The post Coinbase Cancels “Highly Profitable” FTX Europe Acquisition appeared first on Coinpedia Fintech News
According to a recent report by Fortune, Coinbase, the U.S. cryptocurrency giant, has officially pulled the plug on its plans to acquire FTX Europe. Initially, Coinbase had aimed to extend its foothold into the European derivatives market through this acquisition. However, the decision was changed after evaluating the regulatory challenges haunting the markets at present.
BREAKING: COINBASE LOOKED TO ACQUIRE FTX EUROPE, ALTHOUGH TALKS DID NOT REACH A LATER STAGE. pic.twitter.com/VCb94OjRph
— SolanaFloor (@SolanaFloor) September 22, 2023
The High-Stakes Derivatives Market
The allure of FTX Europe lies primarily in its “highly profitable” derivatives business, which had been operating under a Cyprus regulatory licence. Unique among European exchanges, FTX Europe was the only firm licensed to offer perpetual futures—a derivatives product that accounts for a significa
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