Prominent U.S. cryptocurrency exchange Coinbase (COIN) is currently in discussions for a potential acquisition of leading global crypto derivatives platform Deribit.
Reports indicate that both companies have informed regulators in Dubai, where Deribit operates under a license, about these negotiations.
Earlier this year, alongside speculation regarding Kraken’s interest in acquiring the platform, it was mentioned that Deribit might be worth between $4 billion and $5 billion.
While Coinbase is primarily recognized for its spot trading activities, acquiring Deribit would represent a significant move into the lucrative crypto derivatives sector, which is projected to achieve a trading volume of nearly $1.2 trillion in 2024—an amount that nearly doubles the trading volume of the previous year.