Deribit, Valued at $4-5B, Explores Acquisition Opportunities
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Deribit, the world's largest Bitcoin and Ether options trading platform, is working with Steve McLaughlin and Financial Technology Partners to review potential acquisition opportunities. The platform, valued between $4 billion and $5 billion, has attracted interest from various parties, though crypto exchange Kraken reportedly evaluated but did not proceed with a potential deal.
A Deribit spokesperson clarifies: "In short, Deribit has not been put up for sale. Over time, we have received interest in strategic investments from a variety of parties, which we will not disclose." The company initially engaged FT Partners in early 2023 to facilitate secondary stock sales for existing investors.
The development coincides with increased crypto sector M&A activity, which saw deals worth $1.2 billion in the fourth quarter, up from $400 million the previous year, following the crypto market rally.
If you’re interested in reading a bit about what’s been happening in FinTech, keep scrolling!
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