{"id":11697,"date":"2025-05-03T13:19:35","date_gmt":"2025-05-03T11:19:35","guid":{"rendered":"https:\/\/wsj-crypto.com\/?p=11697"},"modified":"2025-05-03T13:19:35","modified_gmt":"2025-05-03T11:19:35","slug":"deribit-sets-sights-on-u-s-growth-with-favorable-crypto-climate-under-trump-administration-financial-times","status":"publish","type":"post","link":"https:\/\/wsj-crypto.com\/index.php\/2025\/05\/03\/deribit-sets-sights-on-u-s-growth-with-favorable-crypto-climate-under-trump-administration-financial-times\/","title":{"rendered":"Deribit Sets Sights on U.S. Growth with Favorable Crypto Climate Under Trump Administration: Financial Times"},"content":{"rendered":"

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Deribit, the globe’s most significant cryptocurrency options exchange, is contemplating an entry into the US market, motivated by what it perceives as a more welcoming regulatory environment under President Donald Trump\u2019s administration, based on a recent report from Financial Times.<\/p>\n

The Dubai-based platform<\/a>, which managed $1.3 trillion in notional volume last year, is \u201cactively reevaluating potential opportunities\u201d in the United States, as stated by CEO Luuk Strijers in an interview<\/a> with the FT.<\/p>\n

He pointed out the \u201crecent transition toward a more favorable regulatory attitude towards crypto in the US\u201d as a significant motivator for the decision.<\/p>\n

Deribit\u2019s prospective strategy to broaden its reach into the US occurs amidst reports that Coinbase is in advanced talks to acquire the platform.<\/p>\n

In a report dated March 21, Bloomberg indicated that both firms have informed regulators in Dubai<\/a>, where Deribit holds its license. If the agreement is concluded, the license would have to be transferred to Coinbase.<\/p>\n

This initiative arises as rivals like Kraken pursue growth in the derivatives sector, with its recent $1.5 billion acquisition<\/a> of NinjaTrader.<\/p>\n

Bitcoin derivatives on Deribit. Source: Deribit<\/em><\/figcaption><\/figure>\n

Report: <\/strong><\/em>Deribit options exchange is reviewing acquisition proposals: Report<\/strong><\/em><\/a><\/p>\n

Crypto companies aim for US expansion<\/h2>\n

Deribit is joining an expanding roster of European and Asian crypto entities investigating possibilities for US expansion.<\/p>\n

This change follows a phase of regulatory antagonism during the Biden administration, following the demise of FTX in late 2022<\/a>.<\/p>\n

That period witnessed a vigorous crackdown from the SEC and DOJ, leading many companies to retreat from US operations. However, the narrative seems to be transforming under Trump, who has promised to \u201cposition the US as the crypto capital<\/a> of the world.\u201d<\/p>\n

Since Trump\u2019s election win, the SEC has withdrawn or paused more than a dozen enforcement actions against crypto firms.<\/p>\n

Additionally, the Department of Justice recently declared the closure of its cryptocurrency enforcement team<\/a>, indicating a milder stance towards the sector.<\/p>\n

Related: <\/strong><\/em>Tether CEO to adopt a \u2018careful\u2019 strategy for US expansion, aiming for larger gains<\/strong><\/em><\/a><\/p>\n

This proactive approach seems to be enhancing confidence across the industry.<\/p>\n

For instance, OKX has unveiled plans to establish<\/a> a US headquarters in San Jose, California, just months after resolving a $504 million case with US regulators.<\/p>\n

On April 28, Nexo, which exited the US at the close of 2022 citing insufficient regulatory clarity<\/a>, disclosed its intention to re-enter the US market<\/a>.<\/p>\n

Switzerland\u2019s Wintermute and Dubai\u2019s DWF Labs are among other prominent crypto entities expressing interest in pursuing US expansion.<\/p>\n

Magazine:\u00a0<\/strong><\/em>ZK-proofs are introducing smart contracts to Bitcoin \u2014 BitcoinOS and Starknet<\/strong><\/em><\/a><\/p>\n