Leading U.S. crypto exchange Coinbase (COIN) is in advanced acquisition talks with leading global crypto derivatives exchange Deribit, reports Bloomberg.
According to the story, the companies have notified Dubai regulators (where Deribit is licensed) about the discussions.
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Bloomberg earlier this year — alongside rumors that Kraken was discussing an acquisition — reported Deribit could be valued in the area of $4 billion to $5 billion.
Mostly known for its spot trading business, Coinbase (COIN) would be making a big push into the highly profitable crypto derivatives market with a purchase of Deribit, which say trading volume in 2024 of nearly $1.2 trillion — almost double that of the year prior.
