Kraken and Deribit: The Crypto Love Story No One Saw Coming 🚀

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What to know:

  • The crypto options exchange is still flirting with Kraken for a potential acquisition. 💌
  • The firm could be valued at over $5 billion, which is roughly the GDP of a small island nation. 🏝️

Cryptocurrency options exchange Deribit is still in talks with Kraken for a potential acquisition, contrary to rumors that Kraken had ghosted Deribit like a bad Tinder date. A person familiar with the matter, who probably knows more about this than your average Reddit thread, confirmed this.

Recent reports also confirmed that the crypto options platform was working with FT Partners to assess takeover bids, but Deribit CEO Luuk Strijers ruled out a takeover situation. The firm could be valued at $4 billion- $5 billion or even more, according to Bloomberg, which is a lot of zeros even for a crypto enthusiast.

A second source said listed U.S. exchange Coinbase (COIN) has also been kicking the tires of Deribit, because apparently, everyone wants a piece of the crypto pie. 🥧

Deribit is an appealing takeover target because it’s the overwhelming market-leading exchange for digital asset options trading, which Kraken would be looking to add to its trading offering, Strijers had said in an earlier report. It’s like the popular kid in school everyone wants to be friends with.

Kraken and Deribit declined to comment. Coinbase did not respond to requests for comment by press time, probably because they were too busy counting their Bitcoin. 💰

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2025-02-20 13:14