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Bitcoin and Ether options trading platform Deribit is reportedly working with a financial adviser to explore strategic acquisition alternatives. The platform has received acquisition offers from investors, a Bloomberg report noted.
Deribit has engaged Financial Technology Partners (FT Partners) to help assess bids for the company. FT Partners were initially hired by the firm in 2023 to organize secondary stock sales for existing Deribit investors.
Sources told the publication that the company could be valued at $4 billion to $5 billion or more.
“Over time, we’ve received interest in strategic investments from a variety of parties, which we will not disclose,” a company statement read.
Digital asset behemoth Kraken is among those who showed interest in Deribit; however, it did not make a formal buyout offer. “In brief, Deribit has not been put up for sale.”
The news arrives at a time when Mergers and Acquisitions (M&A) deals in crypto have peaked in recent months. Publicly announced M&A in the crypto sector has surged to $1.2 billion in the last quarter. According to data from Architect Partners, this is a $400 million increase from the previous year.
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On Monday, crypto payments agency MoonPay acquired Solana-based platform Helio for $175 million. Similarly, Coinbase recently acquired BUX Europe Limited (BEU), a Cyprus-based subsidiary of BUX, to expand its European presence.
Deribit Trading Volume Jumped to $1.2 Trillion
Per the company’s report, Deribit saw almost $1.2 trillion in total trading volume in 2024. This includes its array of services such as options, futures and spot trading. Moreover, the total options trading volume went up 99% to $743 billion last year.
CoinMarketCap data shows that Deribit processed nearly $1.14 billion in trading volume over the past 24 hours.
The exchange, launched in 2016 in the Netherlands, formally relocated to Dubai last year, following its license approval from VARA.
The post Deribit Hires Financial Technology Partners to Evaluate Acquisition Options: Report appeared first on Cryptonews.
