Deribit in Talks with Kraken for Potential Acquisition
Recent developments in the cryptocurrency market have revealed that Deribit, a leading cryptocurrency options exchange, remains in discussions with Kraken regarding a potential acquisition. This comes despite earlier reports suggesting that Kraken had backed away from the deal. According to a reliable source, talks between the two firms are still ongoing.
In addition to Kraken’s interest, it has been reported that Deribit is collaborating with FT Partners to evaluate potential takeover offers. However, the CEO of Deribit, Luuk Strijers, has publicly dismissed the notion of a takeover, indicating that the firm is not actively seeking acquisition at this time. Current estimates suggest that Deribit could be valued between $4 billion and $5 billion, or potentially even higher, as noted by Bloomberg.
Another source has indicated that the publicly listed U.S. exchange, Coinbase (COIN), has also shown interest in exploring the possibility of acquiring Deribit. This heightened interest in Deribit is largely due to its dominant position in the digital asset options trading market, making it a highly attractive target for exchanges like Kraken that are looking to expand their trading offerings.
As of now, both Kraken and Deribit have opted not to comment on the ongoing discussions. Meanwhile, Coinbase has yet to respond to requests for comment as of the time of this report.
