Citing people familiar with the matter, Bloomberg reported that crypto derivatives exchange Deribit hired a financial adviser to "review opportunities" after attracting the attention of potential acquirers. The company invited Financial Technology Partners LLC (FT Partners) to participate in the potential deal, and cryptocurrency exchange Kraken has also expressed interest in participating. Bloomberg reported that Kraken is not moving forward with the acquisition and said Deribit could be valued at more than $5 billion. Kraken declined to comment on the matter. After The Block asked for comment, Deribit wrote in a statement: "Deribit has not been listed for sale. Over time, we have received strategic investment interest from various parties, which we will not disclose. As a regular process for business operations, Deribit appointed FT Partners in early 2023 as an advisor for general advisory services and potential secondary market investments."