Key Takeaways
- Deribit is reconsidering U.S. entry amid a softer regulatory approach under Trump.
- Coinbase is in acquisition talks with Deribit, potentially requiring a license transfer.
- SEC and DOJ have scaled back enforcement actions following Trump's election win.
Deribit, the world’s largest Bitcoin options exchange, is exploring an entry into the U.S. market, citing a more favorable regulatory landscape under the Trump administration, according to the Financial Times.
The Dubai-based platform processed $1.3 trillion in notional volume in 2023.
CEO’s statement on U.S. opportunities
CEO Luuk Strijers said the company is “actively reassessing potential opportunities” in the United States, attributing the renewed interest to the…
… recent shift toward a more favorable regulatory stance on crypto in the U.S.
Potential acquisition by Coinbase
Deribit’s consideration of U.S. operations comes amid reports that Coinbase is in advanced talks to acquire the platform.
Bloomberg reported on March 21 that both companies have notified regulators in Dubai, and the license would need to be transferred if the acquisition proceeds.
Changing U.S. regulatory climate
The U.S. regulatory climate appears to be loosening since Trump’s return to office.
Over a dozen enforcement actions from the SEC have been dropped or paused, and the Department of Justice has dissolved its cryptocurrency enforcement unit.
Other firms’ U.S. expansion plans
Other firms are making similar moves.
OKX recently announced plans to open a U.S. headquarters in San Jose after resolving a $504 million case.
Nexo, which exited the U.S. in 2022, also revealed plans to reenter the market.
Growing list of firms revisiting U.S. expansion
Deribit now joins a growing list of European and Asian Bitcoin firms — including Wintermute and DWF Labs — revisiting U.S. expansion following the end of a crackdown era triggered by the 2022 collapse of FTX.
