BB DAILY 01-14-2025: Deribit Explores Acquisition Options Amid $5 Billion Valuation, Crypto Industry Gathers for Historic Event, and SEC Sues Elon Musk Over Twitter Filing Delay
Deribit hires FT Partners for strategic opportunities, while the crypto community celebrates at the inaugural Crypto Ball, aligning with a pro-crypto Trump administration; SEC takes legal action against Musk for failing to file timely Twitter ownership report.
Deribit, a leading crypto derivatives exchange, has hired FT Partners to explore potential opportunities following interest from acquirers, including Kraken, which ultimately did not pursue a deal. Although not up for sale, Deribit confirmed it has received strategic investment interest. The firm remains dominant in bitcoin options, capturing 73.4% of December’s volume. FT Partners has also assisted other notable projects, including Tools for Humanity, the developer of Worldcoin.
Crypto Industry Celebrates at Inaugural Crypto Ball Amid Pro-Crypto Stance by Trump Administration
The inaugural Crypto Ball, held on January 17 in Washington D.C., will celebrate American innovation and the new administration’s pro-crypto stance during President-elect Trump’s inauguration. Tickets for the event, hosted by BTC Inc. and co-hosted by major crypto entities like Kraken and Coinbase, are in high demand. The event marks a key moment for the crypto community, aligning with Trump’s appointments of crypto-friendly officials and proposals for a more supportive regulatory environment. The event will feature VIP receptions, including one hosted by Trump super PAC MAGA Inc.
SEC Sues Elon Musk Over Alleged Securities Violation in Twitter Stock Filing Delay
The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Elon Musk in federal court over an alleged securities violation. According to the court docket, the SEC’s case centers on Musk’s delay in filing a required beneficial ownership report after acquiring more than 5% of Twitter shares. The lawsuit, filed in Washington, D.C., claims that Musk failed to meet the regulatory deadline for the filing, which should have been made within 10 days of reaching the 5% threshold. The details of the case have not been fully disclosed, but the SEC’s action marks a significant legal development in Musk’s dealings with Twitter and raises concerns about compliance with securities regulations.
