The prominent Chinese crypto news outlet Wu Blockchain disclosed earlier today that major players Coinbase and Bybit are reportedly in discussions regarding a potential investment partnership.

While detailed information remains scarce and no official statements have been made by either company, sources suggest that Bybit’s valuation may align with OKX following its recent funding activities.

Exclusive: Coinbase, the leading cryptocurrency exchange in the U.S., is in talks with Bybit, the world’s second-largest offshore exchange, for an investment partnership. Bybit is eager to leverage this opportunity to gain access to the compliant U.S. market.
(Translation: Coinbase, the largest cryptocurrency exchange in the U.S., is in talks with Bybit for a partnership which would allow Bybit to enter the U.S. market.)

According to three sources who confirmed the news, this collaboration could facilitate Bybit’s entry into the compliant U.S. sector, following notable collaborations within the cryptocurrency market, including Coinbase’s acquisition of the derivatives giant Deribit.

In a separate development, OKX has recently secured significant backing from the Intercontinental Exchange, which has acquired a minority stake in the cryptocurrency exchange, elevating its valuation to approximately $25 billion after the latest funding round.

As reported by Wu Blockchain, Bybit is expected to achieve a comparable valuation to OKX, placing it around $25 billion.

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Data from CoinMarketCap and CoinGecko ranks Coinbase, OKX, and Bybit among the top five trading platforms based on trust scores.