Coinbase Aims to Buy Largest Crypto Derivatives Platform Deribit ⋆ ZyCrypto
The post Coinbase Aims to Buy Largest Crypto Derivatives Platform Deribit ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     According to anonymous sources, Coinbase intends to buy Dubai-based derivatives platform Deribit. This has prompted Coinbase to discuss the possible takeover with regulators. Coinbase currently runs a Bermuda-based derivatives platform, launched in 2023, but it still operates predominantly as an exchange. Coinbase’s customers mainly use the exchange for spot trading but have started to branch out to other services. Deribit holds an operational license in Dubai, so Coinbase has to seek out regulators in the country before initiating takeover procedures. The anonymous sources who broke the story are working with Bloomberg News. The anonymous sources may be Coinbase employees or could be connected to the regulatory process in Dubai. Coinbase, a publicly listed company, operates the largest crypto exchange in America, sells hundreds of thousands of digital tokens, and offers an Ethereum-based wallet to allow clients to safeguard their tokens while accessing popular exchanges. The company has expanded rapidly, with various departments operating within the organization. Coinbase announced that 1,000 American jobs would be created at the White House summit. Kraken, a rival exchange, has already started the process of buying futures platform NinjaTrader, worth around $1.5 billion. This would be the first time a crypto company was allowed to sell crypto derivatives in America. Deribit’s founders, John Jansen and Marius Jansen, created the exchange in 2016. Initially based in the Netherlands, it attracted many early crypto investors. In January this year, a spokesperson for Deribit said the company was still not for sale but was in talks with various investors at the time. Deribit did not name the investors who were interested in the company. Advertisement   As the U.S. embraces the crypto business under Trump’s new administration, American exchanges may see this as a rare opportunity to expand their operations. Trump has dramatically escalated government…
Filed under: News - @ March 23, 2025 7:23 am