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Crypto Exchange Deribit Still in Talks to Be Acquired by Kraken: Source
A second source said U.S.-listed exchange Coinbase has also been kicking the tires of Deribit.
Updated Feb 20, 2025, 10:08 a.m. Published Feb 20, 2025, 10:02 a.m.
What to know:
- The crypto options exchange is still talking to Kraken for being acquired.
- The firm could be valued at over $5 billion, according to a previous report.
Cryptocurrency options exchange Deribit is still talking to Kraken for a potential acquisition, contrary to reports that the U.S. exchange had walked away from a potential deal to buy Deribit, a person familiar with the matter said.
Recent reports also confirmed the crypto options platform was working with FT Partners to assess takeover bids, but Deribit CEO Luuk Strijers ruled out a takeover situation. The firm could be valued at $4 billion- $5 billion or even more, according to Bloomberg.
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A second source said listed U.S. exchange Coinbase (COIN) has also been kicking the tires of Deribit.
Deribit is an appealing takeover target because it’s the overwhelming market-leading exchange for digital asset options trading, which Kraken would be looking to add to its trading offering, Strijers had said in an earlier report.
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Kraken and Deribit declined to comment. Coinbase did not respond to requests for comment by press time
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