Deribit, the world’s largest platform for Bitcoin and Ether options, is suddenly at the center of a storm. Big players want a piece of it, and talks of a potential takeover are getting louder.

The exchange, known for handling jaw-dropping trading volumes, has teamed up with Financial Technology Partners LLC (FT Partners) to see what’s on the table. Sources familiar with the matter say that bids for the entire company are part of the equation, though no official “For Sale” sign has been put up.

Reportedly, FT Partners initially joined the scene in early 2023 to help facilitate stock sales for existing investors. But now, the focus has shifted. Deribit could be valued somewhere between $4 billion and $5 billion—or even more. Kraken, the well-known digital asset exchange, showed interest but decided not to move forward, said a person close to the situation.

“In short, Deribit has not been put up for sale,” the company said in a statement. “Over time, we have received interest in strategic investments from a variety of parties, which we will not disclose.” FT Partners and Kraken refused to comment.

Crypto’s merger frenzy hits full throttle

Deribit isn’t the only crypto firm in the takeover spotlight. The entire industry seems to be in M&A overdrive, especially after Donald Trump’s return to power. According to Architect Partners, publicly disclosed mergers and acquisitions in crypto soared to $1.2 billion in Q4 2024, compared to just $400 million in the same period the previous year.

The domino effect is clear. FalconX, a crypto brokerage, kicked off 2025 with its acquisition of derivatives startup Arbelos Markets. MoonPay, a payments firm, and Chainalysis, a blockchain forensics company, also announced deals early in the year. It’s like everyone woke up after Trump’s election win and decided it was time to make moves.

The reasons are obvious. Trump, once a skeptic of crypto, has completely flipped the script. He’s promised to make America the global epicenter of crypto. His administration has already hinted at removing SEC Chair Gary Gensler, whose crackdown on crypto has been a thorn in the industry’s side.

With Trump’s crypto-friendly officials in place, companies feel emboldened to act. Crypto prices surged after the election, giving CEOs the confidence to pull the trigger on long-discussed deals. The $135 million the crypto industry poured into the 2024 election cycle might be the best investment they’ve ever made.

Deribit’s numbers and global reach

Deribit’s appeal isn’t just hype; the numbers back it up. In 2024, the platform’s total trading volume nearly doubled to $1.2 trillion. Options trading alone accounted for $743 billion, a 99% jump from the previous year.

Options are a big deal in crypto because they let traders hedge their bets without committing to a buy or sell. In a market this volatile, that’s invaluable. And Deribit is the king of this space.

All institutional and qualified investors now operate directly under Deribit FZE in Dubai. Retail investors, meanwhile, continue to work with a Panamanian branch that’s now a broker member of Deribit FZE. Everything ties back to its Dutch parent company, where the business started in 2016, founded by John and Marius Jansen.

Trump’s crypto pivot is the dawn of a new era

Trump pledged to stockpile Bitcoin for a national reserve and push for policies to ensure that all future Bitcoin mining happens on American soil. This has electrified the industry, especially after two years of relentless scrutiny following the FTX meltdown.

Trump’s victory has also put the US back on the map for crypto. Other financial hubs like Singapore, Dubai, and the EU have already established clear regulatory frameworks. The EU’s Markets in Cryptoassets (MiCA) framework will be fully operational by the end of 2024. Until now, the US has lagged behind, relying on what critics call “regulation through enforcement.”

Now, with a friendlier administration in charge, the game has changed. CEOs are less worried about deals being blocked or entire business lines being declared illegal. However, challenges remain. Many crypto companies are privately held, making stock-based deals messy.

Valuations are another sticking point. Companies that raised funds during the 2022 bull market are still tied to inflated numbers that don’t match today’s reality.

Even with these hurdles, the appetite for deals is undeniable. Among the most aggressive is Tether, the stablecoin giant. After reporting a $2.5 billion profit in Q3 2024, the company announced plans to pump over $1 billion into acquisitions by mid-2025.

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Source: https://www.cryptopolitan.com/cryptos-deribit-exchange-is-in-high-demand/