According to a report by Bloomberg on March 21, Coinbase is in advanced negotiations to purchase Deribit, a cryptocurrency derivatives exchange.
Acquisition of deribit – the world’s largest trading place for Bitcoin (BTC) and ether (ethereth) Options – Will enhance Coinbase’s existing derivatives platform, which currently focuses on futures.
Coinbase and Deribit have reportedly reminded Dubai regulators of deal negotiations. Deribit holds a license in Dubai and if the transaction is passed, it needs to be transferred to Coinbase, according to Bloomberg cites unnamed sources.
In January, Bloomberg reported that a deal with Coinbase could be valued between $4 billion and $5 billion.
deribit lists options, futures and on-site cryptocurrencies. Bloomberg said its total transaction volume was about $1.2 trillion last year.
On March 20, rival cryptocurrency exchange Kraken announced plans Get derivatives trading platform Ninjatrader About $1.5 billion.
deribit is a popular exchange of crypto derivatives. Source: deribit
Related: Kraken acquires Ninjatrader for $1.5B to provide us with cryptocurrency futures
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Cryptocurrency derivatives (such as futures are the choice) are popular in the United States.
Futures are standardized contracts that allow traders to buy or sell assets on a future date (usually with leverage). An option is a contract awarded to a trader listed “call” or “put” with a certain price as the underlying asset.
Both types of financial derivatives are popular among retail and institutional investors.
Coinbase said in December Derivative trading volume soars Coinbase said that in 2024 it will be about 10,950%.
Coinbase lists about 92 different assets related to its international exchanges, with a smaller number in the United States. according to Annual report to 2024.
In January, Robini Launch cryptocurrency futures As popular online brokers compete with Coinbase doubled.
In February, CME Group, the world’s largest derivatives exchange, said that its average daily trading volume in the fourth quarter of 2024 was about $10 billion, i.e., crypto derivatives ( Increased by more than 300% Starting from the previous year.
Coinbase launches Solana, the first Commodity Futures Commission in the United States, regulated by the United States (sol) February futures. CME Launched its own Sol Futures Contract next month.
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