Biggest bitcoin options exchange Deribit to launch zero-fee spot trading
Deribit, the world's largest crypto options exchange, is entering the spot trading space. The company announced late Wednesday that it is launching a zero-fee spot exchange on April 24. The move comes shortly after rival Binance's zero-fee spot trading campaign ended late last month. At launch, Deribit will offer spot trading with three pairs: BTC/USDC, ETH/USDC and ETH/BTC.
Deribit's entry into spot trading comes seven years after its inception. The exchange is currently the leader in the crypto options market, with over 90% share of open interest in both bitcoin and ether options trading, according to The Block's Data Dashboard. Last year, Deribit had challenging times as it had to liquidate Three Arrows Capital's (3AC's) positions after the now-bankrupt crypto hedge fund failed to meet its margin calls. In turn, Deribit took a "small" hit and later went on to raise $40 million from existing shareholders at a $400 million valuation. The company was valued at $2.1 billion in its previous funding round in August 2021.
Source
https://t.me/DeFi_Ethereum
