Coinbase’s Bold Move: Will Deribit Be the Next Crypto Powerhouse?

by

In a development that could only be described as a delightful twist in the ever-turbulent crypto saga, Coinbase, that plucky exchange, finds itself in what the ever-reliable Bloomberg has termed “advanced talks” to acquire Deribit, the reigning monarch of crypto derivatives. Yes, you heard it right—Deribit, the grand bazaar for Bitcoin (BTC) and Ether (ETH) options, may soon be donning the Coinbase crown. 🎩

According to the latest whispers from the hallowed halls of Bloomberg, Coinbase is not merely dabbling in idle chatter but is indeed in “advanced talks” to snatch up Deribit. One can only imagine the boardroom discussions—perhaps over a fine claret—where such momentous decisions are made. 🍷

Coinbase’s Grand Ambitions in the Derivatives Arena

As the crypto industry basks in the warm glow of a more lenient regulatory climate in the US—thanks to the return of Donald Trump to the presidential stage—Coinbase appears to be seizing the moment with all the fervor of a Victorian gentleman at a garden party. The acquisition of Deribit would not merely be a feather in Coinbase’s cap; it would be a veritable peacock plume, significantly enhancing its derivatives platform, which, until now, has been as limited as a teetotaler at a wine tasting. 🍾

Bloomberg, in its usual cryptic fashion, has reported that both Coinbase and Deribit have dutifully informed the regulators in Dubai—where Deribit is licensed—of their tête-à-tête. Should this deal come to fruition, one can only hope that the transfer of Deribit’s Dubai license to Coinbase is as smooth as a well-aged Scotch. 🥃

However, let us not get ahead of ourselves; the final agreement remains as elusive as a cat in a room full of rocking chairs. Should the stars align, this deal, which Bloomberg first hinted at back in January 2025, could be valued at a staggering $4 billion to $5 billion, marking a milestone in the annals of crypto history. 📈

Trump’s Administration: A Catalyst for Crypto Deals

Ah, the Trump administration—a veritable cornucopia of pro-crypto initiatives! Since his return to the Oval Office, President Trump has appointed crypto enthusiasts to key positions, as if he were assembling a dream team for a crypto Olympics. His Executive Order on Digital Assets, which instructs the Presidential Working Group to forge ahead with a Crypto Strategic Reserve, has sent ripples of optimism through the industry. 🌊

In a delightful twist of fate, Coinbase’s rival, Kraken, has also been busy, announcing its acquisition of the retail futures trading platform NinjaTrader for a cool $1.5 billion. This move will allow Kraken to offer crypto futures and derivatives in the US for the very first time—truly a moment to raise a toast! 🥂

Coinbase’s Most Daring Leap into the Derivatives Market

While Coinbase has dabbled in derivatives trading outside the US through a Bermuda-based platform launched in 2023, it has primarily focused on spot trading—much like a cat that prefers to nap in the sun rather than chase after elusive mice. If this deal materializes, it will represent Coinbase’s most audacious leap into the lucrative derivatives market, where trading volumes on Deribit—encompassing options, futures, and spot trading—nearly doubled last year to a staggering $1.2 trillion. 💰

Read More

2025-03-26 14:13