Kraken in Talks to Acquire Majority Stake in Deribit Amid Growing Interest

Kraken, a top cryptocurrency exchange, is actively negotiating to acquire a majority stake in Deribit, a leading crypto options trading platform. Despite speculation, sources confirm discussions are ongoing, underscoring Kraken’s strong interest in the deal.

Deribit dominates the crypto options market, operating in over 160 countries. In 2024, its trading volume surged to $743 billion—nearly double the previous year—solidifying its position as the industry leader. The platform recently expanded into the UAE after securing a Virtual Asset Service Provider license from Dubai’s regulatory authority. Additionally, Deribit has enlisted FT Partners to explore buyout options, with its valuation estimated between $4 billion and $5 billion, possibly higher.

Kraken aims to expand its trading services, recently reintroducing Ethereum and Bitcoin staking for U.S. customers and listing various memecoins. Acquiring Deribit would significantly bolster its derivatives offerings. However, Deribit’s CCO, Luuk Strijers, has denied reports of a full acquisition.

Meanwhile, Coinbase Global (NASDAQ: COIN) is reportedly also eyeing Deribit, adding competition to the potential deal. Though neither Kraken nor Coinbase has made official statements, interest from major exchanges highlights Deribit’s market value.

The crypto industry has seen notable acquisitions as platforms strengthen their market presence. Past deals include FTX’s failed bid for Voyager Digital and Binance’s acquisition of Sim;paul, securing a broker-dealer license.

While financial terms of the Kraken-Deribit deal remain undisclosed, experts suggest it could be one of the most significant M&A transactions in the crypto sector, potentially reshaping the digital asset trading landscape.