Deribit, an encrypted derivatives trading platform, sold a 10 per cent stake at a valuation of more than $100m

Deribit, The cryptography derivatives exchange, has sold a 10 per cent stake, valued at more than $100 million, to market maker QCP Capital and cryptography fund Three Arrows Capital, which will hold The majority of The shares while seeking potential investors, The Block reported.

Such trading platforms are known for their "high value", such as the $8bn valuation of BitMEX and the $700m - $1bn valuation of FTX. While Deribit currently dominates the options market, competition is intensifying as players such as Bakkt, CME, FTX and OKEx move into the ecosystem. As a result, some market watchers have called the deal "overvalued", given the view that Deribit's trading volume is insufficient to help it fend off new competitors in the ecosystem.

The following figure shows the data related to Deribit:

Deribit, a formerly netherlands-based crypto-derivatives trading platform, just announced on Jan. 9 that it will operate in Panama under the name DRB Panama inc. from Feb. 10 because of 'very strict' anti-money laundering (AML) rules imposed by the Netherlands on cryptocurrency companies, and will ask users to add KYC information.

原文链接：https://www.theblockcrypto.com/daily/52748/crypto-derivatives-exchange-deribit-sold-10-of-its-equity-at-9-figure-valuation

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