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FTX had announced its bankruptcy in November of last year. Following this bankruptcy, there were significant declines in Bitcoin. Asset refunds in FTX bankruptcy continue to affect many users. After all this, the US-based exchange Coinbase is considering buying the failed company’s European unit.
According to the report, Coinbase is exploring ways to expand its cryptocurrency derivatives offerings. It plans to do this by acquiring FTX Europe. The report also indicates that the negotiations never reached “a late stage”.
Fortune stated that despite Coinbase “no longer pursuing the potential deal”, the US-based exchange continued to show interest in a purchase transaction this month.
The Latest Status of Cryptocurrencies! – September 23
Coinbase Derivatives Part
Crypto derivatives constitute a significant portion of the overall trade of digital currencies. JMP analysts suggested that considering the derivatives market constitutes a large part of trading activity, Coinbase’s expansion towards derivative products will contribute positively in the long term.
According to Fortune, tens of thousands of users were being added to FTX Europe before the company’s bankruptcy. This could represent a positive development for the future of the crypto industry.