Coinbase eyes major stake in Bybit for US market entry

Coinbase is in talks to acquire a major stake in Bybit to help it enter the US market. The deal could value Bybit at $25 billion, but no official terms or timeline have been disclosed.

Coinbase is reportedly in advanced talks to acquire a significant equity stake in Bybit, aiming to support Bybit’s entry into the highly regulated US market. Sources indicate that the discussions center on a strategic investment partnership, not a full acquisition, allowing both exchanges to remain operationally independent while aligning their interests. Bybit, one of the largest offshore crypto exchanges, faces regulatory challenges in accessing the US. Partnering with Coinbase, a regulated US exchange, could offer Bybit a compliant route into the American market. Analysts suggest Bybit’s valuation in the deal is being compared to OKX, which recently reached a $25 billion valuation after a similar investment. No official confirmation or financial details have been released, and the timeline for the deal is still unclear.