Recent documents have shown the San Francisco-based crypto exchange Coinbase had explored a potential acquisition of the European subsidiary of bankrupt crypto exchange FTX.
Coinbase Shows Interest In Acquiring FTX Europe
Reports from Fortune show that the crypto exchange Coinbase was interested in acquiring FTX Europe after its parent company FTX went bankrupt in November last year due to its highly profitable derivatives business and growing customer base.
The crypto exchange has shown its interest in acquiring the European arm of FTX on two occasions. The first was when the parent exchange went bankrupt in November last year, and now in September 2023.
Coinbase’s recent interest in acquiring the European subsidiary of FTX primarily focuses on the crypto exchange’s strategy to expand its presence globally in the crypto derivatives market amid the crypto exchange’s crackdown in the United States.
Crypto Derivatives are financial compacts that derive their value from an underlyin
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