Oct 2, 2026 8:32 PM
Coinbase’s acquisition of Deribit has consolidated a staggering 75% of the crypto options market under one roof. With $31 billion in open interest and a new unified collateral pool for spot, futures, and options, we have effectively created a single point of failure for the entire derivatives ecosystem. This level of institutional centralization is exactly what crypto was designed to avoid. Is this consolidation a necessary evolution or a dangerous step backward? What do you think?
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