Deribit controls over 85% of the global crypto options market.

Deribit, the world’s leading crypto options exchange by trading volume and open interest, will soon offer options tied to prominent alternative cryptocurrencies XRP, SOL and MATIC.

The exchange announced its expansion plan on X soon before press time, adding that it is seeking a brokerage license in the European Union (EU).

Options are derivative contracts that give the purchaser the right but not the obligation to purchase or sell the underlying asset at a predetermined price on or before a specific date. A call gives the right to buy while a put offers the right to sell.

The availability of XRP, SOL and MATIC options could boost liquidity in the wider alternative cryptocurrency market and will provide altcoin traders more flexibility in managing their risks. Historically, altcoin traders have relief on ether and bitcoin options to hedge their altcoin exposure.

Deribit’s existing product suite includes options and perpetual futures tied to bitcoin, ether and volatility futures. The exchange’s bitcoin and ether options are popular among traders looking to hedge their portfolios and bet on volatility. In September, the exchange accounted for 86% of the global crypto options market.

The post Deribit to List XRP, SOL, MATIC Options; Seeks License in EU appeared first on Crypto Insider.

Blockchain.com has also said it is cooperating with ongoing investigations into the hedge fund, which “defrauded the crypto industry.”

Crypto exchanges Blockchain.com and Deribit were among the creditors to have pushed for the liquidation of troubled hedge fund Three Arrows Capital (3AC), Bloomberg reported on Friday.

Blockchain.com has also said it is cooperating with ongoing investigations into the hedge fund, which “defrauded the crypto industry,” the report said, citing a spokesperson.

The liquidation of 3AC was ordered in a British Virgin Islands court earlier this week. New York-based Teneo Restructuring was called in to work with creditors and handle the insolvency.

3AC suffered heavy losses in the recent crash in the crypto markets, with the possibility of insolvency reported in mid-June after the firm incurred at least $400 million in liquidations.

Crypto derivatives exchange Deribit was among those to liquidate 3AC’s capital positions after the hedge fund failed to meet margin calls.

“We believe Three Arrows Capital defrauded the crypto industry and intend to hold them accountable to the fullest extent of the law,” a Blockchain.com spokesperson said in a statement, according to Bloomberg’s report. “We have filed for the immediate liquidation of all global assets of Three Arrows.”

The post Blockchain.com, Deribit Among Creditors That Pushed for 3AC Liquidation appeared first on Crypto Insider.