User:Satechirohs/sandbox

Deribit, operated by DRB Panama Inc — wholly owned subsidiary of platform Deribit B.V. — is the biggest international crypto derivatives and spot exchange in the world in terms of daily trading volume and open interest for Bitcoin and Ether cryptocurrencies options. It was founded in 2016 by John Jansen, an early crypto investor with a background in options trading on the Amsterdam Options Exchange, and his brother, Marius Jansen as a Dutch company, but in 2020 moved to Panama. Currently it is in the process of opening office in Dubai to be able to obtain FMP (Full Market Product license) under the Virtual Asset Regulatory Authority (VARA) regime.

Deribit unique features are inverse crypto options, inverse options education course, ClearLoop and Cobo custodial providers and off-exchange settlement , multicast and FIX protocols , DVOL futures , trade surveillance monitoring and options plus futures combo trading.

In 2022 one of exchange investors, 3AC, went bankrupt, incurring around $80 million in loss to the exchange.

Later in 2022, just after FTX collapse, Deribit exchange hotwallet was hacked, resulting in loss of $28 millions. However, even despite above events and overall year 2022 IT jobs cutoffs Deribit managed to expand its business, hire more personnel and increase its marketshare by March 2023, reaching highest in history volume of options trading.

2014–2016: Idea behind the company and its development
In early 2014 John Jansen, professional Amsterdam Options Exchange stock options market maker and early crypto investor, after a period trading crypto on different exchanges developed a vision of an exchange where it would be possible to trade Futures, Options and other ‘derivative’ products in a secure, high performance environment. John then proceeded to team up with a group of technical experts to turn this vision into a reality, using Erlang and Mnesia for the backend engine.

After two years of intensive development, Deribit went live in June of 2016, initially offering only web-browser and API interfaces, and Bitcoin-only inverse dated futures and options.

2017–2020: Launch of the exchange, gaining marketshare
On 14 of August 2018 Deribit exchange added a new product to its instruments list, Bitcoin Inverse Perpetual Futures, which was commonly named "perpetual swaps".

Seven month later, on 14 March 2019, Deribit opened a line of new inverse products, with Ether being used as a margin, thus widening its market from previous Bitcoin-only proposition.

2021–2023: Active development phase
Having achieved noticeable market share, Deribit secured investment from a number of companies, for undisclosed evaluation