Coinbase 2025 Updates: What Changed for Crypto Traders This Year

Coinbase Markets has wrapped up 2025 with a wide set of updates across spot, futures, and derivatives trading, pointing to a year focused on access, liquidity, and execution.

The company said its US futures business recorded a year of strong activity, helped by the launch of perpetual-style crypto futures and the introduction of 24/7 trading. These products allowed traders in the US to trade around the clock on both monthly and perpetual contracts, which had not previously been available in this format. Coinbase also expanded its futures lineup to 15 contracts, covering bitcoin, ether, and several major altcoins.

One of the standout figures from the year was open interest. Coinbase reported that US futures open interest passed $1 billion in July and continued to grow through the second half of the year. It also entered equities-linked derivatives for the first time with Mag7 + Crypto Equity Index Futures, which combine exposure to large US technology stocks and crypto assets in a single contract. Looking ahead, the exchange plans to introduce USDC as collateral for futures in 2026 through a partnership with Nodal Clear.

Coinbase 2025 Updates: What Changed for Crypto Traders This Year

Outside the US, Coinbase International Exchange continued to grow its perpetual futures business. During 2025, it added 100 new perpetual markets, taking the total to 199. Traders also gained more flexibility through 42 supported collateral assets and higher leverage limits, which were raised from 20x to 50x. The platform’s open interest crossed $1 billion in June, and in October total open interest across all Coinbase perpetuals and futures reached a peak of $4.8 billion.

A major development came in August, when Coinbase completed its acquisition of Deribit. The options exchange brought a large derivatives user base into the Coinbase ecosystem. By October, Deribit recorded more than $266 billion in monthly notional volume and over $60 billion in open interest, along with new features such as USDC rewards and linear, USDC-settled options.

On the spot side, Coinbase expanded its asset list to more than 350 tokens and rolled out new matching technology, FIX 5.0 connectivity, and cross-margin features to support more active trading. The company said these changes were aimed at improving execution and capital efficiency.

Looking to 2026, Coinbase plans to further connect spot, futures, and options into a single trading experience while adding more indexes, equities-linked products, and new digital assets.

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