Bloomberg: Coinbase is in deep negotiations on acquisition of derivatives exchange Deribit

PANews March 22nd news, according to Bloomberg, people familiar with the matter revealed that Coinbase Global Inc. is in deep negotiations on the acquisition of crypto derivatives exchange Deribit, the world's largest Bitcoin and Ethereum options trading platform. It is not clear whether Coinbase has reached a final agreement with Deribit.

The two companies have informed Dubai regulators about the negotiations, which any acquirer can take over because Deribit holds a Dubai license. Bloomberg reported in January that Deribit's valuation could be around $4 billion to $5 billion. Deribit was founded in the Netherlands in 2016 by John Jansen and Marius Jansen. The company's early backers include crypto investment firm XBTO and growth equity investor 10T Holdings. Deribit, which offers options, futures and spot trading, nearly doubled its total trading volume last year to nearly $1.2 trillion.