Crypto Chronicles:Reports

1-Coinbase in ‘advanced’ Deribit acquisition discussions

Dubai authorities, where Deribit is regulated, have been apprised of the discussions, but no agreement has been reached.

Deribit dominates the crypto options market and was valued at $4–5 billion early this year. In 2024, the platform traded approximately $1.2 trillion, nearly tripling its activity.

Since Coinbase is best known for spot trading, this acquisition would boost its derivatives presence, matching with its growth goal.

Following speculations that Kraken considered buying Deribit, the deal is possible. Following the debut of derivatives trading for U.S. retail customers and a license to sell crypto futures, Coinbase has been expanding its derivatives services.

Securing Deribit might provide Coinbase a competitive edge in the derivatives market, which accounts for a large percentage of crypto trading volumes.

Although discussions have proceeded, Bloomberg noted that it is uncertain whether the two corporations would achieve an agreement.

2-Ethereum whales buy dip, amass $236m in 72 hours

Ethereum struggles below $2,000 despite current sell-off pressure.

However, whales—big investors with significant ETH holdings—are unmoved.

Large holders have bought the world's biggest altcoin by market cap, according to on-chain statistics.

On March 21, crypto expert Ali Martinez posted a graphic illustrating whale ETH accumulation increase. The researcher said whales bought over 120,000 Ether tokens worth approximately $236 million in three days after Ethereum's price dropped from over $2,000.

3-Crypto businesses want banking licenses. Discovering banks' expanding relationship with crypto platforms

Crypto platforms and banks have overlapped since many individuals may keep their money, increase wealth via yield mining or staking, or acquire crypto loans. Crypto platforms resemble banks in areas with a large unbanked population and smartphones.

Being a de facto bank is distinct from being licensed as a state or national bank. See how crypto platforms seeking bank status fare. These firms stand a better chance of becoming banks since the U.S. become pro-crypto. Crypto isn't banned by current regulations. Reuters quotes attorneys acknowledging that cautious crypto businesses are showing more interest in fresh chances.

SmartBiz bought Centrust Bank, becoming the first fintech business to gain a bank charter since 2021, suggesting a trend.

This month, the Office of the Comptroller of the Currency allowed banks to conduct stablecoin operations, crypto custody, and other cryptocurrency-related activities.

Companies want bank status to improve their legitimacy. It may attract new individual and corporate customers since banks are more trustworthy and familiar than cryptocurrency ecosystems. It offers new doors and lets organizations grow significantly. Bank charters require extra examination, but also provide firms a more reputable image that helps them grow.

The second reason is that bank laws bring crypto out of the gray zone, allowing enterprises a clearer regulatory framework and the confidence to implement their strategy.

Getting a bank charter gives you immediate access to customer money. Crypto firms must borrow and pay significant costs without it. Company activities and growth may be less controlled by customer deposits.

References

https://crypto.news/coinbase-in-advanced-talks-to-acquire-deribit-report/

https://crypto.news/ethereum-whales-buy-the-dip-accumulate-236m-eth-in-72-hours/

https://crypto.news/exploring-the-growing-intersection-of-banks-and-crypto/