Deribit attracts buyers for potential acquisition, valuation may exceed $5 billion

Crypto derivatives exchange Deribit has hired a financial advisor to "review opportunities" after attracting the attention of potential acquirers, Bloomberg reported, citing people familiar with the matter. The company invited Financial Technology Partners LLC (FT Partners) to participate in the potential transaction, and cryptocurrency exchange Kraken has also expressed interest in participating. Bloomberg reported that Kraken did not advance the acquisition and said Deribit's valuation could exceed $5 billion. Kraken declined to comment on the matter. After The Block asked for comment, Deribit wrote in a statement: "Deribit has not been listed for sale. Over time, we have received strategic investment interest from various parties, which we will not disclose. As a routine process of business operations, Deribit appointed FT Partners as an advisor for general advisory services and potential secondary market investments in early 2023."