Key Notes

Key Notes:

Kraken’s plans to gain majority control of Deribit are still very intact.Other exchanges like Coinbase also reportedly have plans to purchase Deribit.The trading firm is a top options trading platform with a growing user base.

Kraken, a prominent crypto asset manager, is still negotiating to acquire crypto options exchange Deribit. According to CoinDesk, a source familiar with the matter confirmed that both digital currency trading platforms are in talks. This proves that the deal is possible, unlike recent claims that Kraken is no longer interested.

Deribit is a leader in the crypto options trading market. The platform operates in over 160 countries and offers crypto derivatives and options trading.

In 2024, Coinspeaker reported that options trading on Deribit surged to $743 billion, marking a 99% year-on-year growth. This achievement strengthens Deribit’s position as the leading crypto options exchange.

Earlier reports also hint that Deribit has moved its business operations to the United Arab Emirates (UAE). This came after it secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA).

According to sources close to the exchange, it has also been working with FT Partners to consider buyout offers. Bloomberg estimated that the exchange’s valuation could range between $4 billion and $5 billion or even higher.

However, Luuk Strijers, Deribit’s Chief Commercial Officer (CCO), has denied that the company is seeking a full-scale acquisition.

Deribit’s impressive strides in the crypto sector have made it an attractive target for major firms looking to expand their services into the digital currency ecosystem. Kraken has been strengthening its trading offerings and services by listing different memecoins, including Notcoins NOT $0.00311 24h volatility: 11.0% Market cap: $318.44 M Vol. 24h: $74.80 M and Dogs DOGs $0.00019 24h volatility: 8.7% Market cap: $99.68 M Vol. 24h: $20.93 M .

In January 2025, the firm reintroduced Ethereum ETH $2 769 24h volatility: 5.0% Market cap: $333.82 B Vol. 24h: $18.23 B and Bitcoin BTC $96 656 24h volatility: 1.3% Market cap: $1.92 T Vol. 24h: $17.95 B staking offerings to US customers. Beyond these services, the asset manager is looking to offer more trading options, and buying Deribit could help with that.

Strijers had previously acknowledged Kraken’s interest in expanding its product offerings. However, Kraken and Deribit have not publicly commented on the deal.

In addition to Kraken, Coinbase Global Inc. has shown interest in acquiring Deribit. Another source revealed that the U.S.-based exchange has been evaluating a potential deal, though no official statements have been made.

With big companies interested in Deribit, the crypto options brokerage platform remains a valuable asset in the crypto market. Whether the deal will happen is still uncertain.

Meanwhile, this is not the first time a crypto exchange has sought growth through a major deal. In 2022, Coinspeaker reported that FTX Derivatives tried to acquire Voyager Digital before its collapse.

Binance has also made several acquisitions to expand its services in recent times. Earlier in January, Binance bought Sim;paul, becoming the first exchange with a broker-dealer license in the region at the time.

While the monetary value of the Kraken and Bybit remains unknown, experts believe it could mark one of the biggest M&A trends in the market.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

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