Deribit Engages Financial Adviser Amid Acquisition Interest

Deribit, the crypto derivatives exchange, has engaged Financial Technology Partners LLC (FT Partners) to review strategic opportunities after attracting interest from potential acquirers, as reported by Bloomberg.

The firm’s valuation might exceed $5 billion, and there was significant interest from the crypto exchange Kraken, although discussions did not progress towards an acquisition. Kraken has declined to comment on the situation.

Despite the attention, Deribit clarified that it has not been put up for sale. In a statement, the company mentioned that they have received interest in strategic investments from various parties but would not disclose specifics. FT Partners was appointed in early 2023 for general advisory services and potential secondary market investments.

Deribit leads the digital asset derivatives market, accounting for 73.4% of bitcoin options volume in December, with a peak in November 2024 post the U.S. presidential election. In addition to working with Deribit, FT Partners also assisted Tools for Humanity in raising capital through a token sale.