Deribit, famous cryptocurrency options exchange, is still in negotiations for its potential acquisition by Kraken. Coinbase also seems interested. Bloomberg stated that the valuation for Deribit could be between 4 and 5 billion dollars, if not more.
Deribit and the ongoing negotiation with Kraken for its potential acquisition
Deribit, leading platform for crypto derivatives trading, might soon be acquired by another company.
To say it is Coindesk, which states that the famous crypto-exchange Kraken is in talks to acquire Deribit. At the moment, however, there are no official statements, only rumors from sources familiar with the companies in question.
On one hand, Kraken itself has expressed openness to adding the trading of options on digital assets to its trading offerings, therefore its interest in Deribit could be a reality.
On the other hand, Coindesk has denied another rumor reported by other sources that claimed Kraken would move away from the acquisition of Deribit.
Having said that, Bloomberg stepped in to release its estimate on Deribit’s valuation. The company could be worth between 4 and 5 billion dollars, if not even more.
Another source, then, seems to have involved also Coinbase in the matter. In practice, the publicly traded exchange might also be interested in acquiring Deribit.
Deribit and the importance of Bitcoin futures
Last November, after Trump won the US presidential elections, there was talk about the Bitcoin (BTC) futures on Deribit, which had surpassed the symbolic barrier of $100,000.
In practice, the futures contracts expiring in March, June, and September 2025 are traded above that threshold, sparking enthusiasm among investors and analysts.
Futures are derivative instruments that allow investors to buy or sell an underlying asset (in this case BTC) at a predefined price on a future date.
Thanks to these instruments, investors can hedge against risk, speculate on price changes, and gain exposure to the asset without purchasing it directly.
The news that the BTC futures on Deribit expiring in 2025 had surpassed at that moment $100,000, demonstrated a strong investor confidence in the future growth of bitcoin.
The licenses in EU and UK of Kraken and Coinbase
Speaking of the two potential buyers of Deribit, Kraken and Coinbase, it seems that both have managed to obtain new important licenses for their activities in the United Kingdom (UK) and European Union (EU).
In fact, Kraken has obtained the MiFID license (Markets in Financial Instruments Directive), which allows it to offer crypto derivatives in EU markets. Thanks to this approval, Kraken will now be able to meet the increasing demand for crypto-related derivative instruments from traders and institutional investors.
At the same time, Coinbase has instead received the registration as a Virtual Asset Service Provider (VASP) from the Financial Conduct Authority (FCA) of the United Kingdom.
Now, Coinbase can finally offer its crypto and fiat services to the British market.
