Deribit and Kraken Acquisition Talks

Cryptocurrency options exchange Deribit is still in discussions with Kraken regarding a potential acquisition, despite reports suggesting that Kraken had withdrawn from the deal.

Recent updates indicate that Deribit is collaborating with FT Partners to evaluate takeover bids, but CEO Luuk Strijers dismissed the likelihood of a takeover. Deribit’s valuation could be between $4 billion to $5 billion or more, as reported by Bloomberg.

Additionally, reports reveal that Coinbase has shown interest in Deribit as well.

Deribit stands out as a prime acquisition target due to its dominant position in the digital asset options trading market, which aligns with Kraken’s interests in expanding its trading offerings, according to Strijers.

Both Deribit and Kraken have refrained from commenting on the situation, and Coinbase did not provide responses by the time of this report.