According to sources, Coinbase is in advanced discussions to acquire Deribit, the largest crypto derivatives exchange for Bitcoin and Ethereum.
Acquisition Talks
Sources say that the negotiations between Coinbase and Deribit have reached regulators in Dubai, where Deribit holds a license. At present, no final agreement has been reached, and the outcome of the talks remains uncertain. Bloomberg previously reported that Deribit could be valued at $4-5 billion.
Market Impact
The acquisition of Deribit could be one of the most significant deals in the history of the crypto industry. In 2020, trading volume on the platform totaled approximately $1.2 trillion, nearly doubling the figures from the previous year. This makes it an attractive acquisition target amid growing interest in derivatives.
Context and Competition
The acquisition talks come amid changes in regulatory policy associated with the return of Donald Trump to the White House and amid similar deals by competitors. Notably, Kraken recently announced its acquisition of retail futures platform NinjaTrader for $1.5 billion.
While the talks between Coinbase and Deribit are ongoing, the outcome remains unknown. However, the potential acquisition could strengthen Coinbase's position in the derivatives market.
