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 underlying asset such as Bitcoin (BTC) that is profitable for traders and the exchange, and they include options, futures, and swaps.

Coinbase is not the only crypto exchange that showed interest in acquiring FTX Europe. The report shows that other prominent crypto exchanges like Crypto.com, and Trek Labs have also mulled over acquiring the European arm of the exchange. 

Another reason behind prominent crypto exchanges’ interest in the European arm of FTX is due to the covetous derivatives trading license obtained by the firm following the g

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Author: Scott Matherson

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