Deribit, the world’s largest crypto options exchange, is evaluating potential entry into the United States market due to a perceived shift in regulatory sentiment under President Trump’s administration. The company’s CEO, Luuk Strijers, confirmed this assessment to the Financial Times. Deribit is weighing its options amidst reports of Coinbase’s advanced negotiations to acquire the platform.
The proposed deal could see Coinbase obtain the necessary licenses for Deribit in Dubai if finalized. This move comes as competitors like Kraken are also aggressively pursuing growth in the derivatives space, recently acquiring NinjaTrader for $1.5 billion.
Deribit’s potential entry into the US market aligns with a broader trend of European and Asian crypto firms seeking to expand operations in the US following regulatory shifts under President Trump. This follows a period marked by regulatory hostility during the Biden administration, particularly after the FTX collapse in late 2022. The shift towards a more favorable stance has boosted industry confidence.
In addition to Deribit and Coinbase, other crypto firms like OKX are establishing US headquarters, while Nexo is reentering the market after previously leaving due to regulatory uncertainty. This positive trend is further fueled by the recent dissolution of the Department of Justice’s cryptocurrency enforcement unit, signaling a more relaxed approach toward the sector.