Cryptocurrency exchanges Coinbase and Bybit are reportedly in discussions for an investment partnership. According to sources, the talks could facilitate Bybit’s entry into the compliant U.S. market and value the company similarly to OKX, which was recently valued at approximately $25 billion.
Cryptocurrency exchanges Coinbase and Bybit are engaged in talks regarding a potential investment partnership, according to a recent report. Three sources confirmed this information.
The reported discussions follow other significant deals in the cryptocurrency industry. For instance, Coinbase acquired the derivatives platform Deribit for $2.9 billion during the summer of 2025.
More recently, OKX received a minority investment from the Intercontinental Exchange. This valued the cryptocurrency exchange at around $25 billion.
The report indicated that Bybit hopes to use the potential partnership with Coinbase to enter the compliant U.S. market. Its valuation is expected to be similar to that of OKX following this arrangement.
Data from prominent market aggregators shows that both Coinbase and Bybit rank within the top five exchanges by trust score. “Bybit hopes to use this opportunity to enter the compliant US market,” the sources stated.
