Leading U.S. crypto exchange Coinbase pursued the acquisition of failed coin trading competitor FTX’s European subsidiary, a media report revealed. The move has been seen as proof of the growing importance of derivatives for the American platform’s plan to expand business globally.
Coinbase Held Talks to Acquire FTX Europe After Bankruptcy and in September
Coinbase has looked into the potential acquisition of FTX’s entity in Europe, according to documents seen by Fortune. The U.S.-based digital assets exchange explored the option to buy the Cyprus-licensed platform both right after FTX filed for bankruptcy protection in the United States last November and as recently as early September.
“Coinbase’s interest in FTX Europe demonstrates the growing importance of derivatives to its global business plan as spot trading volumes have tumbled during the bear market,” the magazine commented while noting the talks never reached a late stage and quoting a person familiar with the matt
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