Deribit, the world’s largest crypto options exchange, is thinking about entering the U.S. market as the country’s political mood around crypto begins to change. The Dubai-based exchange handled $1.3 trillion in notional trading volume in 2024 and is now “actively reassessing potential opportunities” in the United States, CEO Luuk Strijers told the Financial Times in an interview.

He said the move is being driven by a “recent shift toward a more favorable regulatory stance on crypto in the US,” which the company sees as a chance to grow. Meanwhile, a previous report confirms that Coinbase is in talks to buy the company, and both firms have already informed Dubai regulators.

If the deal with Coinbase goes through, the license…