Coinbase, America’s biggest cryptocurrency exchange, is reportedly close to buying Deribit, a major derivatives platform.
A Big Deal Brewing
Bloomberg reports that advanced talks are underway. Deribit is a big player, handling the most Bitcoin and Ethereum options trades of any centralized platform. Both companies have reportedly let Dubai regulators know, as Deribit is licensed there. Whoever buys Deribit gets that license too.
The Price Tag?
While the specifics are under wraps, Bloomberg previously estimated Deribit’s value at between $4 and $5 billion. Neither company is commenting publicly.
Similar Moves in the Crypto World
This isn’t the only recent big crypto acquisition. Kraken, the second-largest US crypto exchange, recently bought NinjaTrader, a futures trading platform. Kraken called it the biggest deal ever between traditional finance and crypto. They see it as a step towards a more integrated, always-on trading system.
Disclaimer: This information is for general knowledge only and is not financial advice. Always do your research before investing in cryptocurrencies.
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