Deribit, a crypto derivatives exchange, has engaged Financial Technology Partners LLC to explore strategic opportunities after attracting interest from potential buyers. Despite reports, Deribit clarified it is not officially for sale but has received investment interest from various parties. Kraken, a cryptocurrency exchange, showed interest but did not proceed with an acquisition. Deribit's valuation is estimated to exceed $5 billion.

BlockBeats News, January 15, Bloomberg reported, citing sources familiar with the matter, that the crypto derivatives exchange Deribit has hired a financial advisor to "review opportunities" after attracting potential buyers' attention. The company has invited Financial Technology Partners LLC (FT Partners) to participate in this potential transaction, and cryptocurrency exchange Kraken has also expressed interest. Bloomberg reported that Kraken did not move forward with the acquisition and stated that Deribit's valuation could exceed $5 billion, with Kraken declining to comment on the matter. In response to a request for comment from The Block, Deribit stated in a release: "Deribit has not been listed for sale. Over time, we have received strategic investment interest from various parties, and we will not disclose these interests. As part of the normal course of business operations, Deribit has engaged FT Partners in early 2023 as advisors for general consulting services and potential secondary market investments."

Deribit Explores Strategic Opportunities Amid $5 Billion Valuation