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Coinbase in Talks to Acquire Deribit As Crypto Market Thrives with Eased Regulations
The crypto industry is witnessing a surge of enthusiasm and activity, driven by the Trump administration’s more relaxed regulatory approach. Interestingly, Coinbase (COIN), one of the leading U.S. exchanges, has entered into advanced talks to acquire Deribit, a prominent global derivatives exchange, as revealed by Bloomberg. Notably, both companies have already notified the Dubai regulators, where Deribit is licensed, about these ongoing discussions.
While negotiations are still ongoing, no deal has been finalized yet. If the acquisition goes through, Coinbase would gain control of Deribit’s operating license. Earlier this year, Deribit’s estimated value was between $4 billion and $5 billion. This move would enable Coinbase to expand its existing derivatives platform, currently focusing on futures. In 2024, Deribit witnessed a trading volume of nearly $1.2 trillion, almost double the amount from the previous year.
Coinbase recently announced plans to offer 24/7 futures trading for Bitcoin and Ethereum in an effort to attract more investors to its platform. Coinbase, known for spot trading, aims to expand into the lucrative crypto derivatives market by acquiring Deribit, which is currently the largest platform for trading Bitcoin and Ether options. The ongoing talks align with Kraken’s recent announcement of plans to acquire the derivatives platform NinjaTrader for $1.5 billion, enabling it to offer U.S. crypto derivatives. Additionally, Kraken intends to go public by Q1 2026 as per Bloomberg.
Coinbase Pursues Expansion in Derivatives Business
Coinbase is actively expanding its derivatives business while exploring the acquisition of Deribit. Interestingly, on March 15, it submitted an application with the CFTC to offer futures for Cardano (ADA) and Natural Gas (NGS). If approved, trading could potentially begin by March 31. This comes after launching Solana (SOL) and Hedera (HBAR) futures. Coinbase currently offers derivatives for a staggering 92 assets globally, although limited options are available in the U.S., according to its 2024 report. In January, Robinhood made an entry into the crypto futures arena with the goal of challenging Coinbase’s dominance. Meanwhile, CME Group, the world’s biggest derivatives exchange, experienced a massive 300% surge in crypto derivatives trading, reaching around $10 billion in daily volume during Q4 2024.
Tags: Crypto news Exchange News
Source: https://coinpedia.org/news/coinbase-in-talks-to-acquire-deribit-as-crypto-market-thrives-with-eased-regulations/
