Coinbase And Crypto.com Want To Acquire FTX Europe

09/22/2023

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Coinbase plans to expand its derivatives presence in the European market. After the bankruptcy of FTX in 2022, the exchange considered buying FTX Europe. And despite the fact that the negotiations were not realized, Coinbase is still sticking to its plans.

Fortune reports that FTX Europe was still attracting users and operating normally for some time despite the company's collapse. Coinbase originally planned to acquire FTX Europe for derivatives trading, but regulatory issues caused uncertainty in the derivatives market. So Coinbase withdrew its offer. Nevertheless, Coinbase is working on launching an offshore derivatives exchange for the Asian market.

FTX Europe remains a tidbit for many exchanges. It is known that Crypto.com and the Bahamian division of FTX, FTX FDM, are also considering buying the European exchange. The current management of FTX Europe said back in July that it had no plans to sell the company. However, those close to management say the exchange has extended the deadline to submit a bid to buy the company to September 24.

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