Three sources confirmed that discussions are taking place between Coinbase and Bybit, though neither exchange has officially confirmed the talks. If the partnership proceeds, it could connect one of the largest regulated exchanges in the US with one of the world’s largest offshore platforms, potentially reshaping cross-border crypto financing and exchange dynamics. Bybit hopes to use this opportunity to enter the compliant US market.
Coinbase may take a minority stake in Bybit to facilitate a U.S. expansion. The collaboration would align with Coinbase’s Everything Exchange strategy, which debuted in January 2026, and could bolster Bybit’s ability to offer regulated services in the United States. Bybit recently transformed into a New Financial Platform and secured EU MiCAR authorization. OKX founder Star Xu expressed support for the rumor, citing a need for higher industry standards.
Some reports also note that Bybit could be valued at around $25 billion if the deal moves forward, underscoring the potential scale of any official agreement. If achieved, the partnership could help Bybit enter the U.S. market in a more compliant manner, although official confirmation remains pending.
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