Quarterly settlements tend to breed market volatility.
Traders are seemingly shoring up their defenses.
Tokenized real-world assets such as U.S. Treasuries are being increasingly used as collateral on crypto trading venues.
The percentage of block trades via Deribit's RFQ increased to 27.5% this month, reflecting strong institutional demand.
XRP is used by Ripple Labs to power its cross-border payments platform.
Glassnode data shows all wallet cohorts are now accumulating, with options markets pricing in potential upside beyond $200K in June.
Highest OI now sits at the $110K, $120K, and $300K June 27 strikes — showing bullish conviction
One of the world’s largest cryptocurrency exchanges, Coinbase, announced on Thursday that it has agreed to acquire Dubai-based crypto derivatives exchange Deribit, for $2.9 billion, marking the largest deal in the crypto sector to date. Coinbase Expands Global Reach With Deribit The acquisition, announced on Thursday, involves a substantial financial commitment, with $700 million in cash and 11 million shares of Coinbase Class A common stock as part of the deal. The transaction is anticipated to close by the end of the year, a timeline that has already positively impacted Coinbase’s stock, with shares rising more than 5% toward the $206 mark following the announcement. Related Reading: Ethereum ‘Extremely Undervalued Against BTC’ – Supply Pressure May Delay Recovery Greg Tusar, Coinbase’s vice president of institutional product, emphasized the strategic importance of the deal, stating that it enhances Coinbase’s ability to compete with major players like Binance. While Coinbase dominates the US market for cryptocurrency trading, it has historically held a smaller share in the global arena, where a significant portion of trading activity occurs on Binance. Acquisition Highlights Deribit has established itself as a powerhouse in the crypto derivatives space, facilitating over $1 trillion in trading volume last year and boasting approximately $30 billion in current open interest on its platform. “We’re excited to join forces with Coinbase to power a new era in global crypto derivatives,” said Deribit CEO Luuk Strijers in a statement. He highlighted that this acquisition will not only accelerate the growth of both companies but also provide traders with enhanced opportunities across various trading products, including spot, futures, perpetuals, and options, all under the Coinbase brand. Tusar noted that Deribit’s consistent track record of generating positive adjusted EBITDA is a key factor in the acquisition, suggesting that the combined entity will likely see increased profitability. “One of the things we liked most about this deal is that it’s not just a game changer for our international expansion plans — it immediately diversifies our revenue and enhances profitability,” he told CNBC. Related Reading: Cardano Approaches Critical Resistance – Break Above Could Trigger Move To $0.80 This acquisition comes at a time when the cryptocurrency industry is benefiting from a supportive regulatory environment, with President Donald Trump’s administration taking a pro-crypto stance. This regulatory tailwind has fueled an increase in mergers and acquisitions within the sector. For instance, in March, US-based crypto exchange Kraken announced its acquisition of NinjaTrader for $1.5 billion, and last month Ripple Labs agreed to buy prime broker Hidden Road. Featured image from DALL-E, chart from TradingView.com
The acquisition makes Coinbase the largest crypto derivatives platform and a credible rival to Binance.
The deal includes $700 million in cash and 11 million shares of Coinbase Class A common stock.
Earlier today, Coinbase agreed to acquire crypto derivatives exchange Deribit in a record $2.9 billion deal.
A sharp plunge in the Philadelphia Fed manufacturing index coupled with rising prices added to U.S. stagflation fears amid the tariff war.
BTC put bias is strongest since the U.S. regional banking crisis of early 2023, according to one observer.
Puts trade pricier than calls out to the May-end expiry reflecting concerns of a price drop.
Key indicators such as BTc's implied volatility index and funding rates point to subdued volatility expectations.
Consummation of an acquisition would greatly advance Coinbase's push into the crypto derivatives market.
The Fed retained forecast for two rate cuts Wednesday, with Powell calling the inflationary impact of Trump's tariffs transitory.
Traders opt for a more conservative bet, reassessing their expectations in the wake of the recent price sell-off.
The new system, tailored for high-volume traders, enables direct negotiation of block trades with improved efficiency and liquidity.
Sygnum and Deribit are now leveraging crypto custodian Fireblocks' "Off Exchange" service
Most of these are covered calls, Deribit's Asia business development head said.
Over $5 billion of notional value is set to expire this Friday on Deribit at 08:00 UTC.
Clients of BitGo and Copper can now trade spot and derivatives on Deribit while assets are secured off-exchange.
A second source said U.S.-listed exchange Coinbase has also been kicking the tires of Deribit.
Some $6 billion of the notional value in bitcoin is currently set to expire out of the money.
Total trading volume surged 95%, with options accounting for a giant share of the total platform activity.
According to Bloomberg, the Bitcoin and Ether options trading platform may be worth up to $5 billion.
Can this week’s $13.6 billion Bitcoin options expiry trigger a BTC price rally to $100,000 and beyond?
Bitcoin unexpectedly fell under $92,000 on Nov. 25. Do bulls still have a chance to rally to $100,000?
November's expiry is due Friday at 08:00 UTC, with $9.4 billion in options expiry for bitcoin.Bitcoin's max pain price is $78,000, significantly lower than the current spot price. The majority of the put open interest represent hedging activity and not outright downside bets: European Head of Research at Bitwise - Dragosch.