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Cryptocurrency Options Exchange Deribit in Acquisition Talks with Kraken and Coinbase

Contrary to Reports, Deribit Remains in Acquisition Talks with Kraken

Cryptocurrency options exchange Deribit is still in talks with Kraken for a potential acquisition, despite reports suggesting that the U.S. exchange had pulled out of a deal to buy Deribit, a source familiar with the matter revealed.

Deribit’s Valuation

Deribit, which is the leading exchange for digital asset options trading, could be valued at $4 billion to $5 billion or more, according to Bloomberg. The exact valuation has not been disclosed, but industry insiders believe that Deribit’s unique offerings and growing user base could lead to a significant valuation.

Other Suitors

A second source confirmed that listed U.S. exchange Coinbase (COIN) has also been exploring the possibility of acquiring Deribit, although the talks are still in the early stages.

Why Deribit is an Attractive Acquisition Target

Deribit’s dominance in the digital asset options market makes it an attractive target for exchanges looking to expand their offerings. By acquiring Deribit, Kraken or Coinbase would gain access to a large and growing user base, as well as a robust platform for trading digital assets.

Conclusion

In conclusion, while there have been reports of Kraken pulling out of a potential deal to acquire Deribit, the exchange remains in talks with the U.S. exchange. Additionally, Coinbase has also been exploring the possibility of acquiring Deribit, which could lead to a significant valuation for the platform. As the cryptocurrency market continues to evolve, it will be interesting to see how these developments play out and what the future holds for Deribit and its potential acquirers.

FAQs

Q: Is Deribit still in talks with Kraken for an acquisition?

A: Yes, despite reports to the contrary, Deribit remains in talks with Kraken for a potential acquisition.

Q: What is Deribit’s valuation?

A: Deribit’s valuation is estimated to be between $4 billion and $5 billion or more, according to Bloomberg.

Q: Is Coinbase also exploring an acquisition of Deribit?

A: Yes, Coinbase has also been exploring the possibility of acquiring Deribit, although the talks are still in the early stages.

Q: Why is Deribit an attractive acquisition target?

A: Deribit’s dominance in the digital asset options market makes it an attractive target for exchanges looking to expand their offerings and gain access to a large and growing user base.

Q: What is the future outlook for Deribit and its potential acquirers?

A: The future outlook for Deribit and its potential acquirers is uncertain, but it will be interesting to see how these developments play out and what the future holds for the cryptocurrency market and the exchanges involved.