The Intersection of Rebellion: Luuk Strijers and Deribit’s Transformation of Crypto Derivatives
In the heart of Prague, a city where Kafka once penned his iconic novel "Metamorphosis," another transformation is taking shape. The ancient stones that whisper stories of bureaucratic labyrinths transcended by cryptocurrency now stand as a testament to the digital asset revolution.
Meeting Luuk Strijers: Where Rebellion and Innovation Converge
As I meet Luuk Strijers in the VIP lounge of the Prague Congress Center, during The Block’s recent Emergence event, it feels like stepping into an intersection where Kafka’s struggle against systemic constraints echoes in today’s digital asset revolution. Below us lies a city that birthed both surreal literature and crypto pioneers like SatoshiLabs, stretching toward a horizon where Gothic spires mirror the ascending graphs of Bitcoin options.
Hours Earlier: A New Era of Regulation
Just hours prior to our meeting, the Czech Republic passed legislation exempting digital asset profits from income tax if held over three years. This move marks another wall between old and new finance crumbling, paving the way for further innovation in the crypto space.
From Traditional Finance to Crypto Pioneering
With two decades of experience in listed products, ETFs, warrants, equities, and derivatives under his belt, Strijers brought deep traditional finance expertise when he joined Deribit as Chief Commercial Officer in 2019. His previous role at the Singapore Exchange (SGX), where he oversaw listed products, gave him insight into both the limitations of traditional exchanges and the potential for innovation in crypto derivatives.
A Leader in Crypto Derivatives: Luuk Strijers’ Vision
For his leadership in the crypto derivatives space, Strijers has earned a spot on CoinDesk’s Most Influential 2024 list. Under his guidance, Deribit has solidified its position as the dominant force in crypto derivatives, commanding an impressive 80% of the global crypto options market.
Deribit’s Rise to Dominance
Daily volumes exceed $1.3 billion, dwarfing competitors like Binance, OKX, and CME. Now, with Bitcoin touching $100,000 and institutional adoption surging, Deribit’s specialization in options trading has proven prescient. As Strijers notes:
"Our infrastructure isn’t just about processing trades; when bitcoin moves, we’re updating hundreds of strikes across multiple expiries simultaneously. Traditional exchanges might update two quotes — we’re managing thousands of instruments in real-time."
The Complexity Advantage
This level of complexity has kept many competitors at bay. Having worked at SGX since 2014, Strijers understands firsthand why traditional exchanges struggle to adapt.
"In traditional finance, you have layers of intermediaries — brokers, clearing members, central counterparties. Changing that system to accommodate crypto assets isn’t just difficult; it’s nearly impossible without starting from scratch."
2024: A Watershed Year for Deribit
With total trading volumes surpassing $1 trillion in 2024, the platform has expanded its collateral options, now accepting everything from Bitcoin to tokenized gold. This innovation in collateralization sets them apart from traditional venues that only accept fiat currency.
Looking Ahead to 2025: Regulatory Expansion and a "Hub-and-Spoke" Model
Strijers is focused on regulatory expansion, with a VARA license in Dubai becoming active and MiFID approval pending in Europe. He envisions a "hub-and-spoke" model, where clients can onboard locally but execute through regulated hubs.
"It’s about making institutional access as seamless as possible," he explains.
The Potential Impact of Trump’s Return: A Catalyst for Institutional Adoption
Strijers believes that the return of Donald Trump to the White House could accelerate institutional adoption. "There’s a strong belief that the first 100 days of a Trump administration would bring crypto-friendly regulations," he says. "While this would primarily benefit the U.S. market, it would likely create a domino effect globally."
New Products on the Horizon: Expansion into Alternative Assets
Strijers hints at expansion into other assets, such as Solana and XRP derivatives.
"We’re seeing growing interest in these alternatives," he notes. "But we’re selective — we need to ensure sustainable liquidity, not just today but months into the future when those options mature."
A Leader in Crypto Derivatives: Luuk Strijers’ Legacy
Drawing on his extensive background in exchange trading and corporate finance, Strijers has helped transform Deribit into an institutional cornerstone of the digital asset ecosystem. As trading volumes continue to surge and new institutional players enter the market, his vision of a mature, regulated crypto derivatives market is becoming reality.
Conclusion: Deribit’s Dominance and the Future of Crypto Derivatives
Under Strijers’ leadership, Deribit looks set to maintain its dominance in the crypto options space, continuing to bridge the gap between traditional finance and digital assets while fostering deeper liquidity and institutional participation in the years ahead. This profile is part of CoinDesk’s Most Influential 2024 package.
For all of this year’s nominees, click here.
