It is said that Coinbase is in intense negotiations to procure Deribit, a leading crypto derivatives exchange, which indicates a considerable thrust into the profitable derivatives market. This action arises as rivalry intensifies among crypto platforms based in the US.
Although Robinhood has been commended for its swift product creation, Coinbase has gained from escalating trading quantities and advantageous US crypto regulations. Deribit, which managed almost $1.2 trillion in trading quantity the previous year, specializes in options and futures.
Kraken, in the meantime, is adopting a distinct tactic, having procured conventional futures broker NinjaTrader for $1.5 billion. Robinhood’s procurement of Bitstamp, with its comprehensive token listings and robust institutional connections, positions it to broaden into global derivatives and staking. SHIB Burns Increase by 771,019%
Experts at Bernstein observe that Coinbase continues to be a commanding platform, forecasting prospective US authorization for perpetual futures and other novel trading products. Procuring Deribit would furnish Coinbase with vital permits and hasten its access into options trading, heightening rivalry with adversaries such as Robinhood and Kraken.
Deribit, authorized in Dubai, is the globe’s biggest platform for Bitcoin and Ether options trading and is assessed at between $4 billion and $5 billion. This procurement would permit Kraken to obtain a CFTC registration permit, preparing for providing cryptocurrency futures in the United States.
