Coinbase is in talks with the officials to purchase FTX Europe but hasn’t declared the final decision. Defunct FTX has listed to sell FTX Europe after being declared bankrupt. Coinbase is planning to buy FTX Europe to expand the firm’s derivatives business. FTX was known for its lucrative derivatives and customer satisfaction before it went bankrupt. So, Coinbase is considering engaging in talks with the officials to own FTX Europe.
Buying FTX is Part of Coinbase Expansion
Amid the worldwide crypto crackdown, Coinbase (COIN) is looking to expand globally. In a recent report disclosed by Fortune, it came into prominence that Coinbase is in talks with the official to buy FTX Europe amid a crypto crackdown in the homeland.
As per the Fortune report, although the discussion has reached the final stage of enactment, chances are that this deal might meet the late stage soon. It was disclosed in the article that Coinbase wishes to expand its derivatives business at the global level.
Core Objectives behind Purchasing FTX
After FTX went bankrupt, Fortune reported that it listed FTX Europe for sale, and Coinbase started the discussion to purchase FTX for business expansion. FTX can be the best option for Coinbase due to its fan base and high profitability in the derivatives business.
Derivatives are just like financial contracts capable of driving their value from unfamiliar assets to worthwhile assets like Bitcoin (BTC). This can be lucrative for both i.e., cryptocurrency exchanges and traders. Just like other crypto exchanges in Europe, FTX Europe also offers a wide range of crypto derivatives. The uniqueness of FTX lies in its licensed authority to offer perpetual features.
Fortune report adds the stance that due to this particular feature and license, FTX got the attention of potential buyers. Apart from Coinbase, Trek Labs and Crypot.com have also expressed desires to buy FTX Europe but no final words have been declared yet.
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