Schlagwort: crypto business

• Targeted at hedge funds, family offices, and high-net-worth investors, the symposium brought together Bybit’s top institutional clients.
• The agenda featured actionable insights on macroeconomic trends and in-depth sessions on Bybit’s institutional-grade offerings.
• The event underscored Bybit’s commitment to connecting traditional finance with the digital asset ecosystem.

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, concluded TOKEN2049 Week with its flagship Institutional (INS) Symposium—an exclusive, invite-only event aimed at strengthening collaboration and innovation within the institutional crypto space.

Targeted at hedge funds, family offices, and high-net-worth investors, the symposium brought together Bybit’s top institutional clients and ecosystem partners for a day of strategic dialogue under the theme Bridges of the World.

The event underscored Bybit’s commitment to connecting traditional finance with the digital asset ecosystem and fostering inclusive, forward-looking financial growth.

The agenda featured actionable insights on macroeconomic trends and in-depth sessions on Bybit’s institutional-grade offerings.

Attendees explored partnership opportunities across several strategic areas, including advanced derivatives, unified loan account, API infrastructure, custody solutions, as well as stronger security and wallet solutions.

Shunyet Jan, Head of Institutional and Derivatives at Bybit, said:

Bybit’s 100% growth in institutional clients in 2024, surpassing 2,000 active entities, reflects the growing trust in our platform. This momentum is strengthened by strategic partnerships, including our collaboration with Zodia Custody for off-venue settlement solutions, responding to industry security concerns. Alongside partners like Fireblocks and Copper, we continue to ensure secure, institutional-grade custody for our clients.”

Throughout the event, leading industry figures shared their insights, including Paul Kremsky, Head of Business Development at Cumberland; Jordi Alexander, CEO of SLN Selini Capital; and Dom Longman, Managing Director for the Middle East and Africa at Zodia Custody.  

Their participation reinforced the growing importance of institutional involvement in shaping the digital asset landscape and emphasized the critical role of regulated entities in bridging the divide between traditional finance and crypto.

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• Deribit currently operates under a full license from Dubai’s Virtual Assets Regulatory Authority (VARA)
• This regulatory license enables the platform to legally offer crypto derivatives trading to institutional and qualified investors.
• Transferring the license to Coinbase would require regulatory approval, potentially delaying the finalization of the deal.

Coinbase is acquiring Deribit—a leading crypto options and futures exchange—for approximately $2.9 billion, according to a report by The Wall Street Journal.

The acquisition, if finalized, would mark the largest in Coinbase’s history and significantly accelerate its push into the fast-growing derivatives market, which accounts for the bulk of daily crypto trading volume globally.

The deal is said to involve a combination of cash and Coinbase stock, with negotiations reportedly entering their final phase after months of deliberation.

Deribit’s robust presence in the crypto derivatives sector, having processed around $1.2 trillion in trading volume in 2024 alone, makes it a prime target for Coinbase’s global expansion strategy.

Coinbase-Deribit deal

Deribit currently operates under a full license from Dubai’s Virtual Assets Regulatory Authority (VARA), which it secured after relocating its base from Panama in late 2024.

This regulatory license enables the platform to legally offer crypto derivatives trading to institutional and qualified investors.

However, transferring the license to Coinbase would require regulatory approval, potentially delaying the finalization of the deal.

Coinbase has been gradually expanding its presence in the derivatives space.

Its acquisition of FairX enabled the launch of CFTC-regulated futures products in the US, while the creation of Coinbase International Exchange allowed for perpetual futures trading outside the American market.

However, its derivatives volume still trails offshore competitors—something the Deribit acquisition is expected to change.

The timing of the deal aligns with growing optimism around US crypto regulation.

Bloomberg reported in March that Coinbase’s move comes amid encouraging policy signals from Washington, suggesting a shift toward clearer regulatory frameworks.

Industry peers like Kraken have also acted on this momentum, acquiring futures broker NinjaTrader for $1.5 billion earlier this year.

Deribit CEO Luuk Strijers had previously stated that the company was not officially for sale, though its dominant market position had attracted interest from multiple potential buyers.

As of early May, sources indicate that most deal terms have been finalized, with only regulatory hurdles remaining before closure.

If approved, the acquisition will not only enhance Coinbase’s derivatives liquidity but also give it access to a licensed offshore exchange catering to institutional traders, potentially transforming the company’s global trading capabilities.

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• Share count will increase from 2 million to 14 million.
• Firm rebranded from Janover Inc., now trades as DFDV.
• Acquired validator business with 500,000 SOL stake.

DeFi Development Corp., formerly known as Janover Inc., is executing a 7-for-1 stock split on May 20, expanding its outstanding shares from 2 million to over 14 million.

The move follows a dramatic pivot into the Solana blockchain, which has triggered a staggering 1,700% rally in its share price over just one month.

The company, now trading under the ticker DFDV on Nasdaq, has rebranded and restructured its business model around crypto infrastructure.

It says the split will improve liquidity and make its shares more accessible to investors as it scales its decentralised operations across the blockchain sector and validator economy.

Solana pivot drives market surge

The Florida-based real estate software firm entered the digital asset space in April with a treasury strategy focused on long-term Solana accumulation.

Shortly after, it rebranded to DeFi Development Corp. to signal a permanent shift toward blockchain assets and operations.

The firm’s Nasdaq-listed shares, which had traded modestly under Janover, exploded in value following this announcement.

Although DFDV fell 3% on Wednesday to close at $79.31, the pullback came after a surge that saw its share price soar more than 1,700% in a matter of weeks.

The company stated on X that the split is designed to enhance liquidity and broaden accessibility for investors interested in decentralised infrastructure projects.

Its recent performance has drawn considerable attention from both institutional and retail market participants.

Validator buyout and SOL reserves

DeFi Dev Corp. has strengthened its Solana focus through two major steps: acquiring a validator business with 500,000 SOL in delegated stake, and purchasing over 400,000 SOL tokens, valued at around $58 million.

The $3.5 million validator deal, paid largely in restricted stock, was announced one day before the company disclosed the additional SOL purchase.

The validator acquisition gives DeFi Dev Corp. access to native cash flow within the Solana protocol, while the token accumulation solidifies its balance sheet as heavily weighted toward crypto assets.

Combined, the company now holds more than 900,000 SOL, worth close to $130 million at current market rates.

Executives noted that the validator infrastructure deepens the company’s alignment with decentralised protocols and adds recurring revenue through staking rewards. It also serves as a strategic hedge against future volatility in traditional capital markets.

Stock split to boost accessibility

Shareholders of record as of May 19 will receive six additional shares for each one they hold.

While the split increases the number of shares in circulation to over 14 million, the company confirmed its authorised share capital remains unchanged.

Although the stock split does not affect the company’s market cap, it is often used to increase trading volume and attract retail interest.

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