The largest cryptocurrency exchange Deribit received a takeover offer. The Kraken exchange was interested in acquiring the largest platform for trading cryptocurrency derivatives.
The largest cryptocurrency derivatives exchange Deribit has received a takeover offer. Kraken was interested in acquiring the largest platform for trading cryptocurrency derivatives.
The largest cryptocurrency derivatives exchange, Deribit, has received an offer to be acquired, according to Bloomberg, citing anonymous sources. According to the publication, the trading platform could be valued at between $4 billion and $5 billion or more.
Deribit hired Financial Technology Partners in early 2023 to arrange a secondary share sale to the exchange's existing investors, and now the consulting firm's responsibilities also include evaluating bids for the entire company, the sources told reporters. According to them, cryptocurrency exchange Kraken would be interested in buying Deribit.
Kraken and FT Partners declined to comment. Deribit said the platform is not for sale, but is attracting interest from various strategic investors. The platform declined to provide details.
The total trading volume on Deribit, which offers options, futures and spot trading, has nearly doubled in the past year to about $1.2 trillion, according to the company. It recorded a trading volume of $1.15 billion in the past 24 hours, according to CoinGecko.
Options give traders the right to buy or sell an asset at a predetermined price at a specific time, but do not force them to make a trade. In the highly volatile cryptocurrency market, they allow traders to hedge risk.
A Surge in Cryptocurrency M&A Activity Fueled by Trump's Election Victory
The discussions on the sale of Deribit suggest that the rise of cryptocurrencies following the Donald Trump's victory in the US election is spurring M&A activity in the market, Bloomberg posted on Twitter (X).
The number of publicly announced M&A deals in the sector rose to $1.2 billion in the fourth quarter of 2024, up from $400 million a year earlier, according to consulting firm Architect Partners.
Cryptocurrency broker FalconX announced the acquisition of derivatives startup Arbelos Markets in early January. Payment service MoonPay and blockchain analytics platform Chainalysis have also recently made acquisitions.
Deribit was founded in 2016 in the Netherlands. In 2020, the platform left the European Union. The reason for the move was the EU directive requiring crypto platforms to identify their customers. Deribit called this policy unacceptable, as it hinders free trade and entails significant costs. Since then, the platform is based in Panama.
Deribit is one of the most popular trading platforms. The share of visits in 2024 on Deribit averaged 8%. Pakistan ranks first (44%), while the US ranks third (7%).
In an announcement that surprised many, Intesa Sanpaolo, one of Italy's leading banks and among the giants of the European financial sector, announced a significant investment in Bitcoin.
The largest cryptocurrency derivatives exchange Deribit has received a takeover offer. Kraken was interested in acquiring the largest platform for trading cryptocurrency derivatives.
The largest cryptocurrency derivatives exchange, Deribit, has received an offer to be acquired, according to Bloomberg, citing anonymous sources. According to the publication, the trading platform could be valued at between $4 billion and $5 billion or more.
Deribit hired Financial Technology Partners in early 2023 to arrange a secondary share sale to the exchange's existing investors, and now the consulting firm's responsibilities also include evaluating bids for the entire company, the sources told reporters. According to them, cryptocurrency exchange Kraken would be interested in buying Deribit.
Kraken and FT Partners declined to comment. Deribit said the platform is not for sale, but is attracting interest from various strategic investors. The platform declined to provide details.
The total trading volume on Deribit, which offers options, futures and spot trading, has nearly doubled in the past year to about $1.2 trillion, according to the company. It recorded a trading volume of $1.15 billion in the past 24 hours, according to CoinGecko.
Options give traders the right to buy or sell an asset at a predetermined price at a specific time, but do not force them to make a trade. In the highly volatile cryptocurrency market, they allow traders to hedge risk.
A Surge in Cryptocurrency M&A Activity Fueled by Trump's Election Victory
The discussions on the sale of Deribit suggest that the rise of cryptocurrencies following the Donald Trump's victory in the US election is spurring M&A activity in the market, Bloomberg posted on Twitter (X).
The number of publicly announced M&A deals in the sector rose to $1.2 billion in the fourth quarter of 2024, up from $400 million a year earlier, according to consulting firm Architect Partners.
Cryptocurrency broker FalconX announced the acquisition of derivatives startup Arbelos Markets in early January. Payment service MoonPay and blockchain analytics platform Chainalysis have also recently made acquisitions.
Deribit was founded in 2016 in the Netherlands. In 2020, the platform left the European Union. The reason for the move was the EU directive requiring crypto platforms to identify their customers. Deribit called this policy unacceptable, as it hinders free trade and entails significant costs. Since then, the platform is based in Panama.
Deribit is one of the most popular trading platforms. The share of visits in 2024 on Deribit averaged 8%. Pakistan ranks first (44%), while the US ranks third (7%).
Read Next
The 10 Most Wanted Professions on the Web3 for a Successful Career
With the evolution of Web3, the digital world is undergoing a radical transformation.
Intesa Sanpaolo Announces Strategic Investment in Bitcoin
In an announcement that surprised many, Intesa Sanpaolo, one of Italy's leading banks and among the giants of the European financial sector, announced a significant investment in Bitcoin.
Polymarket Opened Bets on Bitcoin's Mention in Trump's Speech. What are the Chances?
Users of the forecasting service estimate the probability that the new US president will talk about cryptocurrency during his inauguration.
Trump's Inauguration 6 Days Before the Event: What is the Future of Cryptocurrencies?
Trump will become the 47th president of the United States and the inauguration will take place in six days.