Kraken negotiates acquisition of Deribit exchange
Deribit and Kraken Continue Acquisition Talks Despite Earlier Reports.
Cryptocurrency options exchange Deribit is still in discussions with Kraken for a potential acquisition, contradicting earlier reports that Kraken had walked away from a deal, a person familiar with the matter said.
Recent developments indicate that Deribit is also evaluating takeover bids with advisory support from FT Partners, while U.S. exchange Coinbase has been reportedly “kicking the tires” on a potential transaction, reports CoinDesk.
Ongoing Negotiations and Valuation Insights
According to Bloomberg, Deribit could be valued between $4 billion and $5 billion—or even higher—making it an attractive target for exchanges looking to bolster their options trading capabilities. Deribit’s market-leading position in digital asset options trading is seen as a strategic asset that would significantly enhance Kraken’s trading portfolio.
Despite these developments, Deribit CEO Luuk Strijers has ruled out that the company is actively pursuing a full takeover, emphasizing instead that discussions are still exploratory in nature.
Strategic Interest from Major Exchanges
The potential acquisition discussions come as Kraken looks to expand its trading offerings, and Coinbase is also reportedly examining the possibility of acquiring Deribit. Both exchanges recognize the strategic value of incorporating a market leader in options trading to strengthen their competitive positions in the rapidly evolving digital asset landscape.
Neither Kraken nor Deribit commented on the ongoing discussions, and Coinbase did not respond to press inquiries. With Deribit’s robust market position and a valuation that reflects its dominance in the crypto options space, industry observers are closely watching these talks as they could signal a major consolidation in the crypto exchange ecosystem.
As acquisition talks continue, market participants remain cautious yet optimistic about the potential benefits of such a deal for both Kraken and Coinbase. A successful acquisition could reshape the competitive dynamics within the digital asset trading arena, providing enhanced liquidity and expanded product offerings for institutional and retail investors alike.
Recently we wrote, that Kraken delists USDT and four other stablecoins in Europe.
