Luuk Strijers: Pioneering Bitcoin Options

In Prague, where Kafka once dreamed of metamorphosis, another transformation is taking shape. The city's ancient stones whisper of bureaucratic labyrinths transcended, just as cryptocurrency now defies traditional financial boundaries.

Meeting Luuk Strijers in the VIP lounge of the Prague Congress Center, during The Block’s recent Emergence event, feels like stepping into this intersection of rebellion — where Kafka's struggle against systemic constraints echoes in today's digital asset revolution.

Below, a city that birthed both surreal literature and crypto pioneers like SatoshiLabs stretches toward a horizon where Gothic spires mirror the ascending graphs of Bitcoin options. Hours earlier, the Czech Republic had passed legislation exempting digital asset profits from income tax if held over three years — another wall between old and new finance crumbling.

With two decades of experience in listed products, ETFs, warrants, equities, and derivatives, 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.

For his leadership in the crypto derivatives space, Strijers has earned a spot on CoinDesk's Most Influential 2024 list.

Under Strijers, Deribit has solidified its position as the dominant force in crypto derivatives, commanding 80% of the global crypto options market. Daily volumes exceed $1.3 billion, dwarfing competitors like Binance, OKX and CME. Now, with Bitcoin touching $100,000 and institutional adoption surging, the platform's specialization in options trading has proven prescient.

"Our infrastructure isn't just about processing trades," Strijers said. "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."

This 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 has been a watershed year for Deribit, with total trading volumes surpassing $1 trillion. 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, Strijers is focused on regulatory expansion. With a VARA license in Dubai becoming active and MiFID approval pending in Europe, Deribit is building what he calls a "hub-and-spoke" model. "We're creating a global network where clients can onboard locally but execute through regulated hubs," he said. "It's about making institutional access as seamless as possible."

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," Strijers says. "While this would primarily benefit the U.S. market, it would likely create a domino effect globally."

New products are on the horizon too. While bitcoin and ethereum options dominate current volumes, Strijers hints at expansion into other assets. "We're seeing growing interest in Solana and XRP derivatives. But we're selective — we need to ensure sustainable liquidity, not just today but months into the future when those options mature."

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.

Under his 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.