Deribit Eyes US Expansion Under Trump

Deribit Weighs US Market Entry

Deribit, the world's largest crypto options exchange ($1.3 trillion in notional volume in 2023), is exploring a US expansion. This move is driven by a perceived shift towards a more favorable regulatory climate under President Trump's administration, as reported by the Financial Times. CEO Luuk Strijers confirmed Deribit is "actively reassessing potential opportunities" in the US.

US Regulatory Shift and Market Dynamics

The potential expansion follows reports of Coinbase's advanced negotiations to acquire Deribit. Bloomberg reported that both companies notified Dubai regulators (Deribit's current licensing location) in March 2024. This acquisition, if finalized, would require a license transfer to Coinbase.

This strategic move by Deribit comes as other major players like Kraken (following its $1.5 billion acquisition of NinjaTrader) aggressively pursue growth in the US derivatives market. This heightened activity highlights the increasing attractiveness of the US crypto market.

Increased Confidence in US Crypto Market

Deribit's consideration isn't isolated. Numerous European and Asian crypto firms are eyeing US expansion. This shift follows a period of regulatory uncertainty under the previous administration, marked by the collapse of FTX and aggressive enforcement actions from the SEC and DOJ. However, under the Trump administration, there's been a notable shift in approach, including the reported dissolution of the DOJ's cryptocurrency enforcement unit and a decrease in SEC enforcement cases against crypto companies.

President Trump's stated intention to "make the US the crypto capital of the world" appears to be boosting industry confidence. Several firms illustrate this trend: OKX has established a US headquarters; Nexo, after previously leaving due to regulatory uncertainty, has announced its return; and others like Wintermute and DWF Labs are exploring similar opportunities.

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