Coinbase mulled buying FTX Europe post-bankruptcy: report

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By BitcoinWiki News

Key Takeaways:

– Coinbase considered acquiring FTX Europe after FTX’s bankruptcy last year
– Talks did not progress to a late stage and Coinbase is no longer pursuing the deal
– Coinbase expressed interest in acquiring FTX Europe sometime this month
– FTX Europe had been gaining tens of thousands of users before its bankruptcy
– Crypto derivatives are a significant part of digital currency trading
– Acquiring FTX Europe would expand Coinbase’s crypto derivatives offerings
– The derivatives market represents the bulk of trading activity for Coinbase
– Coinbase’s expansion into derivatives adds to its long-term upside case
– This information is for informational purposes only and is not intended as advice.

Coinbase, a US-based cryptocurrency exchange, considered acquiring FTX Europe, the European unit of the failed exchange FTX, after the latter declared bankruptcy in November 2022. The acquisition talks were related to Coinbase’s interest in expanding its offerings of crypto derivatives, although they did not progress to an advanced stage. Although Coinbase is no longer pursuing the deal with FTX Europe, it has continued to express interest in potential acquisitions within the cryptocurrency space. Crypto derivatives are a significant component of digital currency trading, and Coinbase’s expansion into this market could contribute to its long-term growth prospects. Prior to its bankruptcy, FTX Europe had been attracting a considerable number of users.

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