Crypto Exchange Deribit in Ongoing Acquisition Talks with Kraken

Deribit, the leading cryptocurrency options exchange, is actively discussing a potential acquisition by Kraken, contrary to earlier reports suggesting that Kraken had withdrawn from negotiations.

Key Highlights:

• The current valuation of Deribit could exceed $5 billion based on prior assessments.
• A second source mentioned that U.S. exchange Coinbase has also expressed interest in acquiring Deribit.

Cryptocurrency options platform Deribit remains in talks with Kraken concerning a potential acquisition, despite preliminary indications that Kraken might have stepped back from such negotiations, according to an unnamed insider.

Earlier reports have highlighted that Deribit was collaborating with FT Partners to evaluate takeover proposals, although CEO Luuk Strijers previously indicated that a full acquisition was not under consideration. The estimated value of Deribit ranges between $4 billion and $5 billion, according to Bloomberg.

Furthermore, Deribit is regarded as a prime target for acquisition due to its dominant position in the digital asset options market, a segment Kraken is eager to penetrate, based on earlier statements from Strijers.

Both Kraken and Deribit chose not to comment on the matter, while Coinbase has yet to provide a response to inquiries regarding their interest.