Deribit Eyeing US Expansion Amid Improving Crypto Regulatory Climate Under Trump Administration

Deribit, the largest crypto options exchange globally, is contemplating penetration into the US market. This idea draws inspiration from the perceived friendlier regulatory environment under President Donald Trump’s administration. Last year, Deribit processed a whopping $1.3 trillion in notional volume. The exchange, situated in Dubai, is now keenly reassessing potential avenues in the United States.
Luuk Strijers on US Expansion
CEO Luuk Strijers recently reported that the shift towards a more favorable regulatory view on crypto in the US is a significant motivator behind the proposed expansion. The changing narrative on cryptocurrencies under Trump, who has promised to transform the US into the crypto capital of the world, has rejuvenated industry confidence. The Securities and Exchange Commission (SEC) has since dropped or paused several enforcement cases concerning crypto organizations. Furthermore, the Department of Justice has made the unprecedented move of dissolving its cryptocurrency enforcement unit. This decision, seen by many as a softer approach to the sector, could further boost the growth and development of crypto industries.
Deribit’s Merger Talks with Coinbase
These development plans coincide with the news that Coinbase and Deribit are in advanced merger talks. Both companies have already informed regulators in Dubai, Deribit’s current home, about the potential agreement. If the deal goes through, the license would have to change hands to Coinbase. All this happens as rival companies, like Kraken, also seek to broaden their reach in the derivatives space. Recently, Kraken acquired NinjaTrader for $1.5 billion, marking a significant milestone in the industry.
Increasing Interest in US Expansion
Deribit isn’t the only one – a growing number of European and Asian crypto firms are beginning to consider expanding into the US. This shift occurred after a phase of regulatory hostility during the Biden administration, which witnessed the downfall of FTX in late 2022. This period exposed crypto firms to an aggressive crackdown from the SEC and the Department of Justice, causing many institutions to retreat from operating in the US. However, under Trump’s administration, the narrative changed significantly. OKX recently revealed its intention to establish a US headquarter in San Jose, California, not long after settling a substantial $504 million case with US authorities. Nexo, which left the US at the end of 2022 due to unclear regulations, announced that it was re-entering the US market on April 28. Also expressing interest in exploring US expansion are Switzerland-based Wintermute and Dubai’s DWF Labs – other significant players in the crypto industry. The journey towards making the US a crypto-genial environment has only just begun, and it is promising to be an exciting journey.

Deribit Eyeing US Expansion Amid Improving Crypto Regulatory Climate Under Trump Administration

Luuk Strijers on US Expansion

Deribit’s Merger Talks with Coinbase

Increasing Interest in US Expansion

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