Deribit, a leading cryptocurrency options exchange specializing in Bitcoin and Ether trading, is reportedly evaluating potential buyout offers as merger and acquisition (M&A) activity surges across the blockchain industry.
According to a January 14 report by Bloomberg, Deribit initially engaged Financial Technology Partners in 2023 to facilitate secondary stock sales for its existing investors. However, the firm’s scope has since expanded to include exploring buyout opportunities. Bloomberg estimated Deribit’s valuation could range between $4 billion and $5 billion.
Deribit clarified to Bloomberg that it is not actively seeking a buyer, stating, “In short, Deribit has not been put up for sale. Over time, we have received interest in strategic investments from a variety of parties, which we will not disclose.”
Kraken Among Interested Parties
While the report mentioned that Kraken has shown interest in Deribit, sources claim the exchange has not made any formal buyout offer.
Deribit, which launched in 2016, is recognized as one of the largest crypto derivatives exchanges globally. It processed approximately $1.4 billion in trading volume over the past 24 hours, with open interest reaching $2.8 billion, according to CoinMarketCap.
The exchange relocated its operations to Dubai in 2024 after acquiring a virtual asset service provider license, reflecting its commitment to regulatory compliance and market expansion.
M&A Activity Heats Up Across Blockchain Industry
The blockchain and cryptocurrency sectors are experiencing a surge in M&A activity, signaling industry maturation as companies consolidate to expand their market presence and achieve economies of scale.
Recent high-profile acquisitions include blockchain analytics firm Chainalysis purchasing AI fraud detection startup Alterya for $150 million. A month earlier, Chainalysis acquired Web3 security company Hexagate to bolster its threat prevention capabilities.
MoonPay, a fiat-to-crypto on-ramp, announced its $175 million acquisition of Helio, a blockchain payment processor, to enhance its payment infrastructure for merchants. Meanwhile, crypto brokerage FalconX acquired derivatives startup Adbelos Markets for an undisclosed sum, further emphasizing the trend of strategic acquisitions in the crypto space.
As the blockchain industry matures, companies like Deribit are becoming prime targets for strategic investments or acquisitions. With its significant market presence and robust trading volumes, Deribit’s evaluation of buyout opportunities reflects broader trends in the sector, where consolidation is shaping the future of crypto and blockchain businesses.
