Options trading platform Deribit has reportedly attracted interest from potential buyers and is working with FT Partners to explore strategic opportunities, Bloomberg News reported Jan. 14, citing sources familiar with the matter.
The platform has seen a meteoric rise in trading activity, with its total trading volume nearly doubling to $1.2 trillion in 2024. As of this year, Deribit has been serving institutional clients directly through its headquartered entity in Dubai, Deribit FZE, while a Panamanian subsidiary handles retail transactions. customers.
The sources said FT Partners, initially retained in early 2023 to arrange secondary share sales for Deribit investors, has expanded its role to include evaluating potential deals for the entire company.
Although Deribit has not officially been put up for sale, the company has acknowledged receiving strategic investment interest from various parties. The company said in a statement:
“Over time, we have received interest in strategic investments from various parties, which we will not disclose.”
Kraken reportedly considered acquiring Deribit but ultimately decided not to pursue it. One source estimates that Deribit’s valuation could be between $4 billion and $5 billion. FT Partners and Kraken declined to comment.
According to CoinGlass data, Deribit had recorded a monthly trading volume of over $26 billion for Bitcoin (BTC) and Ethereum (ETH) options contracts as of January 13.
Increase in mergers and acquisitions movements
Interest in Deribit comes amid a surge in crypto-related mergers and acquisitions (M&A), fueled in part by a post-election rally in digital asset markets.
Publicly announced M&A activity in the crypto sector soared to $1.2 billion in Q4 2024, a sharp increase from $400 million during the same period a year earlier , according to Architect Partners.
Recent deals include crypto brokerage FalconX, the acquisition of derivatives startup Arbelos Markets, and the acquisitions of MoonPay and Chainalysis.
President-elect Donald Trump’s favorable stance towards digital assets has further boosted the sector. He promised to position the United States as a global hub for crypto innovation.
With significant interest from potential buyers and a thriving business model, Deribit is poised to play a central role in the next phase of crypto M&A development.
