Deribit CEO Luuk Strijers has confirmed interest from strategic investors while clarifying that the company is not up for sale. Deribit has appointed FT Partners as advisors to evaluate strategic investment opportunities and potential secondary market equity transactions.

Reportedly, cryptocurrency exchange Kraken considered acquiring Deribit but did not make a formal offer. Deribit's valuation is estimated between $4 billion to $5 billion or higher.

The ongoing bull market in the crypto sector is driving mergers and acquisitions, with Moonpay and Chainalysis announcing significant acquisitions this week.