Kraken Still in Talks to Acquire Deribit, Despite Reports It Had Walked Away

Deribit could be valued at over $5B, making it one of the most significant potential acquisitions in the crypto space.

U.S. crypto exchange Kraken is still in talks to acquire Deribit, the world’s largest Bitcoin (BTC) and Ethereum (ETH) options exchange, despite earlier reports suggesting the deal had fallen through.

According to Bloomberg, Deribit could be valued at over $5 billion in the potential acquisition, which would mark one of the largest crypto M&A deals to date.

Per CoinDesk, Kraken is continuing its talks with Deribit, while Coinbase (NASDAQ:COIN) has also expressed interest in a possible deal.

However, Deribit CEO Luuk Strijers has refuted claims that the company is actively for sale.

“Deribit has not been put up for sale… but we have received strategic investment interest from various parties,” Strijers said.

Deribit's crypto options dominance makes it a hot target

Deribit is the clear leader in crypto options trading. The exchange processed nearly $1.2 trillion in total trading volume last year, with options trading alone surging 99% to $743 billion in 2024, according to Deribit's latest figures.

For Kraken, acquiring Deribit would provide an instant entry into the crypto derivatives market, a lucrative space that enables traders to hedge risk with options and futures contracts.

Trump's win fuels crypto M&A boom

On a broader note, Donald Trump's victory in the U.S. election has breathed new life into crypto markets and sparked a surge in mergers and acquisitions (M&A) activity.

According to Architect Partners, crypto-related M&A activity hit $1.2 billion in Q4 2024, up from $400 million a year earlier.

With Kraken, Coinbase, and other major crypto players circling Deribit, investors should monitor cryptocurrency stocks closely on TipRanks.

For instance, what could happen to COIN stock if Coinbase ends up acquiring Deribit?