Cryptocurrency options exchange Deribit is continuing talks with Kraken over a potential acquisition, despite reports suggesting the US-based exchange has backed out of the deal.
Deribit Still in Acquisition Talks with Kraken; Coinbase Also Exploring Deal
Additionally, a second source revealed that public US crypto exchange Coinbase (COIN) is also exploring the possibility of acquiring Deribit.
Recent reports have confirmed that Deribit has engaged investment bank FT Partners to evaluate takeover bids.
While speculation has swirled around a potential sale, Deribit CEO Luuk Strijers recently dismissed the idea of a full takeover. The company could be valued at between $4 billion and $5 billion, or even higher, according to Bloomberg.
Deribit, which dominates the digital asset options market, presents an attractive acquisition target for major exchanges such as Kraken and Coinbase, both of which could benefit from expanding their derivatives trading offerings.
Kraken and Deribit declined to comment on ongoing talks, while Coinbase did not respond to requests for comment.
*This is not investment advice.
