Deribit Talks Acquisition with Kraken and Coinbase

Cryptocurrency options exchange Deribit is still in talks with Kraken regarding a potential acquisition, despite earlier reports suggesting that the U.S. exchange had withdrawn from negotiations. A source familiar with the matter confirmed that discussions are ongoing between the two parties.

Deribit, which is currently working with FT Partners to evaluate takeover bids, has been valued at $4 billion to $5 billion or more, according to Bloomberg. However, Deribit CEO Luuk Strijers has previously stated that a takeover is not on the table for the company.

A second source revealed that listed U.S. exchange Coinbase (COIN) has also expressed interest in acquiring Deribit. Deribit's appeal as a takeover target lies in its dominant position as the leading exchange for digital asset options trading, which Kraken would be looking to integrate into its trading offerings.

Both Kraken and Deribit declined to comment on the matter.