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Deribit, a leading cryptocurrency options exchange, is exploring buyout offers amid increasing merger activity in the blockchain sector. The exchange, valued between $4 billion and $5 billion, has engaged Financial Technology Partners to assist in evaluating these opportunities, although it has not officially been put up for sale. With a trading volume of nearly $1.4 billion in the last 24 hours and open interest at $2.8 billion, Deribit has solidified its position in the market, especially after relocating to Dubai in 2024.
Bitcoin's price fluctuated around $93,000 following a stronger-than-expected U.S. jobs report, which raised inflation concerns and diminished hopes for imminent interest rate cuts. The labor market's strength, with 256,000 jobs added in December, has led to increased volatility in crypto markets, reflecting a tighter correlation with traditional assets amid shifting economic policies.
Crypto brokerage FalconX has acquired derivatives platform Arbelos Markets, enhancing its offerings for institutional clients. The deal, confirmed by CEO Raghu Yarlagadda, is expected to be financed through a mix of stock and cash, positioning FalconX for future growth in the crypto derivatives market. Founded in 2018, FalconX claims to be the largest crypto prime brokerage, while Arbelos was launched in 2023 by former bankers Joshua Lim and Shiliang Tang.
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Deribit explores buyout offers amid rising blockchain merger activity
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bitcoin price fluctuates amid rising inflation concerns and strong job growth
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falconx acquires arbelos markets to enhance crypto derivatives offerings
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