Known as one of the biggest crypto options trading platforms, Deribit, is drawing attention from investors. According to unnamed sources mentioned in a Bloomberg report, Deribit has already appointed a financial consultant to find the most advantageous acquisition opportunity. Although Deribit has been exploring potential mergers and acquisitions (M&A), it hasn’t publicly confirmed that it intends to be sold.
The Deribit Attractiveness as an Exchange
According to Bloomberg’s report, the crypto exchange is currently discussing a deal with Financial Technology Partners LLC, who were initially brought on board to advise on the trading firm’s secondary stock sale proposition for existing investors. However, sources suggest that Financial Technology Partners’ role has since grown to encompass the entire negotiation process.
Regarding the anonymity of the involved parties, the sources haven’t revealed which companies have made offers as of now. Previously, Kraken Exchange had expressed interest in the platform, but that interest didn’t lead to any concrete results.
According to the Bloomberg report, Deribit is estimated to be valued between $4 billion and $5 billion. Given that it manages approximately $1.2 trillion in option, future, and spot trading volumes in the year 2024, this valuation seems reasonable.
Deribit operates as an international exchange, catering to a wide range of clients and boasting an energetic user community. The company’s institutional and accredited investors are overseen by Deribit FZE, which is based in Dubai. On the other hand, retail investors can interact with Deribit through its Panama-based platform. On a broader level, the parent company of Deribit is officially registered in the Netherlands.
Crypto Mergers and Acquisitions
As a crypto investor, I’m excited about the incoming Trump administration because it seems to bring regulatory clarity in the U.S., which has sparked optimism for potential mergers and acquisitions. Additionally, with the implementation of the Markets In Crypto Assets (MiCA) regulation, the crypto ecosystem now has a clear understanding of compliance requirements, making it easier for businesses to operate within the law.
As reported by Architect Partners, M&A deals exceeded a value of $1.2 billion last year, surpassing the $400 million achieved during the same period in 2023. This growth was further underscored by merger discussions involving Moonpay and Helio towards the end of December 2024, reflecting a positive outlook in the market.
This week, the Moonpay transaction was officially completed for a total of $175 million. In addition to Moonpay, Chainalysis has purchased the security firm Alterya to strengthen their presence within the realm of blockchain intelligence.
Expectation From Donald Trump
Cryptocurrency enthusiasts anticipate significant changes in the U.S. digital asset sector, given the political climate. The appointment of a Crypto Advisor, David Sacks, by the President-elect, reflects his supportive stance towards cryptocurrencies and indicates his intention to influence policy within this industry.
Some of the President’s appointments for important roles lean towards being crypto supporters, suggesting that his next term might deviate from past norms. Interestingly, David Sacks will be hosting the inaugural Cryptocurrency Gala at the White House.
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2025-01-15 07:38