A shares).
2025-08-14
Coinbase completes acquisition of Deribit, making it a wholly-owned subsidiary of Coinbase Global, Inc.
Decision Log
- hash: H71ZBFVqyviwd7E7cAXnhNV4PXeLPGHmPv8rZHrx48FB
- hash: A5dEreyaX6LssuXfS7Jo4kMtP8UydAQ8cSnzHpriSChG
- hash: HvzoV9cDCsTvY3cpeAfQuUtXJ4h3hCUm4w1oP3d3Q36m
- hash: 3343mTrHeLPHsJb6rZeswjbYWXmMX3K5mq9qYDWqracY
- hash: 92KVJW96v2xeAKsBz7uKUSiuApQVzSDfBM1G8oHjYQTX
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 5/4/2026, 2:54:46 AM
last updated: 6/14/2026, 11:15:53 PM
avoid.net — verified advice for a post-truth world