Deribit

Deribit reports a record $50.27 billion in Bitcoin options open interest with over 453,820 active contracts. Popularity of $100,000 strike put options shows active downside protection amid Bitcoin's price fluctuations. Learn how platforms like Bitlet.app can help you navigate such market movements with flexible crypto installment options.

The Federal Reserve's recent rate cut has stirred notable reactions within the crypto industry. Luuk Strijers, CEO of crypto derivatives exchange Deribit, shared insights on how this decision affects the crypto market dynamics.

Coinbase has announced its acquisition of Deribit, valued at $2.9 billion, marking one of the largest deals in cryptocurrency history. This move aims to capture growing institutional interest in crypto derivatives, especially as Bitcoin hits $100,000, supported by favorable U.S. policies. The deal awaits regulatory approval and is expected to close by the year's end.

Coinbase, the leading cryptocurrency exchange, is set to acquire derivatives platform Deribit for $2.9 billion, including cash and shares. This acquisition is a strategic move to enhance Coinbase's market position and expand into the lucrative derivatives sector, promising further access to various trading options. With this move, Coinbase not only strengthens its portfolio but also aligns with the broader pro-cryptocurrency climate.