Somewhere between the dunes of Dubai and the great uncharted steppes of American finance, Deribit—purveyor of option trades more intricate than the meanderings of Oblomov on a foggy morning—has fixed its gaze westward. Last year, the venerable house shuffled an astonishing $1.3 trillion in trades, no less. The aroma of profit lingers in their halls and, apparently, someone has wafted that enticing scent all the way to the United States.
Of course, it is not mere fortune that calls; no, it is the thunderous promise of President Trump—or, as the papers say, Trump the Crypto Whisperer—who has pledged to make America the Great Cryptocurrency Pasture. Bitcoin, that restless stallion, shall roam free. “We shall halt SEC cases!” they declaim. “We shall mine bitcoin until the cows come home—or at least until the servers overheat,” they whisper into the night.
The Financial Times reports these tidings as if announcing spring’s first crocus bud. Not to be left standing at the sideline, fellow outfits like OKX and Nexo now prowl the frontier, encouraged by this new wind.
And yet, like Uncle Pavel staring at a samovar long emptied, Deribit’s chief, Luuk Strijers, issues a caution: legal labyrinths lurk in every shadow. Extending derivatives to the American crowd is, in his words—if I may paraphrase—a task as straightforward as herding philosophically-inclined cats.
So, Deribit dreams, Trump tweets, regulators snooze and awaken in confusion, and all of us—digital serfs and sovereigns alike—wonder what might sprout from these curious seeds. 🍿🇺🇸💸
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2025-05-04 13:00