Coinbase Reportedly in Talks to Acquire Derivatives Exchange Deribit

Coinbase, a leading cryptocurrency exchange, is reportedly in discussions to acquire Deribit, a prominent derivatives trading platform. This potential acquisition could significantly expand Coinbase’s offerings in the crypto derivatives market.

John Reed Stark Opposes Regulatory Reform at SEC Crypto Roundtable

John Reed Stark, former director of the Office of Internet Enforcement at the U.S. Securities and Exchange Commission (SEC), strongly opposed regulatory reform aimed at accommodating digital assets during the first-ever SEC crypto roundtable.

Stark argued that existing securities laws, specifically the Securities Acts of 1933 and 1934, should remain unchanged and continue to apply to digital assets. He emphasized that cryptocurrencies clearly fall under the definition of securities and should not be exempted from current regulations.

“The people buying crypto are not collectors. We all know that they are investors, and the mission of the SEC is to protect investors,” Stark stated.

He further criticized crypto firms for employing delay tactics and hiring top law firms to challenge the SEC, noting that despite extensive legal battles, these firms have consistently lost their cases.

Stark concluded by asserting that cryptocurrencies and digital assets do not represent genuine innovation comparable to previous technological breakthroughs, such as the introduction of the iPhone.

John Reed Stark: A Vocal Crypto Critic

Stark has consistently been one of the most outspoken critics of cryptocurrencies, frequently highlighting concerns about transparency, accountability, and investor protection.

• In February 2024, Stark compared a sponsorship deal between the NBA’s Dallas Mavericks and crypto firm Voyager to partnering with a “heroin manufacturing firm.”
• He has defended the SEC’s “regulation by enforcement” approach under former chairman Gary Gensler, insisting that crypto must adapt to existing laws rather than expecting laws to evolve for crypto.
• His strong anti-crypto stance has drawn criticism from industry figures, including investor Mark Cuban, who labeled Stark’s views as “crypto derangement syndrome.”

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