Coinspeaker
Coinbase Explores FTX Acquisition and Derivatives License
Reports have emerged that Coinbase considered acquiring FTX Europe after the exchange’s bankruptcy in November. While the acquisition talks were not successful, Coinbase’s interest in FTX Europe underlines how important derivatives have become to Coinbase’s global strategy.
Whereas spot trading volumes have dipped significantly, there is a greater demand for derivatives. Data from crypto analytics firm Kaiko Research showed that derivatives volume was six times larger than spot volume in the second quarter of 2023. This suggests that derivatives are becoming more popular.
In the Pursuit of a Derivatives License
Until FTX collapsed in November, FTX Europe was the only firm offering special crypto derivatives (perpetual futures) to the European market. The company obtained the necessary license after it acquired Digital Assets AG for $376 million in late 2021.
Up till its parent company declared bankruptcy, the p
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