While Coinbase's interest has progressed to advanced stages, it is noteworthy that Kraken, another major U.S. cryptocurrency exchange, has also been in talks with Deribit regarding a potential acquisition. Contrary to earlier reports suggesting that Kraken had withdrawn from negotiations, sources indicate that discussions between Kraken and Deribit are ongoing. This simultaneous interest from two prominent exchanges highlights Deribit's significant value proposition in the crypto derivatives market.