Deribit, the world's largest crypto options exchange, is contemplating expanding its operations into the US market due to changes in regulatory policies.
Reasons for Deribit's US Market Entry
CEO of Deribit, Luuk Strijers, expressed the reasons behind the exchange’s interest in entering the US market. He believes that the US is becoming more supportive of the crypto industry following recent changes in regulations.
These new rules come as a response to the challenges faced by crypto firms in the country, with the Trump administration promising to make the US the ‘crypto capital of the world’. The regulatory environment has shifted, with the SEC pausing or dropping several enforcement actions against crypto companies.
Potential Deribit Deal with Coinbase
Reports indicate that Deribit is in discussions with Coinbase, a leading US-based exchange, regarding a potential acquisition. Should the deal materialize, Coinbase would need to transfer Deribit’s operating license to the US, potentially solidifying its stance in the global crypto market.
This potential deal illustrates the increasing interest in the crypto derivatives market, which is becoming more competitive.
Increasing Confidence in the US Market
Deribit’s interest in entering the US market reflects a broader trend, as the regulatory shifts are positively affecting the industry. Companies that once exited the US due to regulatory uncertainty are now reconsidering their strategies.
For example, OKX has announced plans to establish a US headquarters, and Nexo, which exited in 2022, is returning to the market due to more favorable conditions.
Overall, Deribit’s potential expansion into the US highlights a significant shift within the crypto industry that may lead to a resurgence of confidence in the US market among crypto companies.
