Options platform Deribit attracts potential buyers amid crypto M&A boom

Options trading platform Deribit has reportedly drawn interest from potential buyers and is working with FT Partners to explore strategic opportunities, Bloomberg News reported on Jan. 14, citing sources familiar with the matter.  

The platform has seen a meteoric rise in trading activity, with its total trading volume nearly doubling to $1.2 trillion in 2024. As of this year, Deribit services institutional clients directly through its Dubai-based entity, Deribit FZE, while a Panamanian subsidiary manages retail clients.  

The sources said that FT Partners, initially retained in early 2023 to arrange secondary stock sales for Deribit’s investors, has expanded its role to include assessing potential bids for the entire firm. 

While Deribit has not officially up for sale, the company acknowledged receiving interest in strategic investments from various parties. The company said in a statement:

“Over time, we have received interest in strategic investments from a variety of parties, which we will not disclose.”

Kraken has reportedly explored acquiring Deribit but ultimately decided not to proceed. One source estimates Deribit’s valuation could range from $4 billion to $5 billion. FT Partners and Kraken declined to comment.

According to CoinGlass data, Deribit had registered over $26 billion in monthly trading volume for Bitcoin (BTC) and Ethereum (ETH) options contracts as of Jan. 13.

Surging M&A moves

The interest in Deribit comes amid a surge in crypto-related mergers and acquisitions (M&A), fueled in part by a post-election rally in digital asset markets. 

Publicly announced M&A activity in the crypto sector climbed to $1.2 billion in the fourth quarter of 2024, a sharp increase from $400 million during the same period a year earlier, according to Architect Partners.  

Recent deals include crypto brokerage FalconX acquiring derivatives startup Arbelos Markets and acquisitions by MoonPay and Chainalysis.  

President-elect Donald Trump’s favorable stance toward digital assets has further buoyed the industry. He has promised to position the US as a global hub for crypto innovation.

With significant interest from potential buyers and a thriving business model, Deribit is poised to play a central role in the next phase of crypto M&A development.

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