Deribit Eyes U.S. Expansion Amid Softer Crypto Climate Under Trump Administration

Deribit Considers U.S. Expansion as Trump Administration Signals Softer Crypto Stance

Deribit, the world’s largest crypto options exchange by volume, is actively reassessing a potential entry into the U.S. market, as a friendlier regulatory environment under President Donald Trump reshapes the outlook for digital asset firms.

In an interview with the Financial Times, Deribit CEO Luuk Strijers confirmed that the exchange is exploring new opportunities in the United States. The move is driven by what Strijers described as a “recent shift toward a more favorable regulatory stance on crypto in the U.S.”

Headquartered in Dubai and licensed under local regulators, Deribit processed over $1.3 trillion in notional volume in 2023 alone. Now, with the political climate appearing more supportive of digital assets, the firm is evaluating how best to enter the U.S. market — long viewed as both a lucrative and heavily regulated frontier for crypto finance.

Coinbase Rumored to Acquire Deribit

Deribit’s potential U.S. expansion comes alongside speculation that U.S.-based exchange Coinbase is in advanced talks to acquire the platform. A March report by Bloomberg stated that both companies have already notified Dubai regulators of the potential deal. Should the acquisition go through, Coinbase would inherit Deribit’s license — a strategic move that could accelerate its dominance in the crypto derivatives space.

This would also mark a significant milestone in the consolidation of the crypto trading sector, as exchanges position themselves to capitalize on the shifting regulatory tides.

Trump Administration Reshapes Crypto Sentiment

The broader context behind Deribit’s interest in the U.S. lies in a rapidly changing policy environment. Following Trump’s return to office, his administration has begun reversing several of the strict regulatory actions initiated during President Biden’s tenure.

Since Trump’s election victory, the SEC has either dropped or paused more than a dozen enforcement actions against crypto companies. Meanwhile, the Department of Justice recently dissolved its cryptocurrency enforcement unit — signaling a sharp departure from the aggressive regulatory scrutiny that followed the collapse of FTX in late 2022.

Bitcoin perps on Deribit. Source: Deribit

Trump has pledged to “make the U.S. the crypto capital of the world,” a promise that is resonating with global firms previously deterred by the U.S. regulatory landscape.

Global Crypto Firms Flock to the U.S.

Deribit is not alone in targeting the U.S. market. A number of European and Asian firms have announced plans to expand operations stateside in response to the more accommodating environment:

• OKX, the Seychelles-based exchange, recently unveiled plans for a U.S. headquarters in San Jose, California — just months after settling a $504 million enforcement case.

• Nexo, a crypto lender that exited the U.S. in 2022 citing regulatory uncertainty, has announced its return to the market.

• Wintermute (Switzerland) and DWF Labs (Dubai) have both expressed interest in launching or expanding U.S. operations.

Additionally, Kraken, another major crypto exchange, made headlines with its $1.5 billion acquisition of NinjaTrader, reinforcing its push into the crypto derivatives market.

A New Era for U.S. Crypto Markets?

After years of regulatory clampdowns, the Trump administration’s pro-crypto posture appears to be catalyzing a new wave of investment and expansion across the U.S. digital asset landscape. For Deribit and other global players, this may be a defining moment to secure market share in one of the world’s most important — and now more inviting — financial arenas.