Deribit CEO Confirms Strategic Investment Inquiries, Rules Out Takeover Report

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What to know:

  • Kraken had weighed an offer for Deribit, but did not proceed with the offer.
  • The firm could be valued at $4 billion- $5 billion or even more, the report said.

According to a report by Bloomberg on Wednesday, it appears that the cryptocurrency derivatives platform, Deribit, may have attracted interest for possible acquisition from unnamed parties.

According to the report, the company is collaborating with Financial Technology Partners for a thorough evaluation of potential opportunities.

In simple terms, Luuk Strijers, CEO of Deribit, shared with CoinDesk that they hired FT Partners to provide counsel on various matters and explore the possibility of secondary transactions, which are expected to take place in 2023.

Strijers pointed out that the appeal of Deribit comes from its consistent position as a dominant player in the market for options trading with digital assets.

Essentially, Deribit is not being offered for purchase. However, there has been an ongoing interest from several sources regarding potential strategic investments, which we choose not to reveal, as mentioned by Strijers.

As an analyst, I’ve come across information suggesting that the valuation of this firm could range from $4 billion to potentially even more than that. Additionally, it was mentioned that Kraken, a prominent crypto exchange, had considered acquiring Deribit, yet no official offer was made in the end.

Kraken did not immediately respond to CoinDesk’s request for comment.

It appears that the ongoing surge in the cryptocurrency market is sparking a resurgence of merger and acquisition (M&A) deals, as evidenced by significant takeovers by companies such as Moonpay and Chainalysis within the past week.

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2025-01-15 09:50